The interest rate policy of the Swiss National Bank will remain a key influencing factor for the Swiss real estate market in 2026. After interest rates rose significantly in 2022 and 2023, the interest rate environment has since eased again. The SNB policy rate is currently 0.00%.
Especially with older multi-family homes in the Canton of Zurich, the question increasingly arises as to whether a comprehensive renovation is still economically viable or if a replacement new build represents the better long-term solution.
On September 28, 2025, Swiss voters approved the abolition of the imputed rental value. The reform is scheduled to be implemented on January 1, 2029. This will fundamentally change the taxation of owner-occupied homes in Switzerland.
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