Platinum Market Watch by Niki Thomet Q4 - Flipbook - Page 7
Market Outlook
with Maciej Skoczek
U B S G LO BA L WE A LT H M A N AG E M E N T
The Swiss real estate market enters 2026 at an inflection point. After years
of exceptional momentum, we are now seeing a more nuanced landscape
- one defined not by exuberance, but by resilience, structural undersupply,
and selective opportunity.
Recent insights from our event with Maciej Skoczek, real estate economist
and analyst at UBS Global Wealth Management and Chief Investment
Officer, confirm what many of us are experiencing on the ground: economic
growth in Switzerland is moderating, and monetary policy remains steady,
with no immediate rate cuts anticipated. The policy rate is expected to
remain broadly stable over the next twelve months. In practical terms, this
creates a planning environment characterized by predictability rather than
stimulus.
Ownership Market:
Strong Fundamentals, Diverging Dynamics
Despite a slowing macroeconomic backdrop, owner-occupied residential
property continues to demonstrate remarkable strength. Prices for
apartments posted solid year-over-year gains in 2025, significantly
outpacing wage growth. Over the past seven years, many regions have
recorded sustained annualized appreciation, with mountain and leisure
destinations showing particularly strong cumulative growth since 2022.
However, this is no longer a uniform market. Renovation-sensitive assets
are trading at widening discounts. UBS data indicates a growing price gap
between renovated and non-renovated properties - especially if tax
deductibility of maintenance expenses is curtailed. In other words: quality,
energy efficiency, and condition are no longer optional value drivers; they
are decisive pricing factors.
For buyers, this creates a two-tier opportunity:
• Acquire premium, turnkey assets in prime micro-locations.
• Or strategically reposition properties with renovation potential - factoring
in regulatory and tax implications.
P L AT I N U M C OA S T R E S I D E N T I A L M A R K E T R E P O R T
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