Consultancy
Consultancy
We advise our clients comprehensively, evaluate opportunities and risks, and develop customized, sustainable strategies for direct and indirect real estate investments.
Always with a long-term focus, continuity, and risk awareness.
Analysis
Analysis
For over 30 years, we have been analysing the Swiss real estate market and its investment products.
In addition to quantitative aspects, qualitative factors such as management principles, cost discipline and the creation of long-term added value play a significant role.
Strategy
Strategy
We assess your real estate portfolio, evaluate and create holistic and sustainable strategies and support you through the implementation process.
We facilitate strategic partnerships and generate synergies for additional development and value enhancement potential.
Networking
Networking
Thanks to many years of experience and the network we have built up as a result, synergies and connections are created between property owners, investors, asset managers and service providers.
With this approach, we built bridges between direct and indirect property investments, private and institutional investors as well as between French- and German-speaking Switzerland for our clients.
Mandates
Mandates
We develop a suitable real estate strategy for you on a mandate basis.
The continuous personal dialogue ensures the ability to respond to changing preferences or market situations at any time. This can also take the form of participation in bodies such as investment committees, boards of directors or trustees.
Sustainability
Sustainability
Our proprietary sustainability model allows us to evaluate all listed and non-listed Swiss real estate products (stocks, funds, investment foundations) and provide institutional investors with sustainability reporting.
With the Swiss Sustainable Real Estate Index (SSREI), a standard for assessing the sustainability of the Swiss building stock was launched as well.
Market Commentary November 2024
In November, various topics were in the spotlight: fund mergers, corporate governance in real estate companies, and active portfolio management...
Market Commentary November 2024
In November, various topics were in the spotlight: fund mergers, corporate governance in real estate companies, and active portfolio management. UBS announced the anticipated consolidation of its combined fund lineup with CS. This has already led to adjustments in the premiums of the future merged products. The fund management of MV Immoxtra has decided to request an extraordinary general meeting (EGM) at Novavest. As a long-term investor, the fund has been concerned for some time about the loss of confidence in the company, reflected in its weak stock performance and significant discount. Novavest's corporate governance does not meet the standards expected of a publicly listed company. The board seems unaware of these issues. To address this, the fund management is proposing two independent and experienced professionals, Cyrill Schneuwly and Ueli Kehl, for election to the board. Their expertise is expected to strengthen the board and facilitate the transition from the current external management model to an internal asset management structure. Good corporate governance requires an independent board, the avoidance of conflicts of interest, effective oversight of operational activities, and risk-conscious, active asset management. With a portfolio exceeding CHF 1 billion, the time has come for Novavest to establish a robust organizational structure. The fund management of MV Immoxtra urges all shareholders to actively support this change. Half-year results often bring little excitement for funds. However, Edmond de Rothschild has demonstrated a focused approach: through active management strategies and selective transactions, value is being created for investors. The proceeds from asset sales are funding new projects, and part of the profits is expected to be distributed in the next annual payout—a benefit for current investors. This example serves as a model for how active management can benefit all stakeholders
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Market Commentary December 2024
The Swiss real estate market ends the year with an euphoric performance. Recall that in early January, 25% of funds were still trading at a discount, and the average dividend yield was 3%. ...
Market Commentary December 2024
The Swiss real estate market ends the year with an euphoric performance. Recall that in early January, 25% of funds were still trading at a discount, and the average dividend yield was 3%. The Swiss National Bank (SNB) played a significant role in this exceptional development, particularly through its swift adjustments to monetary policy. Global uncertainties—such as geopolitical tensions and armed conflicts, political upheavals like Donald Trump's election or the rise of extremist parties in Europe that threaten EU cohesion, persistent economic challenges with rising global debt, and climatic and ecological issues—continue to drive investors toward safe-haven assets. Among these, gold, the Swiss franc, and particularly the Swiss real estate market have been top choices. A decade ago, the SNB introduced negative interest rates. Yet, as with any ten-year period, numerous events have influenced investors and market prices. Unlike all global real estate indices, Swiss indices ended the year at record highs, last seen in 2021. While forecasts for positive performance in real estate investments in 2025 are promising, caution remains advised. Trust in management is essential: which management teams will distinguish themselves in 2025? To explore these topics further, don't miss the IMMO25 real estate fair on January 15 and 16 in Zurich (swisspropertyfair.ch). The theme of the event is: 'Growth Through Creativity.' The start of 2025 will also mark the complete disappearance of the Credit Suisse name from all Swiss real estate funds. Regarding Novavest, an extraordinary general meeting is scheduled for Friday, January 17. Ethos has issued a voting recommendation to its clients, supporting the proposal to revise the organization's structure and enhance the governance of the "Novavest constellation."
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Market Commentary January 2025
The new year began as the old one ended: euphorically. IMMO25 recorded a record number of visitors, confirming the strong interest in Swiss real estate investments...
Market Commentary January 2025
The new year began as the old one ended: euphorically. IMMO25 recorded a record number of visitors, confirming the strong interest in Swiss real estate investments. Many investors are hoping for further interest rate cuts by the SNB. As a result, real estate indices quickly rose by more than 3%. At the same time, asset managers aggressively announced several capital increases. However, investors are becoming more cautious with premiums exceeding 50%. The year 2022 is still fresh in everyone's memory, marked by a significant loss of confidence that led to a 15% market correction. Despite a strong start to the year, the SWIIT Index closed January down 1.4%. The high capital demand could exceed investor appetite, similar to 2018. Additionally, the annual results of funds closed in September were disappointing: while rental defaults continue to decline, growth potential is shrinking. This makes innovation among asset managers crucial. Moreover, indirect real estate investments continue to suffer from redemptions. The annual results of real estate stocks are particularly important for identifying the most active companies and promising sectors. A first market shake-up is expected at the end of February with the merger of Ina Invest and Cham Group, whose valuations are expected to be positive according to recent reports.
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Our team for your goals.
Expertise, passion, and anticipation lay the foundation for us to fully focus on your needs
Roland Vögele
CEO
+41 43 499 24 90
Sacha Deutsch
Senior Advisor
+41 43 499 24 91
Ulrich Kaluscha
Senior Advisor
+41 43 499 24 96
Raphael Schuler
Client Relations Manager
+41 43 499 24 92
Remo Burri
Investment Analyst
+41 43 499 24 94
Leonie Eberhardt
Event/Marketing Manager
+41 43 499 24 89
Debora Zgraggen
Event/Marketing Manager
+41 43 499 24 97
Elodie Gadola
Event/Marketing Manager
+41 43 499 24 93
Elvira Bieri
Chief Sustainability Officer
CEO SSREI AG
+41 43 499 24 99
