eXp Realty has announced plans to enter the Swiss market, thereby expanding its presence in Europe. This expansion underscores the company's continuous growth on the continent. Mehrdad Bonakdar has been appointed CEO of eXp Switzerland, a leader with extensive experience in the real estate industry and 15 years of residency in Switzerland.
eXp Realty's European expansion began in the United Kingdom in 2019. Since then, the company has extended its operations to nine other European countries, most recently to Luxembourg in March of this year. Switzerland will be the eleventh European country where real estate agents can utilise eXp Realty's platform. Globally, eXp Realty operates in Europe, North and South America, Asia, the Middle East, Africa, and Oceania.
Stability and dynamism of the Swiss real estate market
The decision to expand comes at a time when the Swiss real estate market is demonstrating high stability and strength. Data from the Federal Statistical Office (BFS) confirms a 3.6 per cent year-on-year increase in residential property prices up to the second quarter of 2026. Over a five-year period, a price increase of 21.3 per cent was recorded.
Financing conditions have also significantly improved. According to figures from the Swiss National Bank, interest rates for new one-year fixed-rate mortgages fell from 2.96 per cent to 1.47 per cent between July 2023 and July 2026. For two-year fixed rates, the rate dropped from 2.97 per cent to 1.54 per cent, for three-year fixed rates from 2.96 per cent to 1.64 per cent, and for five-year fixed rates from 2.94 per cent to 1.78 per cent. Furthermore, the number of new mortgage loans increased by 3.8 per cent between the first and second quarter of 2026, driven by a 7.6 per cent quarter-on-quarter rise in new mortgages for owner-occupied residential properties.
Leadership and strategic direction of the expansion
The expansion into Switzerland is being led by Mehrdad Bonakdar, who possesses over 34 years of international experience in the real estate industry. Mr Bonakdar previously developed a real estate agency in Mallorca from three employees into KENSINGTON Finest Properties International AG, with over 90 locations in five countries, and sold this international group in 2023. He was also responsible for the expansion of Engel & Völkers in Dubai and the Middle East. Adam Day, Head of eXp UK and Europe, stated that Switzerland is a market that has demonstrated great stability over the long term, and the improved financing environment and current market dynamics for owner-occupied housing create a positive environment for market entry. He emphasised that Mr Bonakdar, with his experience, is capable of building and scaling real estate businesses across multiple markets.
Mehrdad Bonakdar, CEO of eXp Switzerland, sees great potential in the eXp model for real estate professionals in Switzerland. He explained that the combination of a cloud-based model, a competitive commission structure, and agent-focused technology offers the opportunity to overcome structural challenges such as operational overheads, scalability, and brand-building costs. With his 15 years of experience in Switzerland, he looks forward to leading this phase of European expansion and utilising his expertise to build the business in the region.
