Society and real estate market participants were confronted with an unprecedented crisis in 2020. During the initial COVID-19 lockdowns, this caused uncertainty among investors. It was not possible to foresee what impact the pandemic would have on real estate prices in the short term. As a result, smaller transactions in particular were cancelled or postponed, while larger transactions by and large continued to be carried out, against all odds. By summer, real estate had once again proved itself to be a stable asset class. The transaction market gained steam due in no small part to large-volume deals, such as the sale of the Glattzentrum. Overall, the transaction volume in 2020 exceeded the volume of the previous year. On the seller side were an increasing number of companies that wanted to profit from high prices for real estate investments and faced pressure from institutional real estate investors – or which were seeking to divest properties to focus on their core business.
"There was sharp variation at all levels of the residential market in the greater Zurich area, both in terms of location and home requirements. The owner-occupied market is booming, while the rental market appears to have stalled somewhat."
Annica Anna Pohl
Head of Marketing
"Investors are increasingly investing in real estate rather than in bonds with negative yields. This is driving the real estate investment market more than developments in the property markets – even though there are few top properties still available."
Patricia Reichelt
Head of Research & Market Analysis