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 March 2026
March proved to be particularly eventful for the listed real estate market in the current environment. The listing of Mobiliar’s real estate fund on SIX confirmed the sector’s continued attractiveness...
Market Commentary March 2026
March proved to be particularly eventful for the listed real estate market in the current environment. The listing of Mobiliar’s real estate fund on SIX confirmed the sector’s continued attractiveness. At the same time, supply expanded significantly, with several capital increases and the successful launch of a new fund by Swiss Life. However, this dynamic unfolded in a more uncertain environment, characterized by renewed inflationary pressures. Following a strong performance since the end of 2023, the market has entered an expected consolidation phase. Since the peak in February, real estate funds have declined by approximately 6.28%, while real estate equities are down around 4.87%. Swiss Prime Site issued a new convertible bond with a 0% coupon and a high conversion price. While the transaction optimizes financing costs, it appears less attractive from an investor’s perspective, particularly in light of the previous bond redemption at peak market prices, which resulted in a loss of approximately CHF 180 million for the company. The stock has since then been correcting significantly. At the same time, selected residential real estate companies continue to stand out. Warteck Invest reported solid results and proposed a dividend increase. The main shareholder’s request for an “opting-up” to 50% underscores long-term commitment and strengthens operational stability.
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Market Commentary April 2026
This rebound of the indirect Swiss realestate market was primarily driven by the reinvestment of distributed dividends, most notably from the market-leading UBS Sima fund. In its annual results, UBS Sima once again highlighted the structural challenges associated with hotel investments...
Market Commentary April 2026
This rebound of the indirect Swiss realestate market was primarily driven by the reinvestment of distributed dividends, most notably from the market-leading UBS Sima fund. In its annual results, UBS Sima once again highlighted the structural challenges associated with hotel investments. The disposal of the Kameha Hotel at approximately 60% of its original acquisition cost resulted in a substantial realized loss. However, given prior impairments recognized in earlier periods, the impact on the most recent financial year remained contained. Nevertheless, this case underscores a broader observation: to date, no Swiss asset manager has consistently demonstrated the ability to generate sustainable returns in the hotel segment—despite ongoing investor demand for genuine diversification within real estate portfolios. The performance in April reflected these dynamics, with dividend reinvestments driving the SWIIT Index to a new all-time high. Looking ahead, elevated activity levels among asset managers are expected to persist, likely contributing to continued market volatility. Conversely, profit-taking has recently been observed among large-cap names such as PSP, Swiss Prime Site, and Mobimo. In parallel, easing geopolitical tensions—particularly in Iran—have led international investors to partially unwind safe-haven allocations. Domestically, the Swiss market environment remains fundamentally stable. However, the Federal Council’s renewed consideration of a tightening of the Lex Koller introduces an additional layer of regulatory uncertainty. This is noteworthy given that multiple empirical studies suggest such measures would have limited effectiveness in addressing housing shortages. While foreign ownership in listed real estate vehicles remains modest, the risk of unintended consequences should not be underestimated. Against this background, it seems crucial to carefully analyse the economic and social consequences of such regulatory interventions.
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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
Daniel Smith
Senior Advisor
+41 43 499 24 96
Remo Burri
Investment Analyst
+41 43 499 24 94
Debora Zgraggen
Operations Manager
+41 43 499 24 97
Leonie Eberhardt
Marketing/Event Manager
+41 43 499 24 89
Sarina Wanner
Marketing/Event Manager
+41 43 499 24 93
Elvira Bieri
Chief Sustainability Officer
+41 43 499 24 99
