A stricter Lex Koller: where the reform stands after the consultation

Updated October 2026 · by Dr Pier Paolo Gori

The consultation on the revision of the Federal Act on the Acquisition of Real Estate by Persons Abroad (Lex Koller) closed on 15 July 2026. On 27 July 2026 the Federal Office of Justice published the responses received. The next expected step is the Federal Council's dispatch to Parliament; no date of entry into force has been set.

What the Federal Council proposes

• Main residence: nationals of non-EU/EFTA states would need authorisation; if they move away, they would have to resell within two years.

• Holiday homes: lower cantonal quotas, with every purchase by a person abroad counted against the quota.

• Commercial property: free acquisition only for own business use, no longer for letting.

• Indirect investments: a general ban on buying listed shares of residential property companies and units of real estate funds.

Who is affected

Foreign buyers, companies with foreign shareholders and real estate investors. The current rules apply until the reform enters into force.

More: “Buying a home in Lugano as a foreigner”.

Sources: Federal Office of Justice – Lex Koller revision · Federal Council, 15.4.2026 – tighter rules on property purchases