eXp Realty Switzerland Launch to Expand European Network to 11 Countries

eXp Realty plans to enter Switzerland as part of its continued European expansion. The real estate brokerage has named Mehrdad Bonakdar as CEO of eXp Switzerland. The move would bring its European network to 11 countries.

The announcement was made on October 9, 2026. eXp Realty entered Europe through the UK in 2019. It has since expanded into nine other European countries. Luxembourg was the latest addition, with the business launching there in March 2026.

eXp Realty Switzerland expansion

Bonakdar will lead the company's entry into Switzerland.He has been based in Switzerland for 15 years and has spent more than 34 years working in international real estate. Before this, he built a property agency in Mallorca, Spain.

He started with a small boutique agency that had three people. Under his leadership, it grew into KENSINGTON Finest Properties International AG.

The business eventually expanded to more than 90 locations across five countries. Bonakdar sold the international group in 2023.

He has also worked with Engel & Völkers, leading its expansion across Dubai and the wider Middle East. His experience in building real estate businesses across different markets will be relevant to eXp Realty's plans for Switzerland.

Swiss housing market provides the backdrop

Switzerland's residential property prices continued to climb in the second quarter of 2026. Figures from the Swiss Federal Statistical Office show a 3.6% rise over the year. Looking at the past five years, prices have increased by 21.3%.

Mortgage rates, meanwhile, have come down. Swiss National Bank data cited in the announcement puts the rate for new one-year fixed mortgages at 1.47% in July 2026, down from 2.96% in July 2023. The same trend can be seen in five-year fixed mortgages. Their rates fell from 2.94% to 1.78% over those three years.

Mortgage lending saw an increase in the second quarter of 2026. New mortgage loans were up 3.8% from the previous quarter. Loans for owner-occupied homes grew even more, rising by 7.6% over the same period. These market figures offer some context for eXp Realty's planned entry. However, they do not guarantee future growth for the company or the wider property market.

The Switzerland launch would mark another step in eXp Realty's European expansion. Bonakdar is set to lead the company's efforts in the country. A confirmed launch date has not yet been announced.