On 15 April 2026, the Federal Council presented a draft bill to tighten the Federal Act on the Acquisition of Real Estate by Persons Abroad (BewG, also known as the ‘Lex Koller’). Among other things, this proposal provides for making the purchase of residential property by third-country nationals subject to authorisation, further restricting the acquisition of holiday homes by persons abroad, and prohibiting the acquisition by persons abroad of listed shares in residential property companies, real estate funds and real estate SICAVs.
In its position statement, the VAV clearly rejects the proposed measures. In particular, it warns that restrictions on the acquisition of property and property investments by persons resident abroad could send a protectionist signal and undermine the attractiveness and legal certainty of Switzerland as a business and financial centre. Furthermore, the VAV highlights the counterproductive effects they could have on the property market.
