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Market Report 2026 Five Villages District
Interesting facts about the real estate market
- Price increase for single-family homes consolidates at a high level
- Low supply quotas in almost all market segments
- Low level of new construction activity in all municipalities
THE REGION AT A GLANCE:
IGIS/LANDQUART, TRIMMIS, UNTERVAZ, ZIZERS
Popular residential area
Good purchasing power
Around 19,000 people live in the municipalities between Chur and the Bündner Herrschaft – Igis/Landquart, Trimmis, Untervaz and Zizers. The median taxable income is between CHF 45,000 and CHF 47,000, which is around 10 % higher than the cantonal average and roughly corresponds to the national average. The above-average quality of the location, including numerous shopping opportunities, a moderate tax burden and good accessibility for the mostly commuting workforce, particularly in the region and in the direction of Chur, St. Gallen and Zurich, contribute to the attractiveness of the four residential locations. Overall, the resident population has increased moderately in recent years.
High demand supports prices
Transaction prices for single-family homes have risen above average in recent years. This upward trend has flattened somewhat in recent quarters and prices have only risen slightly, except in the municipality of Trimmis. In absolute terms, however, they have reached new highs in all municipalities. The development in the condominium segment was comparable, with the exception of Untervaz, where prices rose slightly more than in the other municipalities. Since the turn of the millennium, prices for single-family homes in Trimmis have risen by 80 %, in Untervaz by 90 % and in Zizers and Igis/Landquart by over 130 %. The situation was similar for condominiums, with slightly higher increases of around 120 % in Trimmis, 125 % in Untervaz, up to 150 % in Igis/Landquart and more than 170 % in Zizers. Transaction times have fallen slightly again in recent quarters, while demand for residential property has remained high.
Residential property: transaction price development (index 1st quarter 2000 = 100); sources: Ginesta, Wüest Partner
Few single-family homes on the market
Above-average home ownership rate
The up-and-coming region in the Grisons Rhine Valley has developed into an important agglomeration center in recent years. In the smaller municipalities of Zizers, Untervaz and Trimmis, the home ownership rate is above average at well over 50 % in some cases, and even in Igis/Landquart, the third-largest municipality in the canton of Graubünden, it is above the national average at around 40 %. Residential building land for single-family homes in upmarket locations costs just under CHF 1,500 per square meter of living space in Untervaz, between CHF 1,500 and CHF 1,750 in Zizers and Trimmis, and in Igis/Landquart the spectrum ranges from CHF 1,750 to CHF 2,000 or more in very good locations.
Average sales prices per square meter of living space of CHF 10,000 or more in Zizers and Igis/Landquart and CHF 8,500 or more in Untervaz and Trimmis are achieved for single-family homes in the upmarket segment. For very luxurious properties, between CHF 11,000 and CHF 12,000 per square meter are paid in all municipalities, and even more in Igis/Landquart. An upmarket condominium in Zizers costs CHF 9,500, in Trimmis just under CHF 9,000 and in Igis/Landquart and Untervaz just over CHF 8,000 per square meter. Luxury apartments change hands in Zizers for around CHF 11,000 and in Trimmis for more than CHF 10,000 per square meter of living space, and in Igis/Landquart and Untervaz for around CHF 9,500 to CHF 10,000.
Real estate prices (bandwidths); sources: Ginesta, Wüest Partner
Continued low supply quotas
For us, the markets are intact and efficient up to a supply quota of 6-8 %. It should be noted that this criterion is met in all municipalities in the Fünf Dörfer district. The supply quotas for residential property remain at a low level. The rate for single-family homes is around 1.5 % in all villages, with the exception of Untervaz at 0.4 %. The figure for owner-occupied apartments is 3.5 % in Zizers, 2.2 % in Igis/Landquart, 2.6 % in Trimmis and 1.2 % in Untervaz. The number of building permits issued generally remains at a low level and is therefore unlikely to have any impact on supply in the Fünf Dörfer district.
Supply ratio (number of properties on offer in relation to the portfolio); sources: Ginesta, Wüest Partner
Outlook: Market consolidates at a high level
The positive market changes in recent years, with transaction prices rising sharply in some cases, particularly from 2020 to 2023, went hand in hand with the overall economic development. After the rise in transaction prices flattened out somewhat after the pandemic, it has recently been slightly steeper again than in the previous year. The reasons for this could include the significantly more attractive interest rate situation or the reallocation of profits from shares and cryptocurrencies into real estate. In addition, the low supply compared to the consistently high demand is supporting the price trend. The extent to which the abolition of the imputed rental value will have an impact can only be assessed in a few years’ time. We therefore expect market prices to rise moderately in the coming months, in line with the trend of recent quarters. Overall, the Kreis Fünf Dörfer region remains an attractive market for residential property.
Disclaimer: The information contained in this report is for general market commentary purposes only. This document may not be reproduced in whole or in part without the written permission of Ginesta Immobilien AG. Copyright Ginesta Immobilien AG 2026 Sources: Ginesta; graphics: Wüest Partner, Ginesta (data as at Q4 2025); figures: Wüest Partner, Federal Statistical Office (population
and housing stock, data as at 2024), Infopro Digital Switzerland (building permits up to quarter 2025).