Switzerland’s residential property market showed little sign of cooling in the second quarter of 2026, with condominium prices rising 1.0% and single-family home prices remaining unchanged at a persistently high level. Year-on-year, single-family homes are up 3.4% and condos 4.2%
“Even with the slightly lower price growth rates this quarter, the price dynamics in the residential property market remain very high,” said Fredy Hasenmaile, Chief Economist of Raiffeisen Switzerland.
The low mortgage rates, expected to continue for the foreseeable future, as well as the limited supply of apartments and houses, point to continued price increases.
The strongest annual price increases for single-family homes were recorded in western Switzerland, where prices rose 6.3% compared to the same quarter last year. In northwestern Switzerland and central Switzerland, house prices rose more moderately, at 3.4% and 3.1%, respectively.
For condominiums, the picture was more mixed. Southern Switzerland saw the sharpest year-on-year increase at 6.7%, while the Lake Geneva region experienced a slight decline of 1.4%.
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Tourist Areas Drive The Market And Swiss Home Prices
A breakdown by municipality type shows that tourist communities are experiencing the strongest price momentum. For single-family homes, tourist areas saw a 6.0% annual increase, compared to 4.2% in urban areas. In the condominium segment, tourist areas again led with a 6.9% rise, while city centers recorded the weakest growth at just 0.1%.
The Raiffeisen Transaction Price Index, published quarterly, draws on property transfer data from Raiffeisen and the Swiss Real Estate Datapool (SRED) to measure price development of owner-occupied residential property across Switzerland.
Hasenmaile said the combination of low mortgage rates and tight supply continues to underpin price growth, despite the modest slowdown in quarterly momentum.
With mortgage rates expected to remain low and supply constraints unlikely to ease soon, Raiffeisen economists anticipate that residential property prices will continue to rise in the coming quarters, albeit at a potentially more moderate pace.
