immo!nvest – Die Plattform für Standorte und Immobilien

Category: Switzerland

  • No longer a bonus, but mandatory

    No longer a bonus, but mandatory

    From ESG label to strategic reality
    Sustainability in the real estate industry has had its noisy years behind it. After gaining a certain reputation as a differentiating feature, it has now taken its place as a strategic core issue in the form of ESG criteria. However, this is precisely why the topic is in danger of becoming quiet between reporting obligations and day-to-day business. What becomes the norm disappears from the limelight. But routine is no protective shield. Especially not in an industry that thinks in decades but often makes decisions in years.

    Because while sustainability is being discarded as a done deal in many places, the structural challenges remain. Real estate thinks in cycles of 30, 40 or more years. Net zero by 2050 is therefore not a distant vision, but a real planning horizon. This also means that a large proportion of today’s existing properties can only be properly renovated or completely refurbished once.

    Uncertainty as the new planning reality
    The current geopolitical situation, volatile markets and unclear framework conditions are currently making it difficult to draw up reliable climate reduction paths. In practice, this often leads to decisions being postponed or reduced to the most favorable short-term solution. However, those who persist in linear thinking are limiting themselves in the long term. Climate protection roadmaps, gray energy, life cycle costs and climate risks must be an integral part of every decision in order to achieve climate neutrality in an economically viable way. And not at some point, but now.

    In practice, it is becoming clear that portfolio holders are taking an increasingly differentiated approach to sustainability. In addition to traditional CSR approaches, a clearly risk-oriented approach is becoming established. The focus is on reliable data on condition, consumption and emissions as well as building-specific risk profiles, which are incorporated into the portfolio strategy as control parameters. This makes sustainability a strategic decision-making factor that goes beyond reporting. The location in particular is taking center stage: Real estate must not only be efficient, but also resilient to heat, water, extreme events and social tensions. Those who systematically assess these risks can take targeted action. Everyone else reacts to the consequences later.

  • When cantons go from being a drag to a location factor

    When cantons go from being a drag to a location factor

    In several cantons, digital building permits are no longer a vision of the future, but part of everyday life. Building applications are submitted via central platforms, distributed digitally and reviewed in standardized processes. This relieves the burden on administrations, planners and building owners and makes procedures more transparent for all parties involved.

    Pioneers rely on clear cantonal solutions and cooperation. Shared platforms reduce costs, pool expertise and prevent isolated solutions. At the same time, digitalization is only effective if it is not thought of as an IT project, but as a change to the entire process, from submission to decision.

    Who already approves digitally
    Several cantons use canton-wide platforms to submit and process building applications electronically. Bern with “eBau”, Zurich with “eBaugesucheZH”, Graubünden with ebau.gr.ch or Valais with “eConstruction” show what a digitally managed procedure looks like, in some cases obligatory or with transitional periods. Other cantons such as Solothurn or Aargau rely on the common open source solution Inosca and are introducing their systems in stages.

    However, the degree of digitization differs significantly. In some cantons, digital submission is mandatory; in others, analog and digital channels run in parallel or there are only pilot municipalities. There is no complete, up-to-date overview across Switzerland, and not every platform already maps the process fully digitally end-to-end.

    Politics between speed and legal protection
    Politically, the building permit process is caught in the crossfire. On the one hand, there is the housing shortage, energy and climate targets, and on the other, federalism, appeal rights and complex technical specifications. Business associations are calling for shorter deadlines and more binding regulations, while municipalities and cantons are insisting on their own responsibilities and limited resources.

    Digitalization reveals these tensions. It makes it clear how many places a dossier affects, where there are snags and how different practices are between the cantons. However, it does not replace political decisions. Whether objections are restricted, procedures harmonized or deadlines shortened remains a question of power, not software.

    Costs, benefits and risks
    For administrations, the switch to digital procedures is a tour de force. New specialist applications, interfaces, training and change management cost time and money. Smaller municipalities in particular are reliant on cantonal platforms and joint solutions to carry the burden.

    On the other hand, there are tangible effects. Fewer interruptions to a process, fewer multiple entries, faster workflows. Even more important are the indirect effects. Every shortened approval week reduces project and financing costs, increases the ability to plan and makes a location more attractive. At the same time, the handling of data remains sensitive. Transparency, data protection and acceptance must be carefully balanced.

    From e-dossier to intelligent inspection
    The digitalization of building permits is only just beginning. In the short term, the aim is to introduce cantonal platforms across the board, eliminate media disruptions and manage building applications digitally throughout. At the same time, expectations are growing. Planners want digital interfaces, investors want reliable deadlines and municipalities want more control options.

    In the medium term, the focus will shift to automated plausibility and rule checks, the integration of planning and construction data and AI-supported assistance. They can speed up procedures, enforce standardization and direct resources to those cases where political or technical decisions really need to be made. Whether building permits in Switzerland go from being a drag to a strategic locational advantage will depend on how consistently politicians and administrators manage this change and whether they are prepared to shake up rules, roles and routines.

  • From data to AI in the real estate world

    From data to AI in the real estate world

    This is precisely why it is worth looking back. Because the way in which real estate is planned, operated and managed has changed fundamentally over the last 30 years.

    Thirty years ago, many processes were still surprisingly analog. Data was stored in folders and paper documents, decisions were based heavily on experience and less on systematic analysis. A phase soon began in which the industry developed step by step: processes became more digital, data more important, buildings and companies increasingly networked.

    It was in this environment that pom was founded in the mid-1990s as a spin-off from ETH Zurich – with the idea of integrating tasks, data and processes in the construction and real estate sector more closely. Thirty years later, pom is celebrating its anniversary and the basic question is still very topical: How can real estate, organization and technology be meaningfully combined?

    In terms of technology, we are now at a new turning point. The digitalization of real estate continues to advance: cloud technologies, IoT and digital models are enabling ever more precise mapping of buildings. The so-called digital twin is increasingly becoming a reality and creating new opportunities for automating processes.

    At the same time, the way companies work is changing. Artificial intelligence will change many processes in the coming years – especially where large amounts of information have to be processed and decisions still have to be made manually. Different data can be analyzed more easily, finished results can be generated automatically and decisions can be massively accelerated, even with the involvement of humans. Assistance systems, known as agents, are becoming part of everyday working life.

    At the same time, a look at the industry reveals an interesting area of tension: technological development is progressing rapidly, while implementation in companies is much slower.

    Every year since 2016, pom Consulting AG has measured the digital maturity of the construction and real estate industry as part of the Digital Real Estate & Construction Study. The Digital Real Estate Index currently stands at 4.3 out of 10 points – a slight recovery compared to the previous year, but definitely not a quantum leap.

    Unsurprisingly, artificial intelligence is increasingly coming into focus. According to the latest study, Artificial Intelligence & Machine Learning is once again one of the most frequently used technologies, alongside Platforms & Portals and Data Analytics. However, the assessment of AI is much more differentiated than in previous years: Around two thirds of respondents see a high benefit in it. In last year’s survey, the figure was 75%. With more frequent use of AI, the possibilities of the technology, but also its limitations, are becoming much more visible, making expectations more realistic.

    Technology alone therefore does not determine success. The decisive factor remains the organization: data quality, implementation strength, clear responsibilities – and the willingness to question existing ways of working.

    Perhaps this is the real parallel to the last 30 years.

    Back then, too, it wasn’t just about new technologies, but about new ways of thinking. Artificial intelligence could therefore become the next big development step in the industry – not because it changes everything, but because it helps to better manage the growing complexity of real estate and organizations.

  • New foundation to bring SMEs forward

    New foundation to bring SMEs forward

    Lucerne performs solidly in national competitiveness rankings. In terms of innovative strength, however, the canton ranks at the bottom. Those who fail to address this shortfall risk losing out in the competition between locations in the long term. This finding is the starting point for the planned Lucerne Innovation Foundation and for the special credit that the cantonal government is now applying for.

    The foundation as the linchpin
    The new foundation is not intended to create a parallel structure, but rather to coordinate existing partner organizations and better network their offerings. The focus is on companies in the early stages of development. In other words, where the need is greatest and resources are scarcest. In addition to coordination, the foundation can also co-finance specific implementation projects such as feasibility studies. The foundation board should consist of at least five members, and a four-year performance agreement ensures planning security.

    24 million with a clear earmarking
    One million of the requested 24 million francs will flow into the foundation’s capital. The remaining CHF 23 million is earmarked for the foundation’s services in the years 2026 to 2029. Lucerne is thus positioning itself as a canton that does not wait for federal funding, but acts itself. In addition to national programs such as those of Innosuisse, which support SME innovation throughout Switzerland.

    Part of a larger reorganization
    The foundation is embedded in the canton’s broader location promotion package. In January 2026, the cantonal council approved a package of measures worth around CHF 300 million per year. This was in response to the OECD minimum taxation, which reduces previous tax advantages. The Lucerne innovation contribution alone comprises CHF 110 to 160 million per year for companies that invest in research and development. The Lucerne Innovation Foundation is therefore not an individual measure, but part of a coordinated offensive.

    Referendum in September
    The Cantonal Council has already approved the overarching Location Promotion Act. However, the voters have the final say. The vote is scheduled for September 2026, with entry into force in October 2026. However, the foundation can already be established on the basis of the current legal foundations. The go-ahead does not have to wait for the referendum.

  • PropTech remains invisible and indispensable

    PropTech remains invisible and indispensable

    Mr. Schwyter, you are one of the pioneers of the Swiss PropTech scene. How did your journey in the digital real estate market begin?
    After my time at Homegate, I asked myself how I wanted to use my knowledge further. The digitalization of the real estate industry was an obvious choice. Before the pandemic, however, hardly anyone was interested in this topic. It was Covid-19 that gave it a huge boost. From then on, digitalization was widely accepted and I found my place in the PropTech scene.

    What early experiences at Homegate still shape your view of PropTech today?
    Above all, the joy of experimenting and developing new approaches together. We wanted to create solutions that would advance the industry as a whole. This attitude is still with me today. Being open, working in an interdisciplinary way and testing boldly.

    How digital is the Swiss real estate industry really, if you leave out the marketing jargon?
    Pom’s Digital Real Estate Index has been below five on a scale of zero to ten for years. This clearly shows that the sector has a lot of potential for improvement. There is progress, but not a continuous digitalization push. Overall, we are more at the beginning of a professional digital transformation.

    Where does Switzerland stand in an international comparison? Pioneer or laggard?
    Switzerland has around 480 PropTech companies, which are small but qualitatively strong and diverse. Germany is significantly higher with more than 1,200 companies. We have areas where we are very good and others where there is potential for expansion. Overall, I would describe us as a solid, well-developed ecosystem.

    In your opinion, which PropTech segments are the most advanced?
    Platform solutions in the broad sense, i.e. not just marketplaces such as data platforms, service platforms and ecosystems. This is where we see the greatest professionalization and maturity.

    What kind of startups do you think will be the first to disappear and why?
    Startups that only cover one isolated process step and cannot be integrated. Real estate companies need solutions that combine several process steps or can be easily integrated into existing systems. Silo products will hardly be viable in the future, neither technically nor economically.

    Where do you see obstacles to digitalization in Swiss real estate companies?
    The industry is highly fragmented. A company with 20 or 30 employees is already considered large. Many have neither internal IT skills nor a budget for larger digitalization projects. This also means a lot of work for providers. Instead of five major customers, you have hundreds of small ones. This structure slows down digitalization.

    Which three megatrends will shape the PropTech landscape in the coming years and why?
    Clearly data, sustainability and artificial intelligence. Data is the basis for every well-founded decision. Sustainability is not possible without data, especially with ESG, and AI is a trend that is highly polarizing. However, the impact only comes when the data quality and organization are right.

    Are there technologies that have long been ready for the international market but have not yet arrived in Switzerland?
    No. Everything that is internationally relevant is generally available in Switzerland in high quality. The challenge lies not in the technology, but in its consistent application and integration.

    What does it take for administrations to become more open to technology and more courageous?
    A clear digitalization strategy, because without a target image, any tool introduction is pure actionism. Companies need to understand that digitalization is a cultural and transformation process and not an IT project. Employees need to be supported and motivated, especially in an environment with high staff turnover.

    How can you recognize the quality of a PropTech company?
    The team. The key question is: do the people have the skills, perseverance and openness to really implement an idea? Markets change, products change and only a strong team can support this change. The team is therefore more important than the idea.

    Which approaches manage to map the entire life cycle?
    Not individual all-in-one products, but integrated cycles. When condition analysis, refurbishment planning and facility management are linked via clean data flows, for example, a genuine life cycle is created. Integration is the key.

    In which phases do you see the greatest untapped potential?
    Clearly in the area of construction technology. How we build, what materials we use, how planning and construction processes work – major changes are imminent here. We are already much further ahead in terms of operations and marketing.

    Are the regulatory framework conditions more of a driver or a brake?
    Startups want fewer hurdles and some things have been improved. However, issues such as the tax treatment of founder shares remain complex. Overall, we should reduce regulation. Innovation does not come from new regulations, but from entrepreneurial freedom.

    What political steps would be necessary for the sector to digitalize faster?
    I am clearly in favour of less government. The real estate industry will digitize itself for economic reasons. If companies can win more mandates and improve quality with the same employees, they will use digital solutions. Without any new political requirements.

    What cultural and organizational stumbling blocks do you encounter most often?
    The misconception that digitalization is a tool issue. In reality, it’s about processes, collaboration and roles. Many underestimate the cultural change. High staff turnover also makes it difficult to establish a digital culture.

    Which developments will irreversibly change the industry?
    Anything that simplifies or automates repetitive tasks and thus creates productivity gains. Whether you call this digitalization or efficiency enhancement is irrelevant. AI is one component, but not the only one.

    If you had to found a new PropTech today, in which area would it be?
    Probably in the area of marketing, because there is a lot of creative potential there. At the same time, I would like to see existing solutions grow more strongly. We have enough good providers, we don’t necessarily need any more.

    Where will PropTech Switzerland be in 2030?
    PropTech will be indispensable, but not in the spotlight. It’s not “sexy” like climate or energy issues. PropTech doesn’t make the headlines, but it ensures that the industry functions digitally, data-based and efficiently. This is precisely why PropTech will play a central role in the long term.

  • Three exceptions to planning security for Bremgarten

    Three exceptions to planning security for Bremgarten

    Bremgarten began the overall revision of its land use planning over seven years ago. Regulations and documents were revised in several stages, always with the involvement of the population. In October 2024, the municipal assembly approved the revision, followed by approval from the cantonal government in December 2025. Two appeals lodged against this were both rejected.

    Rezoning as the centerpiece
    The most important measure in the settlement area is the rezoning of the Oberebene area from a pure work zone to a new residential and work zone. At the same time, a core zone for the development of the station area will be established and the Oberebene work zone will be strengthened as an economic focus of regional importance. This creates scope for investment and urban development.

    New regulations for cultural land and the old town
    The cultural land plan establishes binding overarching open spaces and water areas. This includes the water and migratory bird reserve of national importance. The regulations for building in the old town were also reviewed and clarified. An important signal for property owners and investors who need planning security.

    Three points still open
    The government council sent back three amendments. The non-protection of two properties at Birrenbergstrasse 10 and Glärnischweg 5/7 and the proposed deletion without replacement of a paragraph on roof breakthroughs in the building and usage regulations. In November 2025, the city council had already secured a loan of 200,000 francs for the reprocessing.

    Municipality to decide in June
    The municipal assembly will meet again on June 11, 2026. This is when the three rejected items are to be finally resolved. Bremgarten is nearing the end of a long planning process and the start of a new phase of urban development.

  • 80 centimeters slow down 63 million project

    80 centimeters slow down 63 million project

    The secondary school community of Arbon applied for an exemption permit for the planned Lärche school center. Specifically, this concerns the attic storey, which is 4 meters high instead of the 3.2 meters stipulated in the building regulations. The maximum permissible overall height of 16 meters is nevertheless undercut at 15.5 meters. A technical borderline case, not a fundamental problem.

    One man, one objection
    Architect Gustav Maurer has lodged an objection to the application for exemption. He describes the project, which emerged from a competition, as a “proven planning error” and considers it irresponsible in view of the global economic situation. Maurer claims that the required construction volume could be realized for CHF 43 million. This is around 20 million less than the credit of 62.9 million francs approved by the people.

    Timetable is faltering
    The secondary school authorities wanted to submit the building application in November. Due to the objection and the resulting legal uncertainty, this deadline is beginning to waver. If the process is delayed, there is a risk of follow-up costs in the millions due to rising construction prices, longer planning times and postponed building approvals.

    Clear words from the school president
    Secondary school president Robert Schwarzer finds clear words. Maurer has been opposing almost everything that is to be built in Arbon for years. The right to object is undisputed as a fundamental right, but what is being practiced here is an “expression of harassment and arbitrariness”. The objector seemed to be indifferent to the potential multi-million euro follow-up costs.

    Support from the population
    The project has democratic legitimacy. Almost 60 percent of voters were in favor of the 62.9 million loan in September 2025. The ground-breaking ceremony was planned for September 2026, with occupancy scheduled for the 2028/29 school year. Whether this timetable holds will now be decided by the Legal Service. Not at the ballot box.

  • What was considered a bargain becomes a billion-euro project

    What was considered a bargain becomes a billion-euro project

    When the city of Zurich announced the renovation of the armory on the barracks site in Zurich-Aussersihl, it still sounded like a manageable project. The initial cost estimate was around 55 million francs. Today, a figure of just under 200 million francs is on the table that makes even experienced city parliamentarians sit up and take notice. A multiplication that needs to be explained.

    Dilapidated fabric drives up costs
    The main driver is the fabric of the building itself. The historic arsenals are in a far worse condition than originally assumed. Pollutant remediation, structural interventions and monument conservation requirements add up to a cost that was simply underestimated in advance. Added to this are increased construction costs and an expanded usage concept that requires higher technical standards.

    Culture, commerce and community
    What is to be created after the renovation has substance. The city council is planning a mixture of cultural use, small businesses and publicly accessible spaces. A lively meeting place in the middle of Zurich-Aussersihl. The social mix is an explicit part of the concept. The aim is to enhance the barracks area as a whole, not just the arsenals themselves.

    Long road to opening
    The timetable is ambitious and the history of the project calls for caution. The renovated arsenals should be ready for occupation in 2034 at the earliest. Until then, the municipal council will need to approve a loan, an approved construction project and a smooth construction process. In Zurich, experience shows that these three factors rarely all work smoothly at the same time.

    Monument obliges
    The arsenals are part of the protected barracks area. An ensemble that makes the city’s history visible. Demolition is out of the question. If you want to preserve historic buildings, you have to be prepared to pay for them. The question is not whether, but how the city finances this task and communicates it transparently, comprehensibly and with clear added value for all Zurich residents.

  • Owner-occupied rental value not until 2029

    Owner-occupied rental value not until 2029

    In the fall of 2025, the Swiss population voted clearly in favor of abolishing the imputed rental value. The fictitious rental income that homeowners have had to declare as taxable income for decades, even though not a single franc flows in, has thus become politically obsolete. However, it took the Federal Council until the end of March 2026 to set a date for its entry into force and it ended up in 2029.

    Mountain cantons put the brakes on
    After the vote, Federal Councillor and Finance Minister Karin Keller-Sutter still mentioned 2028 as the earliest possible date. The mountain cantons, including Valais, pushed for 2030, as they need time to introduce a new tax on second homes to compensate for their tax losses. The year 2029 is the result of this trial of strength.

    70 million franc hole
    The canton of Valais alone is expecting tax losses of over 70 million francs as a result of the reform. The new property tax for second homes is intended to close this gap. But its implementation is complex. Cadastral values are outdated and the definition of second homes for private use is unclear. The question of whether the municipalities or the canton will levy the new tax is still open.

    Homeowners are outraged
    The Valais homeowners’ association campaigned strongly for the abolition of the tax during the referendum campaign. Association director Reinhard Meichtry commented on the Federal Council’s decision, saying that he initially believed it was an April Fool’s joke and that the decision was “absolutely unacceptable”. Meichtry announced that he would apply to the Federal Council for a rejection and also doubted the seriousness of the communicated tax loss figures.

    What applies now
    The current system will remain unchanged until the end of 2028. Owners continue to declare the imputed rental value and can deduct mortgage interest and maintenance costs. Anyone planning major renovations or mortgage adjustments should make strategic use of this transition phase, as most of these deductions will no longer apply when the system changes in 2029.

  • Five stones, 220 apartments, one future

    Five stones, 220 apartments, one future

    The Brisgi has roots. In the 1940s, the site was home to a shanty town for up to 1500 employees of the former BBC industrial group. Many of them were guest workers with their families. In the 1960s, a high-rise building and two apartment blocks followed, which still stand today and are carefully embedded in the new development. What was once a workers’ housing estate is now becoming a modern urban building block.

    Three sponsors, one goal
    The project is backed by three non-profit organizations that are jointly developing the 6.5-hectare site: Wohnbaustiftung Baden, Logis Suisse AG and Graphis Bau- und Wohngenossenschaft. Each will take over one of the three buildings and design them independently. The rents are calculated to cover costs. Profit is not the goal, but affordable living is.

    Wood, concrete and sun
    Nine five- to six-storey buildings, pergolas, green inner courtyards and a central square will characterize the future Brisgi. The hybrid construction method combines wood and concrete. Concrete only where it is really needed. Solar panels will produce electricity on around half of the roofs and the site will be connected to the district heating network of Regionalwerke Baden. The aim is to achieve the gold certificate of the Swiss Sustainable Building Standard.

    Values carved in stone
    Five stones, found during the excavation of the building pit and engraved by a stonemason, represent the self-image of the development. Common ground, the future, sustainability, affordability and living. City President Markus Schneider, who carried the stone with the inscription “Future”, summed up the 14 years of planning work: “Now the lively Kappi is becoming even livelier. A neighborhood within a neighborhood is being created here.” The five stones will be clearly visible in the development in future.

    Milestones on schedule
    After years of objections and a planning process since 2012, things are now picking up speed. The building permit for all three courtyard buildings was granted in April 2025 and construction started on schedule in the fall of 2025. Letting will start in the second half of 2027, with occupancy scheduled for the first half of 2028. The design architects are the Baden-based firm Meier Leder Architekten together with the Zurich firm Müller Sigrist, whose “Kandalama” project was chosen as the winning project in 2016.

  • Horw is growing upwards, 14 storeys at the railway station

    Horw is growing upwards, 14 storeys at the railway station

    Three striking new buildings with inner courtyards are being built between the railway station and Ebenaustrasse. The municipality is planning an eight-storey building at the roundabout, a 14-storey high-rise to the south of it as a vertical accent and an eight-storey longitudinal building facing Ebenaustrasse. The new bus station will be located in between, closer to the railway line than today and much more convenient for all those who change buses every day.

    “Janus” favours greenery and glass
    Further east, along Ebenaustrasse and Ringstrasse, the municipality has held an architectural competition. The winning project is called “Janus” and envisages five largely glazed, six- to seven-storey apartment blocks, surrounded by trees and connected by a shared forecourt. The buildings appear bright and open, the ensemble creates urban quality without anonymity.

    Commercial yes, but how much?
    At least 20 per cent of the space in the new buildings is to be used for commercial purposes. This is envisaged by the municipality, and not just on the ground floor, but up to the third or fourth floor. The property owners take a critical view of this. They point to a lack of demand and draw on their experience with the previous “Horw centre” open space concept. The municipal council is willing to talk, but reserves the right to add further storeys if necessary.

    Part of a big picture
    The railway station project is embedded in the overall “Horw Mitte” project, which covers around 12 hectares and plans 1,000 new flats and 800 new jobs in the long term. A large part has already been realised to the west of the tracks, while the eastern part is now catching up. Over two decades, the municipality is thus developing a former peripheral area into a compact, well-developed centre.

    Residents’ Council has the floor
    The bus station was already approved by the Residents’ Council on 27 March 2026, with construction not due to start until 2028 at the earliest. The vote is still pending for the Part East development plan. This requires the approval of the cantonal government of Lucerne and a referendum-free conclusion. It is also still unclear who will bear the planning costs. So there is still a lot to be clarified before the construction cranes move in.

  • Zurich is still going strong, but for how much longer?

    Zurich is still going strong, but for how much longer?

    The Zurich financial centre employs over 102,000 full-time positions at the end of 2024, 44,000 of which are in the banks alone. With a gross value added of CHF 32.8 billion, the sector generates more than one sixth of Zurich’s total economic output. The banks also cover around 30 per cent of the financing requirements of companies and households throughout Switzerland. These are not just abstract figures, they are the economic basis of an entire metropolitan region.

    Half the city’s coffers from one sector
    The study conducted by management consultants Oliver Wyman on behalf of the Zurich Banking Association makes one figure particularly clear. Around half of corporate taxes in the city of Zurich come from banks and insurance companies. With 10 per cent of jobs, they generate 16 per cent of value added, which is far above average productivity. Zürcher Kantonalbank also distributed a record amount to the canton and municipalities for 2025.

    Fewer banks, more jobs
    The number of banks operating in the Zurich region has fallen from 94 to 78 since 2015. Despite this, employment has risen steadily, with above-average growth since 2017. Bank-related service providers such as fintechs, asset managers and consulting firms have created jobs where traditional institutional structures have been dismantled. The sector is consolidating, but not shrinking.

    Regulation as a sticking point
    CBA Managing Director Christian Bretscher poses the crucial question. What happens if the framework conditions gradually deteriorate? He calls the planned increased capital requirements for UBS “incomprehensible”. The association is calling for targeted banking regulation with a sense of proportion, not blanket tightening that could force internationally active institutions out of Zurich. Swiss banks already contribute 5 per cent to national GDP and directly employ around 158,000 people.

    What is at stake
    The Zurich financial centre is in direct competition with London, Singapore and Frankfurt. Special regulatory burdens or tax deteriorations affect not only the banks, but the entire city economy. Anyone who draws 50 per cent of corporate taxes from a single sector has an interest in ensuring that this sector remains, grows and invests. This is not a lobby statement, this is arithmetic.

  • 47 million for a new heart in the Bernese Oberland

    47 million for a new heart in the Bernese Oberland

    The overall project will cost 47 million francs. Financing is being provided by a newly established site development company in which four partners are participating. The city of Thun is granting a mortgage-backed, interest-free loan of 16 million francs and is also guaranteeing a cantonal loan of 10 million francs as part of the new regional policy. Empa itself is investing CHF 16 million in laboratories and a technical center, while Halter AG is contributing CHF 5 million as a development partner. Once the project is completed, the company will be transferred to investors.

    Building permit is available
    The way was not clear. Objections delayed the process by around a year. The building permit for construction site B5 in Thun North has now been granted, with construction set to begin in spring 2027 and completion scheduled for the end of 2029. The city parliament will decide on the loan on 30 April 2026. A clear yes is needed to keep to the schedule.

    Empa in Thun since 1994
    The Swiss Federal Laboratories for Materials Science and Technology has been conducting research in the field of high technology and materials in Thun since 1994. The new building is not a relocation, but an expansion. Mayor Raphael Lanz puts it in a nutshell. Empa secures highly qualified jobs in research and development in the long term, generates regional added value and strengthens Thun as a location for technology and innovation in the Canton of Bern.

    From barracks site to urban quarter
    Thun North is the largest urban development project in the Bernese Oberland. On the 60-hectare site, research companies, businesses and housing are replacing military use. in the long term, 6,500 jobs are to be created; around 2,300 are already located there today. A new Thun Nord S-Bahn stop is included in the federal parliament’s 2035 expansion plan and will connect the district directly to long-distance transport.

    Halter as a lever
    It is no coincidence that Halter AG is contributing CHF 5 million to the project as a development partner for construction site B5. The company won the project competition in 2022 together with Bauart Architekten and Balliana Schubert Landschaftsarchitekten. The composition shows the concept. Private capital and the public sector are pulling together, and the location is sharing the risk because it is thinking about the return.

    What counts now
    April 30 is the date that decides everything. If the city parliament approves the loan, planning gets underway. If the loan fails, the entire timetable is thrown into disarray. This would be a setback for Thun North and a location issue for Empa. The city has already paid its share of the bill. Now it’s up to parliament.

  • Graubünden builds bigger, more expensive, longer

    Graubünden builds bigger, more expensive, longer

    128 construction sites do not mean relief, but concentration. Instead of many small interventions, the focus in 2026 will be on complex infrastructure projects that require more manpower, longer construction times and higher budgets. Traffic light systems will be used at 67 of the 128 construction sites to guide traffic through in an orderly fashion. The Graubünden Civil Engineering Office has set clear priorities.

    La Punt freed from through traffic
    The largest project is the La Punt bypass in the Engadin. In future, a 584-metre-long tunnel will run under the village center and a 55-metre-long bridge will cross the Inn. The total costs amount to 80 million Swiss francs and the construction period is eight years until 2033. After the ground-breaking ceremony in September 2025, the preliminary cuts in the Arvins area will be made in 2026. It is a relief for La Punt and a leap in quality for the Engadin.

    New tunnel for the Surselva
    Between Disentis and Curaglia, a new 500-metre-long tunnel will replace the dilapidated Las Ruinas tunnel and its two galleries. The work will take three years and traffic will remain in operation throughout the construction period. As the new tunnel runs directly next to the existing one in some places, night-time closures are unavoidable. An intervention that requires consideration, but is necessary.

    malix five years of work before completion
    On the Julierstrasse between Chur and Malix, the signs are pointing to the finale. The section lies in a landslide area and has been stabilized, widened and straightened over five years. The final work should be completed by July. As a visible sign of the new start, the section will be given a cycle lane. A project that was born out of necessity and ends up as a modern stretch of road.

    infrastructure as an investment
    Graubünden’s 2026 construction season shows that infrastructure is not a matter of course. Operating 1360 kilometers of cantonal roads through alpine terrain, landslide areas and flood zones requires continuous investment. Fewer construction sites, larger projects – this is not a cost-cutting exercise, but a strategic decision for sustainable quality.

  • Rent cap eats its own children

    Rent cap eats its own children

    Since the Housing Protection Ordinance came into force in Basel-Stadt in May 2022, planning applications for rental apartments have plummeted by 76 percent. in 2024, only 151 new-build apartments were completed in the city canton, less than a quarter of the long-term average. While Zurich recorded a 20 percent increase in building applications in the same period, construction activity in Basel effectively came to a standstill.

    No renovation, buildings fall into disrepair
    Regulation not only slows down new construction, it also paralyzes the renewal of existing buildings. Craft businesses are complaining about a lack of orders; individual companies are looking for work 40 kilometers away in Fricktal. Necessary energy-efficient renovations are not being carried out and properties are falling into disrepair. This ultimately affects the tenants themselves and thwarts any claim to climate protection.

    Geneva 40 years of regulation, 40 years behind
    Geneva has had one of the strictest tenant protection laws in Switzerland since 1983. The result is sobering. 83.5 percent of residential buildings over 40 years old have never been comprehensively modernized, compared to 47.6 percent in Basel and 41.3 percent in Zurich. New tenants in Geneva pay an average of 30 percent more per square meter than existing tenants. Strict tenant protection therefore primarily protects those who already have an affordable apartment. Not those who are looking for one.

    The real problem, too little supply
    If you want to reduce rents, you have to increase supply. This means faster approval procedures, more densification, more replacement new builds and extensions and fewer objections. The Zurich Cantonal Council has already drawn up two counter-proposals that focus on better framework conditions rather than bans. This is the right direction.

    What Zurich needs to decide
    The housing market in the canton of Zurich is under pressure, that is real. But a rent cap does not solve the problem, it exacerbates it. Basel and Geneva are not a theory, but a living warning. On June 14, Zurich has the choice of learning from its mistakes or repeating them.

  • Who pays, who lives, who benefits?

    Who pays, who lives, who benefits?

    The SOSDA framework developed by Zimraum and Stratcraft records the social performance of residential real estate along nine key figures in three scopes: tenants, neighborhood and society. The data pool comprises 30 portfolios with around 68,500 apartments from 17 owners. These include pension funds, investment foundations, listed funds and non-profit housing developers. A database that allows comparisons to be made for the first time.

    Affordability is holding up better than expected
    78 percent of the apartments in the data pool are considered affordable according to the SOSDA definition. The net rent accounts for less than a third of the monthly taxable median income in the respective municipality. Even in the new-build segment, this figure is 58 percent. In institutional portfolios, 48 percent of new-build apartments reach this threshold. This contradicts the widespread view that new construction and affordability are fundamentally mutually exclusive.

    High satisfaction, solid management quality
    Tenant satisfaction is remarkably high. 90 percent of respondents are somewhat to very satisfied with their apartment. 83 percent also give their property management good marks. The residential environment is also impressive. 85 percent are satisfied with their neighborhood, 77 percent rate the neighborhood conditions positively. Quality is obviously not a product of chance in the Swiss housing market.

    Family apartments remain under-occupied
    When it comes to occupancy efficiency, the benchmark reveals a structural weakness. Only 58 percent of apartments fulfill the “room minus 1” rule. For family apartments with four or more rooms, this proportion drops to 41 percent. Although non-profit portfolios perform slightly better than institutional portfolios when it comes to family apartments, the difference remains small. This is a clear area for optimization for all market participants.

    Letting practice under the magnifying glass
    For the first time, the benchmark also documents to whom apartments are actually let. The range is considerable. Depending on the portfolio, between 46 and 100 percent of family apartments went to households with children. Only 9 percent of apartments were rented to senior citizens. The proportion of affordable apartments that went to low-income households varied between 30 and 50 percent. The database is still limited, but the direction is clear. Social performance can no longer be ignored in the future.

  • Successful job coaching from SVIT Zurich!

    Successful job coaching from SVIT Zurich!

    SVIT Zurich actively supports job searches in the real estate sector. Applicants are not left to their own devices: On request, they can receive targeted support when entering the real estate industry. An experienced real estate professional accompanies them as a personal coach, analyzes their initial situation together and defines effective measures for a successful job search. In this way, participants acquire additional skills that improve their application chances in the long term.

    The job placement service is free of charge for members and non-members alike, provided they have completed or are currently attending the “Career changer assistant in real estate management and marketing” or “Real estate management clerk” course at SVIT Zurich in Oerlikon. With this offer, the association is making an active contribution to combating the shortage of skilled workers and at the same time ensuring that the candidates placed have a sound basic education in the industry at SVIT Zurich.

    More and more members are making use of this qualified specialist resource – with consistently positive feedback. They benefit from the opportunity to build up new team members according to their needs and deploy them in the long term. In addition, many candidates bring valuable additional skills from their previous professional life.

    Interested parties can register by sending an e-mail to diana.waly@svit.ch. SVIT Zurich has an official permit from the Canton of Zurich for private employment agencies.

    Further information on the process and application videos of current candidates can be found at the following link:

    https://www.svit.ch/de/svit-zuerich/themen-services/einstieg-die-immobilienbranche-bewerbungsvideos-quereinsteiger

  • That’s what it’s all about: usage and operating concepts as the key to needs-based sports facilities

    That’s what it’s all about: usage and operating concepts as the key to needs-based sports facilities

    From a competition venue to a facility for leisure and exercise
    Over the last five decades, the sporting behaviour of the population – whether on an individual basis or in organized sport – has changed dramatically. New training habits, a significant rise in population figures, increasing professionalization in club sport and changing social needs have led to facilities having to perform significantly better today than they did 50 years ago. This also includes aspects such as gender and age equality, which are now taken for granted.

    Accordingly, at the beginning of every infrastructure project, the focus should not be on the structural solution, but on the question of a suitable utilization and operating concept (including a profitability analysis). All too often, however, a planner is hastily commissioned before the project fundamentals and dependencies on other institutions and projects have been identified. The result is then the development of volumetric options, but not strategic options for the communities concerned. As a specialist in strategic utilization and operational concepts, BPM Sports has more than 20 years of experience in this field.

    So what characterizes a good utilization and operating concept? In principle, it comprises three key levels:

    • Strategic-conceptual: purpose, target groups, offer, business case, strategy, sponsorship
    • Operational-conceptual: Maximum utilization and use with added value
    • Operational: staffing requirements, maintenance, visitor management, self-financing of maintenance

    At the strategic level, the question of the raison d’être – the purpose of the facility – must be answered. This needs to be sharpened and clearly defined for all stakeholders. The better this is done, the easier it will be to communicate with taxpayers and the parties ultimately involved in the planning.

    The key elements include

    Political leadership: sports facility projects require broad support. Perceptible, continuous and strong political leadership is therefore essential.

    Addressed target groups: The user groups and their needs must be identified. This includes recording routines and expectations, but also future developments. Frequencies and capacities derived from this are key to optimally utilizing the facility for both users and operators.

    Sharpened offer: The available space and functionalities are formulated in a targeted manner, with a focus on energy and personnel costs. These are based on the formulated needs, with a direct impact on the follow-up costs of a facility.

    Construction costs vs. follow-up costs: The latter are (too) often overshadowed and only tend to come into focus in a later project phase. An early consideration of the follow-up costs is helpful to ensure the financial viability of a system.

    System strategy: An effective lever for predicting operating costs and earnings potential. Particularly in the case of seasonal facilities such as outdoor pools or ice sports facilities, complementary or supplementary offers can increase income and influence resource requirements.

    Operator model: There is a wide variety of models here. Different organizational forms (administrations, public limited companies, private-public partnerships) offer different advantages, whereby PPPs have become increasingly established in recent years and offer new opportunities, especially for less profitable club and popular sports.

    Other success factors at operational and conceptual level are

    Utilization: Generating high utilization is a challenge. This is because it does not always go hand in hand with profitability due to the different purchasing power of the target groups and unavoidable wear and tear. Checkrooms and loading areas are also a decisive factor. If they were neglected during construction to save money, this has a negative impact on capacity and therefore on maximum utilization.

    Staff: Employees of sports facilities are identification factors. In order to optimally promote this potential, it is important to keep operating routes short and clear and to design efficient work processes. This can be ensured with the appropriate layout of the facility and the individual rooms.

    Conclusion: A utilization and operating concept for sports facilities is a complex interplay of strategic, operational and economic factors. Correctly compiled and applied, it forms the basis for the long-term success and profitability of a facility.

    BPM Sports is a specialist for public sports infrastructures operating throughout Switzerland and based in Bern. With over 20 years of experience in consulting, monitoring and supporting a wide range of sports facility projects and operations, the company, founded in 2006 by owner Rainer Gilg, is one of the leading service providers in this field.

  • New production facility strengthens international industrial location

    New production facility strengthens international industrial location

    The new global Toblerone competence center in Bern now covers 90 percent of global demand for the iconic triangular chocolate. Guy Parmelin officially inaugurated the expanded plant on March 10. “We are incredibly proud of the new Toblerone production line and the modernization of logistics and infrastructure,” said plant manager Thomas Kauffmann in a press release.

    Mondelēz International, the Chicago-based parent company of Bern-based Mondelez Schweiz Production GmbH and Mondelez Schweiz GmbH in Opfikon, has invested 65 million Swiss francs in the installation of this new, state-of-the-art production line. This is one of the largest investments in the company’s chocolate production network in the past ten years.

    “If there is one product that represents Switzerland worldwide, it is chocolate,” said Parmelin in his speech, according to the press release. “And Toblerone has a very special place among Swiss chocolates.” It is “a symbol of Swiss identity and quality par excellence. Identity and quality. As President of the Swiss Confederation and Minister of Economic Affairs, I am therefore particularly pleased that around 90 percent of Toblerone production will continue to be made here in Bern on this new production line.”

    Toblerone is exported from Switzerland to more than 120 countries around the world. As Mondelēz emphasizes, the iconic 118-year-old brand is well positioned to grow globally in the premium segment, benefiting from its high brand awareness and leadership position in the World Travel Retail business. “We have always been proud to manufacture here in Switzerland,” said Iain Livingston, President for Toblerone and World Travel Retail. “The investment underlines our strong commitment to the site and is a key milestone on our journey to lead global growth in the premium chocolate segment.”

  • Historic Spa District gets a new perspective for use

    Historic Spa District gets a new perspective for use

    Verenahof AG, based in Baden, wants to revitalize the building complex in Baden’s Spa District. To this end, it concluded a contract with the city on February 5. According to a press release, this forms the basis for the development and use of the complex and is intended to provide planning security.

    Verenahof AG has developed a utilization concept in collaboration with the city and the cantonal monument preservation authorities. This envisages combining assisted living for older people with cultural offerings and publicly accessible uses. The technical feasibility has already been examined. Now a building application and a cost estimate are to be drawn up within twelve months under the management of Verenahof AG.

    “The concept for services in the areas of prevention, rehabilitation and healthy ageing is a perfect fit for this historically valuable location for Baden,” said Markus Schneider, Mayor of Baden, in the press release. “The Spa District has been investing in health since Roman times – it is important for Baden and the region that this offering continues to be expanded in the future.”

    The complex has been vacant since the closure of the Verenahof, Bären and Ochsen hotels in 1987 and 2004. It has been under national protection since 2019. As the owner of Verenahof AG, the Bad Zurzach Baden Health Promotion Foundation has examined several uses, including for a rehabilitation clinic. These possible uses came up against the economic and structural framework conditions as well as the requirements for the preservation of historical monuments.

  • Land belongs to everyone – except SBB owns it itself

    Land belongs to everyone – except SBB owns it itself

    At the end of the 1990s, Parliament separated SBB from the federal government. This gave it the freedom to manage its most valuable asset. Huge plots of land in prime locations throughout Switzerland. There were no clear specifications as to how many apartments should be built and at what prices. The Federal Council merely demanded that the proceeds flow into the pension fund and the railroad infrastructure. This was the birth of a system that is still a source of controversy today.

    3.5 billion for whom?
    Since 2003, CHF 3.5 billion has flowed from the SBB real estate portfolio into the railroad infrastructure. SBB sees this as a contribution to society. Carlo Sommaruga, SP member of the Council of States and President of the Swiss Tenants’ Association, takes a different view. SBB has “almost fully exploited” the financial value of its properties at the expense of the social component. It is particularly offensive that parts of these properties were once expropriated in favor of the former state-owned company.

    Europaallee as a mirror
    The prime example is in the middle of Zurich. A 4-room apartment on Europaallee costs around CHF 5,000 per month. For the tenants’ association, the project has become a symbol of real estate speculation with public land. SBB counters that it is a fair landlord and that its apartments are on average below the market price. But the impression of maximum densification for maximum profits persists.

    Lausanne escalates
    In Lausanne, the conflict is coming to a head. The “La Rasude” project right next to the train station is set to accommodate around 500 residents and 1,200 jobs. However, only 20 percent of the living space is earmarked for moderate rents, even though SBB officially promises to rent out more than half of its apartments at low prices. The result is now almost 1000 objections. Construction work could start in 2029 at the earliest.

    The framework is lacking
    Salomé Mall, Head of Development at SBB Real Estate, emphasizes that the profits are used for rail operations and relieve the burden on the public purse. The argument is understandable, but falls short. As long as there are no legal requirements for housing shares and rents, the orientation towards the common good remains voluntary.

  • Ein Quartier ohne Einsprache

    Ein Quartier ohne Einsprache

    Der Luzerner Regierungsrat genehmigte den Bebauungsplan Schützenmatt im Januar 2026. Der Emmer Einwohnerrat hatte ihn bereits am 1. Juli 2025 in zweiter Lesung einstimmig verabschiedet. Nach Ablauf der Beschwerdefrist liegt nun Rechtskraft vor, kein einziger Rekurs wurde eingereicht. Das ist bei einem Projekt dieser Grössenordnung keine Selbstverständlichkeit, sondern ein Zeichen breiter Akzeptanz.

    250 Wohnungen, 4000 Quadratmeter Leben
    Auf dem Areal entstehen rund 250 Wohnungen in verschiedenen Grössen sowie Gewerbe-, Gastronomie- und Dienstleistungsflächen von insgesamt rund 4000 Quadratmetern. Der Wohnungsmix reicht von kleineren Einheiten über Familienwohnungen bis zu Alterswohnungen . Bewusst konzipiert für alle Lebensphasen und verschiedene Einkommensstufen. Ein Teil der Wohnungen muss als preisgünstiger Wohnraum realisiert werden.

    Weniger Auto, mehr Velo
    Das Mobilitätskonzept setzt klare Prioritäten sodass Fuss, Velo und öffentlicher Verkehr Vorrang haben. Geplant sind über 970 Veloabstellplätze, darunter eine gedeckte, öffentlich zugängliche Velostation mit mindestens 300 Plätzen direkt an der Bahnhofunterführung. Für Autos stehen maximal 120 Parkplätze in der Tiefgarage bereit. Die Velohauptroute entlang der Gleise wird kreuzungsfrei geführt. Somit entfallen Konflikte mit dem Fussgängerverkehr.

    Die Stadt als Schwamm
    Das städtebauliche Konzept stammt von Fischer Architekten, deren Wettbewerbsbeitrag mit dem ersten Preis ausgezeichnet wurde. Im Zentrum steht das Schwammstadtprinzip. Sickerfähige Beläge, Bäume auf natürlichem Boden und begrünte Dachflächen speichern Regenwasser und geben es kontrolliert wieder ab. Mindestens 60 Prozent der Dachflächen werden intensiv begrünt. Das verbessert das Mikroklima und macht das Quartier klimaresilient.

    Ab 2027 wird gebaut
    Mit der Rechtskraft liegt die Umsetzung nun bei den Grundeigentümerschaften. Die Realisierung ist in vier Etappen geplant, ein Bezug der ersten Wohnungen ist ab rund 2030 realistisch. Christine Bopp, Leiterin Planung der Gemeinde Emmen, spricht von einem abgeschlossenen langen Planungsprozess, der nun Planungssicherheit für alle Beteiligten schafft. Emmenbrücke bekommt sein neues Herz und baut es mit Bedacht.

  • Artificial intelligence: Absolutely, but..

    Artificial intelligence: Absolutely, but..

    Whether the English “AI” or the German “KI” – artificial intelligence is currently omnipresent. How its impact is assessed depends heavily on the perspective of the individual: For some, the opportunities outweigh the risks, while others primarily see risks. However, one thing is undisputed: the technology is here to stay.

    For us as a digital real estate platform, an open approach to technological innovation has always been part of our DNA. With ImmoScout24 and Homegate, we have been actively shaping the real estate market for over two decades. Our principle also applies here: AI must not be an end in itself, but should act as an unprecedented “enabler”. After all, the true potential of these two letters lies in the accelerated development, smart expansion and enhancement of innovative products that can create real added value and achieve daily efficiency gains.

    In the professional real estate sector in particular, the benefits of AI can be seen in its productive integration into existing, established processes. While this enables us as platforms to develop market-oriented products in a more agile way, it creates new efficiency gains for brokers and property managers in their day-to-day operations. The decisive factor is not the technology itself, but its real contribution.

    Two examples from the SMG Real Estate ecosystem illustrate this:

    • Our AI-based listing text creation saves an average of 14 minutes per listing. Extrapolated to an entire portfolio or a marketing campaign, this results in a substantial gain in productivity. The time saved can be invested specifically where it makes the biggest difference – in consulting, negotiation and customer relations. Anyone who instead advertises on ImmoScout24 or Homegate as a private individual can use this new intelligent function to partially compensate for a lack of marketing experience.
    • The new “Insight Hub” for real estate professionals provides AI-driven answers to questions about the potential and performance of listings that were previously difficult to narrow down. Every week, real estate agents and managers receive an overview of the listings with the greatest potential for improvement, including specific recommendations for action and the expected increase in visibility.

    This is just a small excerpt, plus numerous current developments at SMG Real Estate, including “Agentic AI”, a digital companion for real estate professionals in their day-to-day work – from the transcription of meeting notes to seamless CRM integration. But more on that in the near future. At the same time, technological innovation requires continuous investment – especially in cybersecurity. After all, it’s not just the right players who benefit from AI. State-of-the-art protection mechanisms, two-factor authentication, integrated access controls, etc. are essential to secure data and effectively prevent attempted fraud. Trust remains the central currency in the real estate market – especially in the digital one.

    But thanks to these targeted, ongoing investments in AI applications, we at SMG Real Estate are actively continuing to shape our role as the “digital shaper” of the Swiss real estate industry. Our goal is and remains first and foremost to make real estate professionals not only more efficient, but also more successful in the long term. This is also what our vision stands for: “Next-Gen Swiss Real Estate – digital and simple.”

  • The turnaround is real USZ turns positive

    The turnaround is real USZ turns positive

    Anyone driving through the Hochschulquartier will see it immediately. Cranes. Building pits. Large construction site. Campus Mitte is being built and with it the ambition to redefine cutting-edge medicine in the long term. The investments are underway. The question has long been, how will the balance sheet support this? Now there is an answer.

    The turnaround is real
    36 million francs profit. For the first time since 2019. A year earlier, a loss of 31 million francs. The contrast is clear and the direction is right.
    Inpatient cases rose by just under 3 percent, outpatient visits by 5 percent to around 882,000. More patients, better capacity utilization, more consistent processes. The result is no coincidence. The turnaround is real. The work has only just begun.

    Digitalization is paying off
    Since CEO Monika Jänicke took the helm in 2023, the clear strategy “USZ 2030” has been in place. More efficient processes, greater digitalization, focused medicine. The EBITDA margin rose from 2.9 to 6.6 percent. Strong, but not yet at the finish line. As the owner, the canton is demanding 10 percent. At the same pace, this can be achieved in 2026. The target for the equity ratio, just under 40%, has already been met.

    The canton is moving with
    Investments are running in parallel with the increase in earnings. Around CHF 100 million was invested in real estate in both 2023 and 2024. The canton is supporting the project and is borrowing CHF 690 million on the capital market. This at better conditions than the hospital itself would ever receive and passes the money on.
    The retained earnings, which fell to under 200 million francs in 2024, have now risen again to around 230 million francs. The cushion is growing.

    Not just the USZ
    The positive trend is not an isolated case. Winterthur Integrated Psychiatry closed 2025 with a profit of CHF 1.8 million. After red figures in the previous year. Patient numbers up 5 percent. This shows that cantonal healthcare institutions are responding to cost pressure with structure, efficiency and clarity.

  • Regensberg fights for survival

    Regensberg fights for survival

    Regensberg has exactly 477 inhabitants at the end of 2024. Despite two tax increases in recent years, there is not enough revenue to finance the municipality’s tasks. The structural deficit threatens the independence of the medieval country town on the rocky spur above Dielsdorf. A merger with a neighboring municipality is on the cards, a scenario that many Regensberg residents want to avoid.

    A meadow as a turning point
    The impetus came in April 2024 at a Future Day, where the population openly discussed the fate of their municipality for the first time. On the agenda was the Pünt meadow, the last major building site in the village. This discussion gave rise to the idea of a cooperative. In July 2025, the Pünt Regensberg building cooperative was officially entered in the commercial register.

    40 apartments, 80 new people
    The project, a four-storey building with 41 apartments, is to be built on the Pünt, around three quarters of which will be large family apartments with 4.5 to 5.5 rooms, the rest smaller units with 2.5 to 3.5 rooms. The cooperative anticipates 60 to 80 new residents. For a community the size of Regensberg, this corresponds to a population increase of around 15 percent. A competition to find the project team was held back in 2025.

    More than taxes
    The goal is not just fiscal. Regensberg has the fourth-highest average age of all Zurich municipalities. Younger families should come and thus also secure the elementary school, because without a school there are no families and without families there is no village life. The flexible usage concept also allows older people to move from their single-family home to a suitable smaller apartment without having to leave the village.

    non-profit instead of speculative
    If the project had ended up in private hands, the apartments in the attractive location would have primarily been investment properties. In contrast, the cooperative lets on a cost-rent basis, i.e. without the intention of making a profit. The project is being financed via share certificates, member loans, state subsidies and bank mortgages, with a target equity ratio of 35 to 40 percent.

    the cranes will rise in 2028
    Because Regensberg is listed in the federal inventory of sites worthy of protection, particularly strict conditions apply to construction. The building permit is due to be issued in 2027, with construction scheduled to start in 2028. The first apartments could be occupied one or two years later. Whether the cooperative can solve the structural deficit on its own remains to be seen. But it proves that sometimes a village saves itself.

  • When the state becomes an accomplice

    When the state becomes an accomplice

    Two houses, around 5000 square meters, directly on the shores of Lake Aegeri in the canton of Zug. Wüest Partner estimated the value at CHF 27 million. The property was sold in 2017 for CHF 16 million, around CHF 3300 per square meter. At the same time, comparable properties changed hands for between 6,000 and 13,500 francs.

    A bargain or a crooked deal
    The owner had made provisions. Her property was part of a holding structure. 45 percent to each child, 10 percent to the granddaughter. But the brother acted behind his sister’s back. The sale was sealed in less than 100 days, without a public tender, without a bidding process, without the sister’s consent. She found out about it a month after the contract was signed and immediately filed a criminal complaint.

    When 9 million finds no explanation
    The buyer paid 16 million and received an unsecured loan of up to 25 million from Zuger Kantonalbank, a difference of 9 million. Internally, the bank valued the property significantly higher than the purchase price would suggest.
    Today, the buyer is in the dock for money laundering. He is said to have known that the sale was based on serious injustice.

    When a commission remains silent
    The case grew beyond the courtroom. In the summer of 2025, the Zug Cantonal Council set up a PUK to investigate the role of the cantonal government. The focus was on faulty land register inspections. The notary responsible pushed the matter forward without any legal grounds for recusal and evaded the crucial questions during questioning.

    When justice takes time
    Nine days of hearings until the end of March. Presided over by Judge Svea Anlauf. A verdict in June at the earliest. The presumption of innocence applies to all defendants.

    Lake Aegeri glistens. What comes to light in the courtroom during these weeks could keep the canton of Zug busy for a long time to come.

  • The digital elite: the top 10 PropTechs in Switzerland 2020-2025

    The digital elite: the top 10 PropTechs in Switzerland 2020-2025

    1. properti
    properti is one of the leading Swiss providers of digital real estate brokerage. The company combines the expertise of experienced estate agents with its own platform (Propchain®), on which properties can be listed, brokered and linked with service partners. properti covers various segments: Luxury real estate, investment properties and commercial real estate. By digitizing the brokerage process, customers can find suitable properties more quickly and brokers can work more efficiently. The startup has received several awards as Switzerland’s #1 PropTech and shows how traditional sectors can be transformed with digital technology. The business model is scalable, both nationally and internationally, and the platform serves as a central hub for all players in real estate brokerage. Under CEO Levent Künzi, the company is growing continuously and establishing itself as an innovation leader.

    2. PriceHubble
    PriceHubble uses big data and artificial intelligence to provide accurate real estate valuations and location analysis. The company processes millions of data points and creates market forecasts to help investors, brokers and banks make decisions. With offices in Zurich, Berlin, Paris and Tokyo, PriceHubble has an international presence and shows that Swiss PropTechs are globally relevant. Strategic partnerships, such as with Check24 or WealthPark, further strengthen its market position. The Fintech Germany Award 2023 in the PropTech category underlines the company’s innovative strength. The company was able to significantly expand its market presence with Series B financing of USD 34 million. PriceHubble is a prime example of how data-driven solutions are revolutionizing the real estate industry.

    3. Crowdhouse
    Crowdhouse is the leading platform for crowdinvesting in Swiss investment properties. Investors can acquire shares in properties for as little as CHF 100,000 and thus benefit from the Swiss real estate market without owning the properties directly. The platform manages over 1,600 investors and a real estate volume of CHF 2.1 billion. The recurring investor rate of 55% is particularly strong, indicating trust and stable performance. Crowdhouse digitizes and simplifies the real estate investment process considerably. It offers detailed information on properties, forecast returns and transparency in management. The startup has thus created a scalable model that benefits investors and project developers alike.

    4. Flatfox
    Flatfox digitizes the rental process for apartments and houses in Switzerland. The platform enables owners, estate agents and property managers to create listings, manage interested parties and control communication centrally. flatfox was acquired by Mobiliar in 2021, underlining its market position and relevance. Brokers can use all major Swiss real estate portals via the platform, which significantly reduces the effort involved. Flatfox thus solves a classic problem in the real estate industry: fragmented and inefficient communication between tenants, brokers and administrators. The combination of an intuitive platform and integration into existing systems makes the company successful.

    5. Houzy
    Houzy offers a comprehensive digital ecosystem for homeowners. The platform supports users with valuations, renovations, planning and networking with tradespeople and service providers. It is free for users, while partners pay for referrals. With over 100,000 registered users and 3,500-5,000 new users per month, the platform shows enormous growth potential. Investors such as UBS and Baloise underline the confidence in the business model. Houzy makes it easier for homeowners to manage complex tasks that used to be time-consuming and confusing, combining digital tools with practical services. The startup has thus established a leading position in the Swiss home ownership segment.

    6. Archilyse
    Archilyse is an ETH spin-off that automatically converts 2D floor plans into 3D BIM models and analyzes them digitally. Over 100 qualitative features such as visual axes, lighting conditions and energy consumption are evaluated. This enables architects, investors and real estate developers to objectively assess the quality of a project. With YoY ARR growth of over 250%, Archilyse demonstrates high scalability. The software solves a fundamental information problem in architecture: the objective comparison of properties. The company combines technological depth with practical application and shows how digital tools can revolutionize planning and evaluation processes.

    7. viboo
    viboo develops AI-based thermostats and intelligent building automation solutions for non-residential buildings. The aim is to minimize energy consumption without compromising comfort. Pilot projects show energy savings of up to 22% and a CO² reduction of 13 tons per school. Over 5,000 thermostats are already in use, supported by funding of €3.3 million. The company combines sound research from ETH and Empa with practical solutions for the market. viboo shows how ClimateTech and PropTech can be combined in practice. Through measurable savings and intelligent control, the start-up is establishing itself as a leading provider in Switzerland.

    8. Scandens
    Scandens is an AI-based software solution for refurbishment and investment planning for buildings. It automatically simulates over 500 renovation combinations and simultaneously optimizes profitability and CO² reduction. The start-up addresses a key Swiss problem: the low renovation rate of buildings. Through partnerships, for example with HEV Zurich, the solution is also made available to private owners. As an ETH spin-off, Scandens combines technological depth with practical relevance. The company shows how AI can make renovation planning more efficient and sustainable.

    9. vyzn
    vyzn develops web-based 3D/BIM software for sustainability analyses in new construction and renovation projects. The platform supports certifications such as Minergie or SNBS and analyzes the entire life cycle of a building from construction to use to demolition. vyzn enables planners and architects to reconcile costs, sustainability and quality. The solution has been recognized internationally, including as a semi-finalist in the EXPO REAL Impact Awards. As an ETH spin-off, vyzn demonstrates the combination of academic research and practical application. The start-up is clearly positioning itself in a growing market segment for sustainable and efficient construction planning.

    10. Immowise
    Immowise digitizes the management of condominiums and owners’ meetings. The platform supports owners and property managers with budget planning, news communication, cost estimates and meetings. It simplifies previously fragmented processes and significantly reduces administrative work. Since its foundation in 2021, Immowise has expanded from western to German-speaking Switzerland. With practical solutions and a clear focus on the Swiss real estate market, Immowise offers increased efficiency and transparency for communities of owners. The company shows how digital tools can revolutionize traditional management tasks.

  • AI as a competitive factor in the real estate industry

    AI as a competitive factor in the real estate industry

    Why the breakthrough is possible right now
    Current market analyses show a clear picture: AI has arrived in the industry. As part of an industry-wide market analysis, 55 AI solutions were examined and 24 specific use cases for the construction and real estate industry were derived. The study showed that most solutions can be found in the utilization and operation phase.

    The reason is obvious: large amounts of data are generated during operation, processes are recurring, efficiency pressure is high and sustainability targets are ambitious. This is where AI is already delivering measurable added value.

    In the planning phase, however, AI solutions have so far only been available in isolated cases. This is surprising in that there is a lot of potential for the use of AI in this phase in particular, for example in areas such as energy consumption and operating costs.

    Three areas of benefit that can make all the difference
    PLANNING & DEVELOPMENT
    Still little used, but strategically highly relevant. AI can optimize construction and resource plans or support operational processes on the construction site. In times when operational efficiency is becoming increasingly important, such tools could make all the difference.

    OPERATIONS & MANAGEMENT
    The current playing field of AI. From automated control of technical systems to optimized cleaning and waste processes and digital customer communication. Contract reviews and data management are also increasingly being supported by AI. This is already achieving a measurable boost in productivity.

    PORTFOLIO, INVESTMENT & STRATEGIC MANAGEMENT
    For owners, investors and portfolio managers, the added value lies more at the management and analysis level: data-based valuation models, portfolio analyses or the identification of CO2 savings potential enable well-founded decisions and thus strategically optimized management of real estate portfolios.

    What successful AI projects really need
    Artificial intelligence is not a sure-fire success. Three factors determine success or failure:

    • Data basis & governance: without clean, structured data, AI tools remain ineffective. Companies need to analyse their data quality, processes and IT infrastructure and optimize them if necessary.
    • Strategic anchoring: It is not the technology that should drive the use of AI, but a clear, strategic goal such as increasing efficiency, reducing costs, sustainability or portfolio optimization.
    • Realistic expectations & suitable implementation strategy: Many of the solutions identified are still at the pilot stage. A step-by-step approach, for example using low-code platforms or proven tools, can help to gain initial experience and then scale up.

    Conclusion: Shaping the future instead of waiting
    Artificial intelligence opens up many opportunities for the real estate industry: it can make processes more efficient and decisions more informed, reduce operating costs, promote sustainability and strategically manage portfolios. For organizations that consciously and strategically invest in AI today, it will become a differentiating factor across all phases of the real estate life cycle. However, the key lies not in the technology, but in a clear vision, a solid data foundation and appropriate implementation.

  • Digitalization in the real estate industry: progress with headwinds

    Digitalization in the real estate industry: progress with headwinds

    The industry’s digital maturity level has fallen slightly in 2025. This is shown by the Digital Real Estate Index 2025: on a scale of 1 to 10, the level of digitalization in the real estate industry currently stands at 4.0 points, a decline compared to the previous year (2024: 4.6 points). There are many reasons for this. Increasing complexity, insufficient data quality, cost pressure. This development affects almost all company sizes and roles, but to varying degrees.

    The digital divide is deepening
    The digital divide is particularly evident when it comes to company size. Although the decline affects all categories, small companies in particular are struggling the most with the cost and financing of digitalization. Medium-sized and large companies are able to maintain their lead to some extent.

    Changing roles
    There are major differences between the various roles. Facility management service providers and property managers were even able to slightly increase their digital maturity. The situation is different for planners, construction companies, owners and investors: Here, disillusionment is spreading with regard to digital maturity. In particular, the consistent use of Building Information Modeling (BIM) across the entire life cycle remains a major challenge. In turn, users and tenants are more critical of their digital maturity than in the previous year.

    Perceived stagnation instead of a spirit of optimism
    The industry’s perception is increasingly in line with the measured values. An increase in critical assessments could already be observed in the previous year. This trend is even more pronounced this year. The majority of respondents speak of stagnation rather than major progress.

    Technologies: Benefits recognized, limited use
    Artificial intelligence has found its place in the industry’s consciousness. In the ranking of the most useful digital technologies, Artificial Intelligence & Machine Learning occupies third place. Given the rapid development and increasing presence of AI in the form of Large Language Models (LLM), this is hardly surprising. However, actual use is lagging behind: not even a fifth of respondents are already using the technology. The situation is similar for data analytics. The industry also sees great benefits in this area and is making efforts to increase its use, but the potential has still not been exhausted. Platforms and portals remain the frontrunners among the technologies.

    Conclusion: Maturity also means reflection
    The current decline in digital maturity does not mark a step backwards, but rather a phase of classification. This is because the real estate industry has recognized that digital maturity does not come from buying tools, but from their measurable benefits. An initial digitalization push is followed by disillusionment, triggered by high integration costs, a lack of standards and inadequate data strategies. At the same time, companies’ understanding of their own level of maturity has grown.

    As a result, the view has become more critical, but also clearer. There is a growing realization that many digital initiatives fail because they are implemented as pure IT projects and too little attention is paid to organizational and human factors. Without clear governance, appropriate competencies and the consistent involvement of employees, the added value remains limited.

    A more realistic attitude opens up the opportunity to make future steps more targeted, more effective and more successful in the long term. Real progress is made when digital transformation is no longer seen as a project with an end date, but is recognized as a permanent management task.

  • “Insieme” education centers in Sursee

    “Insieme” education centers in Sursee

    The project competition was announced as an open, single-stage and anonymous procedure for general planning teams, with eight teams submitting proposals on time. The jury assessed them according to functionality, cost-effectiveness, sustainability, urban planning and architecture and awarded the contract to the “Insieme” project by Bob Gysin Partner from Zurich. The centerpiece is a new seven-storey building along the railroad line, which makes a clear contribution to urban densification and orients the campus more towards the station.

    Bright learning landscape
    In future, the new main entrances will be oriented more towards the railroad station, thus relieving the existing access through the adjacent residential area. All gymnasiums will be accessible via the newly defined entrance area, which will simplify routing and orientation. The arrangement of classrooms, group rooms, atriums and meeting zones creates a bright, flexible learning landscape that supports different forms of teaching and informal encounters in equal measure.

    Building sustainably, upgrading open spaces
    In terms of construction, “Insieme” relies on a combination of existing buildings and timber construction. With the exception of the basement, the existing building in Wing B is being dismantled and extended with a timber ribbed ceiling to create a six-storey building. The design of the open space responds to the climate heating by shading the existing staircase and enhancing it with additional planting and seating. The edge of the forest will have new recreational areas and loose tree planting, which will significantly increase the quality of the outdoor space.

    Next steps until commissioning
    In the first quarter of 2026, the jury’s comments will be reviewed and the competition project optimized if necessary. The extended facility is currently scheduled to open in 2035. Around CHF 97.4 million has been set aside in the cantonal financial planning for the expansion and partial renovation of the BBZG W in Sursee. An investment in future-proof vocational training and a strong educational location in the region.