Switzerland real estate market — prices, rental yield and trend
- Average price: $9,468 / m²
- Gross rental yield: 2.95%
- 12-month price change (USD): 0.1%
- Net rental yield: 2.79%
- Transaction cost: 6.1%
- Bubble-risk band: elevated
- Price basis: national average
Residential property in Switzerland averages $9,468 per square metre. In dollar terms the market has barely moved over the last twelve months (+0.1%). That makes it the 3rd most expensive of the 83 markets in the set.
What a buyer pays in Switzerland
The $9,468 figure is a national average across all residential property types, which flattens a wide spread — the capital typically runs far above it and small towns far below. Buying costs — transfer tax or stamp duty, notary, registration and agency — come to about 6.1% of the price here. On a 100 m² apartment at the average price that is roughly $57,753 on top of the $946,770 purchase price. That is below the 10.2% median across the set, which shortens the time it takes for a purchase to break even.
What it earns
A square metre lets for about $23.3 a month. Against a purchase price of $9,468 per square metre that is 3% gross, before tax. Both figures come from the same source and the same period, so you can check the arithmetic yourself. It ranks 85th of 88 markets by gross yield. Rental income is taxed at 0.3–16% — the rate is not a single number here. That is the difference between 2.5% and 2.9% net on the same property. The 2.8% net figure we publish uses 5.6%.
How the tax works. Progressive and unusually wide: federal, cantonal and municipal tax combined (reference: canton and city of Zurich, with the 20% lump-sum maintenance deduction) gives 0.3% at USD 1,000 a month and about 4% at USD 3,000 if the owner has no other income — but under DBG art. 7 the rate is set by the owner's worldwide income even though only the Swiss income is taxed, so with CHF 80,000 of foreign income the same rent pays 12–16%. Cantonal differences are large (Geneva and Vaud higher, Zug lower). Wealth tax is not included. Source: zh.ch Steuerbuch.
Where the price sits against its own history
Prices are +37.4% over five years and +73.1% over ten in local terms. Today’s level sits 26.9% above the country’s own long-run trend. A gap that size does not have to close, but it is the number to watch. Glopra’s bubble-risk score for Switzerland is 73 out of 100 — elevated risk. Of the 58 markets scored, 10 read higher. It combines the deviation from trend, price-to-income and the pace of recent growth — a warning light, not a forecast.
Switzerland house price index, 2016–2026 (2016 = 100)
| Year | Index |
|---|---|
| 2016 | 100 |
| 2017 | 100.9 |
| 2018 | 103.9 |
| 2019 | 107.8 |
| 2020 | 110.4 |
| 2021 | 116.8 |
| 2022 | 124.2 |
| 2023 | 126.9 |
| 2024 | 129.2 |
| 2025 | 135 |
| 2026 | 138.7 |
Rebased to 100 in 2016, the index stands at 138.7 in 2026. The series is in local currency, and the twelve-month numbers above show how much of that a dollar buyer actually keeps.
Who can buy in Switzerland
Lex Koller: non-residents need a permit. That is the rule a foreign buyer meets first, not legal advice — check the current position locally before you commit.
How this figure is built
The price figure for Switzerland is built from asking prices from listings. It was last refreshed on 2026-09-28. We rate our confidence in this market’s data medium: the series is usable, but thinner or less current than our best-covered markets. We recompute every market the same way; a figure that fails our checks is suppressed, not guessed.
Sources: GPG sqm · globalpropertyguide.com · numbeo.com. Snapshot: 2026-09-28.
Latest Switzerland market analysis
- Switzerland Rejects the Rent-Control Initiative and Proposes a Statistical Comparison Rent — 2026-09-26
- Swiss National Bank Keeps Its Policy Rate at 0% in September 2026 — 2026-09-26
- Swiss Government Report Finds Broader Home-Ownership Support Would Mainly Lift Prices — 2026-09-20
- Switzerland's Housing Vacancy Rate Falls Below 1% for the First Time — 2026-09-13