Published on and written by Cyril Jarnias
Located just minutes from downtown Bern, the municipality of Zollikofen quietly stands out as one of the most interesting real estate markets in the Bern agglomeration. A full-fledged city statistically – it has over 11,000 inhabitants – yet still very much “village-like” in spirit, it combines several rare advantages in Switzerland: immediate proximity to the federal capital, excellent public transport links, competitive taxation, strong demographic growth, and a rental vacancy rate below 1%. For an investor, this means a structurally tight market where demand consistently exceeds supply.
This article analyzes the Zollikofen (Bern-Mittelland) real estate market with the most recent data. It details the reasons to invest, expected yields, positioning relative to the canton of Bern and the Swiss market, as well as the risks to anticipate.
Zollikofen: A dynamic small town in Bern’s shadow
Zollikofen is a municipality of 5.39 km² located at 557 meters above sea level, north of Bern. It is part of the Bern-Mittelland district and is considered by the Federal Statistical Office as an “urban working municipality,” meaning an employment hub integrated into the greater Bern agglomeration.
This is the population growth over three years, between 2020 and 2023, a jump well above forecasts.
The socio-demographic profile is favorable for a strong residential market. The average income is around 74,360 CHF, the unemployment rate is around 1%, over one-fifth of the population holds a university degree, and about 18% have completed higher vocational training. In other words: a relatively affluent, qualified population, likely to support high rents and sale prices.
Zollikofen is also a significant workplace: about 9,200 jobs are recorded, resulting in a very high job-to-resident ratio. Again, a good sign for real estate: the municipality is not just a dormitory town; it concentrates jobs and therefore attracts commuters.
A tight market: strong demand, minimal vacancy
The first thing that strikes you when looking at Zollikofen’s housing figures is how tight the market is. The municipality has 5,760 housing units, covering the full spectrum of sizes: studios, small apartments, family homes, and large apartments.
The structure of the housing stock can be summarized as follows:
| Housing Type | Number of units |
|---|---|
| 1 room | 231 |
| 2 rooms | 842 |
| 3 rooms | 1,830 |
| 4 rooms | 1,792 |
| 5 rooms | 753 |
| 6+ rooms | 312 |
| Total | 5,760 |
Of this stock, the overall vacancy rate is only 0.94%, even below the Swiss average (approximately 1–1.15%). In practice, this means that virtually all housing units are occupied. The breakdown by size is even more telling:
| Apartment Size | Vacancy Rate |
|---|---|
| 1 room | 0.00% |
| 2 rooms | 0.83% |
| 3 rooms | 0.98% |
| 4 rooms | 1.12% |
| 5 rooms | 0.93% |
| > 5 rooms | 0.85% |
For an investor, such a low vacancy level is a powerful indicator: the risk of leaving an apartment empty for several months is low, especially if the property is well-located (close to the train station, schools, or shops) and in good condition. However, it must be read in light of another fact: demand clearly exceeds national construction capacity. At the Swiss level, an estimated 10,000 to 15,000 housing units are lacking each year relative to needs, and over 520,000 additional units would be needed by 2040 to absorb population growth.
The municipality of Zollikofen has experienced faster growth in its housing stock than the average. In five years, 586 new housing units were built, representing an increase of about 10%. This diversification of supply illustrates the intent to meet demand across all market segments.
| New Housing (5 years) | Number of units |
|---|---|
| 1 room | 40 |
| 2 rooms | 164 |
| 3 rooms | 171 |
| 4 rooms | 184 |
| 5 rooms | 22 |
| 6+ rooms | 5 |
| Total | 586 |
Despite this constructive dynamism, the vacancy rate remains below 1%, which shows that each new delivery is almost immediately absorbed by the market. From an investor’s perspective, this is a strong sign of demand sustainability.
Purchase prices: midway between Bern and major Swiss cities
Available data on Zollikofen shows a market in full motion, with variations depending on the type of property. In 2025, an average of 6,647 CHF/m² was suggested, but more recent sources for late 2025 and early 2026 give higher values, around 8,100 to 8,200 CHF/m². A survey from December 2025 placed the average price at 8,176 CHF/m² for all properties, with a slight differential between apartments and houses:
| Period / Type | Avg. Price per m² (CHF) |
|---|---|
| Dec. 2025 – all properties | 8,176 |
| Dec. 2025 – apartments | 8,500 |
| Dec. 2025 – houses | 7,852 |
| Feb. 2026 – all properties | 8,104 |
| Feb. 2026 – apartments | 8,263 |
| Feb. 2026 – houses | 7,946 |
Other sources mention an average of about 7,932 CHF/m² with 8,870 CHF/m² for apartments and 7,043 CHF/m² for houses, which shows that figures must always be read cautiously depending on the methodology and exact scope (municipality vs. postal code, transaction type, etc.). But the trend is clear: Zollikofen is significantly below Zurich prices (around 14,000 CHF/m²) and the most expensive Geneva neighborhoods, but in the upper range of the Bern agglomeration where downtown Bern shows an average of 8,540 to 11,960 CHF/m² depending on the neighborhood.
Zollikofen’s price positioning is consistent and advantageous. The municipality benefits from its immediate proximity to Bern while displaying slightly lower prices than the city center. This strategy attracts both households looking for a bit more space and investors seeking a more favorable price/quality ratio.
Strong price increase for houses, recent correction for apartments
Price evolution varies by property category. Data over 12 months shows:
– for all properties in Zollikofen, an average increase of about 9–10% in price per m²;
– for apartments, a slight decrease over 12 months (approx. –6 to –9% depending on the source), after years of increase;
– for houses, an impressive surge, with +30 to +38% over one year.
In summary, the market was long driven by apartments, as in the rest of Switzerland, then single-family or row houses saw marked catch-up growth, fueled by land scarcity, the desire for more space, and the increased attractiveness of suburban municipalities.
For an investor, real estate presents two aspects: houses, having become more expensive, offer more limited short-term upside potential, while the slight correction in apartments can create buying opportunities at more reasonable prices, supported by strong fundamentals (growing population, low vacancy, densification projects).
Significant gaps between large and small units
Price statistics by size are also instructive. For houses, we observe a rise in price per m² up to 6–6.5 rooms, then a decrease beyond that:
| Houses – number of rooms | Avg. Price per m² (CHF) |
|---|---|
| 3–3.5 rooms | 5,971 |
| 4–4.5 rooms | 7,460 |
| 5–5.5 rooms | 8,184 |
| 6–6.5 rooms | 8,927 |
| > 7 rooms | 6,475 |
Thus, large properties with over 7 rooms sell for less per m², likely because the total price tag is high and demand is less broad. For apartments, the hierarchy is slightly different:
| Apartments – rooms | Avg. Price per m² (CHF) |
|---|---|
| 2–2.5 rooms | 8,687 |
| 3–3.5 rooms | 9,604 |
| 4–4.5 rooms | 8,529 |
| 5–5.5 rooms | 6,779 |
3–3.5 room apartments are the most expensive per m², reflecting very strong demand for this segment, typically from young couples, small households, and buy-to-let investors. Conversely, large 5+ room apartments trade at a significantly lower price per m², which may interest families looking for more generous space or investors targeting shared apartments or long-term rentals for civil servants.
A solid rental market, supported by demographics and scarcity
From a landlord investor’s perspective, Zollikofen’s rental market offers several encouraging signals. Currently, about fifty apartments are listed for rent (56 listings for postal code 3052). This volume is modest relative to a stock of over 5,700 housing units, confirming the relative shortage.
The median rent is around 2,743 CHF per month for currently available properties, with a fairly wide dispersion: 80% of offers are between 1,451 CHF and 5,113 CHF. Data also mentions an “average” rent around 1,600 CHF, with a 25th percentile at 1,395 CHF and a 75th percentile at 1,980 CHF. These figures clearly do not refer to the same samples (property types, sizes), but they show that:
– an entry-level segment remains accessible around 1,400–1,600 CHF/month;
– more spacious or newer properties easily exceed 2,500–3,000 CHF/month.
The median price per square meter for rentals, characteristic of a tight market close to a major city.
Compared to the Swiss average, where the gross rental yield is about 2.9–3%, and the canton of Bern average estimated around 2.98%, Zollikofen is likely in this same range, with variations by segment. In the city of Bern, for example, calculations show:
| Apartment Type (Canton of Bern) | Avg. Purchase Price (EUR) | Monthly Rent (EUR) | Approx. Gross Yield |
|---|---|---|---|
| 1 bedroom | 524,300 | 1,500 | 3.43% |
| 2 bedrooms | 757,000 | 1,770 | 2.81% |
| 3 bedrooms | 845,300 | 1,980 | 2.81% |
| 4+ bedrooms | 1,048,600 | 2,500 | 2.86% |
It is reasonable to consider that Zollikofen offers comparable yields, even slightly higher on some well-negotiated properties, while remaining in the Swiss DNA: moderate gross yields, but great stability, limited vacancy risk, and potential long-term capital appreciation.
Major projects strengthening attractiveness
If Zollikofen attracts so much, it’s no coincidence. Several major projects reinforce its centrality in the Bern-Mittelland area, and thus its ability to support real estate values.
The “Im Klee” neighborhood in Oberzollikofen: 175 apartments and 1,350 m² of commercial space
Next to Oberzollikofen train station, a new mixed-use neighborhood, named “Im Klee”, is under development. Just about ten minutes by train from Bern, it will offer:
– 175 apartments ranging from 1.5 to 5.5 rooms, all for rent;
– 1,350 m² of commercial space on the ground floor;
– shared coworking spaces;
– a daycare, a café, a large outdoor area with a play meadow and playground;
– barrier-free design (accessible to all) and operation with no direct CO₂ emissions.
Energy will be largely produced on-site, thanks to photovoltaic installations on roofs and facades. The four buildings, ranging from 4 to 9 stories, each feature distinct architecture and materials. The project results from a competition won by a Bern-based firm and is subject to a partial zoning plan coordinated with the municipality and several neighboring major landowners.
For an investor, a rental development project in a well-connected area like Zollikofen plays a key role: it densifies the zone, creates a new hub of activity, increases traffic to infrastructure (like the train station), and consolidates the locality as a residential and tertiary node. In the medium term, this anchors and helps pull surrounding real estate values upward.
The federal “Meielen” campus: over 2,000 jobs
Another major driver: the administrative campus being developed by the Confederation on the “Meielen” site. The project, led by the Federal Office for Buildings and Logistics, plans for four buildings housing IT services and directorates of the Federal Department of Foreign Affairs.
The total number of jobs planned in the second and third phases of the exemplary environmental federal buildings project.
Beyond the ecological showcase, this campus primarily means that Zollikofen will durably host several thousand federal employees, strongly stabilizing demand for nearby housing and creating a base of solvent tenants, often seeking quality, well-connected housing within a few bus or train stops.
Other residential developments: Lättere, Schäferei, Paradiso…
For several years, the municipality has pursued an internal densification strategy, validated by the population during the revision of the land-use plan in 2017. Several substantial residential projects dot the territory: Lättere, Schäferei, Paradiso, Lüftere, Bärenareal, Wahlacker‑Ost, etc. Between 2022 and 2030, these developments should deliver a total of about 656 additional new housing units.
The LÄTTERE neighborhood, for example, is described as a highly sought-after area, combining proximity to the city with a village character, with views of the Alps and direct access to recreational areas (Aare River, forests, Rütti). For a private investor, positioning in this type of micro-neighborhood can offer a good compromise between long-term appreciation and ease of re-letting.
Quality of life and infrastructure: a solid foundation of value
A real estate investment is not just an Excel spreadsheet return. In the long term, it is quality of life and infrastructure that sustain prices. From this point of view, Zollikofen checks several important boxes.
The municipality has excellent public transport links, with fast connections to Bern (by train, bus, and commuter rail), bringing it closer to the logic of highly prized “belt” municipalities around Zurich or Geneva. Immediate proximity to the city center, combined with a greener, quieter setting, has become a key criterion for many households, especially since the rise of hybrid work.
On-site, residents find:
The municipality of Zollikofen offers an ideal living environment, combining daily amenities, comprehensive education, varied leisure activities, and preserved nature.
A complete range of retail for daily needs (Migros, Coop, Denner, Aldi, numerous retail shops) within a few minutes’ walk.
Schools at all levels, from kindergarten to secondary school, as well as the University of Applied Sciences in the agricultural domain.
A diverse leisure offering in sports and culture for all ages and tastes.
Vast recreational spaces along the Aare River, in the forest, or on the Rütti plateau.
Zollikofen also holds the “Energiestadt” label, reflecting a proactive commitment to local energy policy. For investors interested in ESG issues and high energy-performance properties, this orientation is important: labeled municipalities tend to encourage energy renovations, soft mobility, and efficient heating networks, all factors that can enhance neighborhood attractiveness and limit long-term operating costs.
Taxation, financing, and legal framework: what you need to know
Investing in Zollikofen means investing within the fiscal and regulatory framework of the canton of Bern and Switzerland at large. A few elements are particularly relevant.
Fairly competitive taxation at the cantonal level
Zollikofen is often cited as a municipality with advantageous taxation in the canton of Bern. The base municipal rate (multiplier) was 1.4 in 2018, with specific rates for religious communities (0.21% Catholic, 0.18% Protestant). A calculation example shows that a married couple with two children and 100,000 CHF income could, in a given scenario, have a very low or even zero municipal tax burden.
Acquiring a property in the canton of Bern incurs transfer duties (1.8%), notary and land registry fees (~0.5%). Resale is subject to a progressive capital gains tax based on holding period: quick resales are heavily taxed, while long holdings (>10 years) benefit from reduced rates, potentially below 10% of the gain.
Conversely, owners can deduct certain maintenance costs, mortgage interest (within certain limits), and investments improving energy efficiency (solar panels, insulation, heat pumps…) from their taxable income, spread over several years.
Financing conditions: Swiss DNA
Financing conditions in Zollikofen are those of Switzerland as a whole. Banks generally require a down payment of 20% of the purchase price for a primary residence and more (25% and above) for an investment property. At least 10% of this down payment must come from equity excluding the 2nd pillar pension. The affordability test includes a theoretical interest rate of about 4.5–5%, amortization, and charges, and must not represent more than 30–40% of the household’s gross income.
Classic mortgage products are available: fixed-rate mortgages, variable-rate, and SARON (Swiss money market rate). The gradual decline in Swiss National Bank policy rates to 0% has revived the appeal of longer terms, but lenders remain cautious, especially for purely investment properties or foreign buyers.
Foreign buyers: Lex Koller and local realities
For non-resident or non-Swiss investors, it must be recalled that Switzerland applies the so-called Lex Koller law, which strictly regulates foreigners’ access to residential property. Concretely:
In Switzerland, the right to purchase real estate varies by nationality and type of residence permit. Swiss citizens and holders of a C permit can buy freely, including investment properties. EU/EFTA nationals with a B permit can acquire a primary residence but not a purely investment property. Non-residents and most non-EU citizens without a C permit generally cannot purchase investment housing in a municipality like Zollikofen, as it is not a tourist area authorized for vacation homes.
However, the acquisition of commercial properties (office spaces, operational retail space) is in principle possible without restriction, even for foreigners residing abroad, provided the property is not intended for housing.
For a foreign investor interested in Zollikofen, it is therefore crucial to first obtain resident status (B or C permit), or to focus on clearly commercial properties. Without this, the scope of possibilities is very limited.
How to position your investment strategy in Zollikofen?
Once this framework is established, the central question remains: what to invest in Zollikofen, and for what time horizon?
3–4 room apartment near the train station: the core market
Given the data, 3–3.5 room apartments are those that sell for the highest price per m² and concentrate strong rental demand. They appeal to young professionals, small households, couples working in Bern or at the federal campus. Close to Zollikofen or Oberzollikofen stations, they combine accessibility and attractiveness.
For an investor, this segment offers:
– an entry ticket still lower than downtown Bern, but not cheap;
– gross yields likely around 2.8–3.2%, depending on the property quality and rent level;
– a low vacancy risk, given current figures and demographic fundamentals.
A well-located 4–4.5 room apartment can also be interesting, particularly to target families seeking an alternative to Bern city, but the price per m² is a bit lower, which may slightly improve the yield.
Single-family or row house: potential capital gain, modest current yield
House prices have risen sharply in the last 12 months in Zollikofen, with increases exceeding 30% in some segments. Buying a 5–6 room house in the heart of the municipality today therefore means positioning after a strong catch-up. The potential for short-term capital appreciation is more uncertain, although, in the long term, the combination of land scarcity, a growing population, and good accessibility should continue to support prices.
The gross rental yield of a house is generally lower than that of an apartment, due to its higher purchase price, greater maintenance costs, and a less deep rental market. This investment is therefore more oriented towards long-term patrimonial capital gain than immediate cash flow generation.
New development and quality condominiums: aiming for sustainability and future demand
New developments like Lättere or Wahlackerstrasse (with 11 condominiums of 2.5 to 4.5 rooms, high-end finishes, and views of the Alps) meet a growing demand for modern housing, energy-efficient, well-insulated, and well-located. These properties sell for a high price but attract:
– demanding, often solvent owner-occupiers;
– tenants willing to pay a premium rent for building quality and energy sobriety.
In the long term, this type of property could benefit from market premiums due to tightening environmental requirements and rising heating costs for poorly insulated buildings. However, the initial gross yield is often the lowest of all segments, requiring a long holding horizon and a strategy focused on patrimonial appreciation rather than income.
Long-term rental in an existing building: the classic Swiss balance
Given the stability of the Swiss market, low vacancy, and moderate yields, the most “Swiss” strategy remains purchasing an apartment in an existing building, at a realistic price, for long-term rental to solvent households. In Zollikofen, this implies:
– targeting a well-connected property close to amenities;
– checking the building’s technical condition and budgeting for maintenance;
– positioning the rent within the market range to avoid disputes, in a country where tenancy law strongly protects tenants.
This strategy will not offer spectacular yields, but it capitalizes on robust fundamentals: rising population, low vacancy, high quality of life, stable institutions, and a strong currency.
Comparison with Bern and the rest of Switzerland: why Zollikofen stands out
To assess Zollikofen’s appeal, it must be compared to its surroundings. At the national level, Switzerland is experiencing a moderate but continuous rise in residential prices, on the order of 3–4% per year, with forecasts of 2–3% for 2026–2027. Major cities like Zurich or Geneva remain much more expensive and offer lower gross yields (around 2–2.5% in premium neighborhoods).
Rental yields in Bern range between 2.7% and 4.5%, depending on the property type and location.
– the movement of households leaving the city for suburban municipalities better suited to teleworking;
– the growth of the federal campus and other tertiary jobs;
– a recently densified housing stock, offering a more modern supply than in some historic neighborhoods of Bern.
In the long term, a municipality like Zollikofen, well-connected, attractive to families, fiscally stable, and with densification reserves, has a good chance of outperforming more peripheral, less connected, or demographically declining municipalities.
Risks and points of caution for investors
Investing in Zollikofen does not mean an absence of risks. A few elements must be monitored.
The first is financial affordability. Prices have already risen significantly in Switzerland over the last twenty years, more than doubling nationally, and Zollikofen is no exception to this trend. If interest rates were to rise or if Swiss economic growth slowed more sharply, households’ ability to pay ever-higher prices could hit a ceiling, leading to phases of stagnation or even correction of 5–15%, as some cautious scenarios envision.
The rental market shows a strong concentration of demand on 3 to 3.5 room apartments close to public transport, which currently constitute the safe bet. However, this saturation could limit future rent increases in this segment. Conversely, large units and atypical properties risk facing weaker demand.
Finally, for foreign investors, the main risk is legal and administrative: misunderstanding Lex Koller restrictions, underestimating the timelines and requirements of Swiss banks (strict affordability tests, high equity requirements), or ignoring cantonal tax specifics can turn an attractive-looking investment into a costly headache.
Conclusion: Zollikofen, a solid market for patient investors
Zollikofen is not a destination for quick speculation. Transfer duties, taxation on short-term real estate gains, strict rental market regulation, and moderate yields immediately discourage opportunistic strategies. On the other hand, for an investor seeking:
– a tangible asset in a strong currency;
– a municipality with demographic growth, well-connected and developing;
– a tight rental market with very low vacancy risk;
– appreciation driven by structuring projects (federal campus, new sustainable neighborhoods);
investing in real estate in Zollikofen can be a particularly relevant choice.
To invest in residential real estate in Switzerland, prioritize liquid assets like well-located medium-sized apartments. Accept modest gross yields, compensated by exceptional market stability. Systematically integrate taxation into your long-term profitability calculations and anticipate regulatory changes, such as the ongoing reform of the rental value tax.
In a country where real estate is above all a game of patience and resilience, Zollikofen offers a discreet yet solid playing field, a stone’s throw from the federal capital, for those who prioritize consistency and quality of life over flashy gains.
Disclaimer: The information provided on this website is for informational purposes only and does not constitute financial, legal, or professional advice. We encourage you to consult qualified experts before making any investment, real estate, or expatriation decisions. Although we strive to maintain up-to-date and accurate information, we do not guarantee the completeness, accuracy, or timeliness of the proposed content. As investment and expatriation involve risks, we disclaim any liability for potential losses or damages arising from the use of this site. Your use of this site confirms your acceptance of these terms and your understanding of the associated risks.
Cyril Jarnias is an independent expert in international wealth management with over 20 years of experience. As an expatriate himself, he is dedicated to helping individuals and business leaders build, protect, and pass on their wealth with complete peace of mind.
On his website, cyriljarnias.com, he shares his expertise on international real estate, offshore company formation, and expatriation.
Thanks to his expertise, he offers sound advice to optimize his clients' wealth management. Cyril Jarnias is also recognized for his appearances in many prestigious media outlets such as BFM Business, les Français de l’étranger, Le Figaro, Les Echos, and Mieux vivre votre argent, where he shares his knowledge and know-how in wealth management.
