The real estate market in Vaud continues to evolve in a generally favorable environment, though one that is more challenging than before. There is buyer interest, financing terms remain attractive, and the population continues to grow. However, these factors do not mean that all properties sell quickly or at any price.
Here are three important developments to keep in mind for homeowners in St-Cergue, the Nyon district, and La Côte.
1. The SNB is keeping its key interest rate at 0%
On September 24, 2026, the Swiss National Bank kept its key interest rate at 0%. This monetary policy continues to support relatively favorable financing conditions for people looking to buy a home.
However, the mortgage rates offered to individuals do not depend solely on the SNB’s policy rate. Fixed rates are also influenced by developments in the financial markets, the chosen term, the available equity, and the quality of the buyer’s credit profile.
What are the implications for the real estate market?
Financing remains more accessible than it was during periods of high interest rates. This helps to support demand, particularly for family homes and well-located properties.
Buyers remain cautious, however. They carefully calculate their expenses, compare different mortgage offers, and factor any necessary renovations into their budget.
For a seller, the argument of favorable rates can therefore make it easier for a buyer to decide to purchase, but it does not make up for a selling price that is significantly higher than the market rate.
2. A 12% reduction in cantonal taxes starting in 2027
On September 27, 2026, the residents of Vaud voted 53.1% in favor of the “Tax Cuts for Everyone” initiative. The initiative calls for a 12% reduction in the cantonal income and wealth tax for individuals, with implementation scheduled to begin in the 2027 tax year.
It is important to note that this is a reduction in cantonal tax, not a 12% reduction in the total tax bill, which includes, among other things, municipal tax and direct federal tax.
What impact might this have on the real estate market?
This reduction could increase the disposable income of some households and, to some extent, enhance the tax attractiveness of the canton of Vaud.
It could also provide a little more flexibility for households considering purchasing or moving to a new home. Its actual impact, however, will depend on each taxpayer’s tax situation, income, and assets.
This decision is therefore a positive sign, but it should not be presented as a guarantee that real estate prices will rise.
3. The Nyon district continues to experience population growth
The latest demographic projections from Statistique Vaud confirm that the canton’s population will continue to grow. The canton is expected to surpass one million residents around 2046.
In the Nyon district, the expected population growth would amount to nearly 16,000 additional residents by 2045, according to the selected demographic scenario.
This trend is expected to continue to drive demand for housing in La Côte and the surrounding municipalities. However, it will not affect all types of properties in the same way.
What kinds of housing will be in demand in the future?
Demand is expected to focus in particular on the following properties:
- well connected to public transportation and major employment areas;
- comfortable and suitable for working from home;
- energy-efficient;
- with outdoor spaces;
- close to services and shops;
- capable of meeting the needs of different life stages.
In St-Cergue, the tranquility, natural surroundings, spacious homes, and rail connection to Nyon are major advantages. However, buyers also take into account the elevation, commute time, accessibility, and energy costs.
A promising market, but one that is becoming increasingly selective
Relatively favorable interest rates, changes in tax policy, and population growth are supporting the medium- and long-term outlook for the Vaud real estate market.
However, these general factors alone are not sufficient to determine the value of an apartment, a house, or a piece of land.
The price that buyers are actually willing to pay depends, in particular, on:
- the exact location;
- the condition of the property;
- its energy efficiency;
- work that has been completed or is planned;
- the quality of the photographs and the presentation;
- competing items available at the time of sale;
- of the total price, including parking spaces.
A property can therefore be located in a sought-after area and still attract little interest if its price or condition does not meet market expectations.
Are you thinking about selling in St-Cergue or on La Côte?
An effective sales strategy begins with a realistic and well-documented estimate. It must combine market data, industry knowledge, and an analysis of the property’s specific characteristics.
With over twenty years of experience in the region, Stünkel Immobilier assists homeowners with the appraisal, preparation, and marketing of their apartments, villas, or land.
Would you like to know the current value of your property or are you considering putting it on the market in the future? Contact us for an initial confidential, no-obligation consultation.
Stünkel Immobilier Sàrl
📞 022 360 18 00
✉️ info@stunkel-immo.ch
🌐 www.stunkel-immo.ch
Sources
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Swiss National Bank: Monetary Policy Decision and Official Rates as of September 24, 2026
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Canton of Vaud: Results of the cantonal referendum held on September 27, 2026
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Vaud Statistics: Demographic Outlook for 2025–2055
