Zurich now carries the highest housing-bubble risk of any city in the world, according to UBS's Global Real Estate Bubble Index
The bank scores Zurich at 1.69 points, up from 1.55 last year — ahead of Tokyo and Miami, with near-zero vacancy rates and an influx of international tech and AI professionals stoking demand.
Geneva is not spared: the city's score has climbed to 1.12 from 1.05, keeping it in the elevated-risk band.
Paris, London and New York, by contrast, sit near the bottom of the table.
For anyone trying to buy in either Swiss city, the gap between the most sought-after districts and everywhere else keeps widening.
The Council of States has rejected a popular initiative that would have let foreigners apply for citizenship after just five years, closing the parliamentary door on the biggest attempt in years to loosen one of Europe's strictest naturalisation regimes
The canton of Geneva is set to become the sole owner of the land beneath Stade de Genève, buying out a parcel held by federal railways CFF for CHF 15.84 million
The Swiss National Bank has kept its key interest rate at zero, sticking with a policy that has held since June 2025 even as oil-driven inflation ticks higher