The success of the German-speaking Riviera, Geneva, and certain Alpine resorts remains unwavering, especially in the ultra-luxury sector, where buyers are largely unaffected by borrowing costs.
Amid global uncertainty caused by Donald Trump’s trade war, luxury real estate experts from the French-speaking region of Switzerland are presenting optimistic prospects. This niche market more than ever confirms its role as a safe haven for the wealthy and ultra-rich international buyers, whose numbers have been steadily increasing over the past decade (+5.2% in 2024) and are expected to continue growing in the coming years, according to «The Wealth Report» published by Naef Prestige Knight Frank.
Driven by strong demand and limited supply, prices remain buoyant for prestigious residences in Geneva, the Lake Geneva region, and the Alps — havens for Swiss and foreign investors in the secondary and holiday home markets.
Despite international tax competition, particularly from Italy, Spain, and Dubai — whose impressive momentum promises an exceptional 2025 — this segment of Switzerland’s high-end real estate market confirms the unwavering strength of its assets.
Political, economic, and financial stability, security, quality of life, idyllic landscapes, and the possibility of living incognito all stand out as decisive factors, offering sustainable and reassuring investments. Even the risk of a global rise in interest rates triggered by a potential increase in US inflation is unlikely to seriously affect this promising Swiss context, as ultra-luxury clients generally rely on alternative financing methods.
Remarkable attractiveness
«This prestigious residential segment aimed at private individuals continues to demonstrate remarkable appeal,» observes Jérôme Félicité, President and Partner of Barnes Switzerland. «Demand remains strong thanks to the scarcity of exceptional properties located in strategic areas such as the German-speaking Riviera, Geneva, and certain renowned Alpine resorts.»
The consensus among the French-speaking Swiss experts interviewed is unanimous. «The relatively resilient luxury market shows strong demand for top-tier properties,» confirms Maxime Dubus, head of SPG One, an agency exclusively dedicated to prestige properties. «The limited supply of quality homes helps maintain price pressure in these prime regions.»
«The limited supply of quality properties helps sustain price pressure in the prime regions.»
Maxime Dubus, Director at SPG One
A similar view comes from Bardiya Louie, co-founder and CEO of Rockwell Properties. «In the ultra-luxury segment, where buyers are little or not at all affected by borrowing costs, demand remains strong, even showing a slight increase. Exceptional properties are quickly snapped up, often without going through the public market, discretion being paramount. In the broader residential segment, the recent drop in interest rates has revitalised the market, leading to a rise in the number of transactions.»
Ultimately, exclusive real estate—which benefits more from renewed strategic interest than speculative frenzy—is more than ever regarded as a safe investment.
Return of American buyers
In recent months, with the return of market volatility, high-end brokers in French-speaking Switzerland have noted a surge in viewings and offers on ultra-luxury properties (often priced above 10 million francs). This trend is particularly noticeable among international clients from unstable regions such as the Middle East, alongside a wave of Europeans post-Brexit, French buyers concerned about political instability in their government, and ultra-rich UK “non-doms” seeking a new fiscal haven.
«The diversification of nationalities is evident, with a growing presence of foreign buyers seeking both prestige properties and income-generating assets,» notes Maxime Dubus. In this context, alongside the office sector’s recovery in Geneva, the luxury residential rental market remains very active, with sustained demand for high-end apartments and villas.
Amid the thick fog of Trump-era politics, wealthy Americans—particularly worried about the US dollar’s evolution—are moving part of their assets to Switzerland. Some are even settling there. Bardiya Louie observes a steady return of transatlantic clients who had kept a low profile in recent years, «with the intention of acquiring very high-end secondary residences, especially in the mountains.»
Beyond the luxurious Alpine resorts—led by Verbier and Gstaad—Geneva, an international hub, as well as Zurich, prized for its economic dynamism, are also expected to remain top priorities. And although a massive influx of American clients doesn’t appear imminent, this trend is enough to stir this small niche of the Swiss market, which, due to immigration barriers (such as required work contracts and/or sufficient financial resources), has so far accounted for only 5 to 8% of foreign clientele.
Source : « Immobilier de luxe : La Suisse, refuge doré des investisseurs », article by Viviane Scaramiglia, published on Bilan.ch on 19 May 2025.
