Cloud Broker eXp Realty Expands Into Switzerland as Property Market Boosts Growth
Zurich, Friday, 9 October 2026.
eXp Realty has launched in Switzerland, its 11th European market, leveraging falling mortgage rates and rising property values under the leadership of industry veteran Mehrdad Bonakdar.
Strategic Expansion into Swiss Market
On 9 October 2026, eXp Realty, a subsidiary of eXp World Holdings Inc. (NASDAQ: EXPI), officially announced its plans to expand operations into Switzerland [1]. This move establishes the company’s presence in its 11th European market, continuing an expansion strategy that began with its UK launch in 2019 [1]. The cloud-based brokerage aims to leverage its agent-centric model to capture market share in Western Europe’s premium real estate sector [1]. While the announcement confirms the intention to launch, no specific date for full operational commencement was disclosed [1][alert! ‘Specific launch date not disclosed in announcement’].
Leadership and Industry Experience
To lead this expansion, eXp Realty has appointed Mehrdad Bonakdar as CEO of eXp Switzerland [1]. Bonakdar brings 34 years of international real estate experience and has been a Swiss resident for 15 years [1]. His background includes developing KENSINGTON Finest Properties International AG to over 90 locations across five countries before selling the group in 2023 [1]. Adam Day, Head of eXp UK and Europe, noted that Bonakdar has demonstrated the ability to build and scale a real estate business across multiple markets [1].
Economic Backdrop and Market Conditions
The expansion occurs amidst rising property values, with Swiss residential property prices increasing 3.6% in the year to Q2 2026 [1]. Over the last five years, prices have risen 21.3%, indicating strong long-term market strength [1]. Concurrently, the Swiss National Bank data shows mortgage rate declines between July 2023 and July 2026, with one-year fixed rates dropping from 2.96% to 1.47% [1]. This change represents a significant reduction in borrowing costs, calculated as -50.338 [1].
Operational Model and Future Outlook
eXp Realty intends to implement its cloud-based, agent-centric model in Switzerland to address challenges related to operational overhead and brand-building costs for local professionals [1]. New mortgage loans in Switzerland increased 3.8% between Q1 and Q2 2026, with a 7.6% quarterly rise in new mortgages for owner-occupied residential property [1]. This momentum within the owner-occupier market provides a positive backdrop as the company establishes its presence following its most recent prior expansion into Luxembourg in March 2026 [1].