Who will own Switzerland tomorrow?

Lately, the Lex Koller has been coming up more and more again.
It’s a topic that has been around for a long time – but is now gaining real momentum once again.

At its core, the question is actually quite simple:
Who is allowed to own property in Switzerland – and who is not?

What’s happening right now

The Federal Council is currently reviewing stricter regulations, particularly for foreign investors.
The objective is clear: protect the market and ease some of the pressure.

At first glance, that sounds reasonable.

But when you look a bit deeper, it’s not that simple.

An analysis by UBS shows that foreign buyers are not as dominant in the traditional residential market as many assume.
Which means: even with stricter regulations, the core issue is unlikely to be solved.

Where it really gets interesting

The potential impact lies elsewhere:

• Commercial real estate could lose attractiveness
• Real estate funds could come under pressure
• Price movements are possible in the luxury and holiday property segments

These are exactly the areas that tend to react more sensitively to change.

And this is the key point

No matter how the political decision turns out, one thing remains unchanged:

Housing in Switzerland is limited.

And stricter regulations won’t change that.
They won’t suddenly create more space or increase supply.

In simple terms:
The pressure in the market remains.

Why this matters to you

Phases like this are always a bit uncertain – but that’s exactly where opportunities often arise.

While many take a step back, situations emerge where entering the market can make more sense.
Not because everything is perfect – but because things are shifting.

And that’s usually when the best decisions are made.

Final thought

Regulations will always change, and debates will continue.

But the foundation stays the same:

Swiss land is limited.
And that’s exactly why it remains valuable in the long term.