eXp Realty is expanding into Switzerland as the agency continues to grow its European operation.
Switzerland will become the 11th European country in which eXp operates, following its launch in Luxembourg in March.
The company first entered Europe with its UK launch in 2019 and has subsequently expanded into nine other European markets.
Mehrdad Bonakdar (main picture), who has more than 34 years’ international property experience, has been appointed Chief Executive Officer of eXp Switzerland to lead the expansion.
SWISS MARKET
The move comes against a backdrop of rising Swiss property prices and falling mortgage rates.
Figures from the Swiss Federal Statistical Office show residential property prices increased by 3.6% in the year to the second quarter of 2026 and are 21.3% higher than five years ago.
Swiss National Bank data also shows the rate on new five-year fixed mortgages fell from 2.94% in July 2023 to 1.78% in July this year.
Adam Day, Head of eXp UK and Europe, says: “Switzerland represents an exciting next step in eXp Realty’s continued European expansion.
“It is a market that has demonstrated considerable long-term strength, whilst the improved financing environment and current momentum within the owner-occupier market provide a positive backdrop as we establish our presence.”
INTERNATIONAL EXPERIENCE
Bonakdar previously acquired a three-person agency in Mallorca and developed it into KENSINGTON Finest Properties International AG, which grew to more than 90 locations across five countries before he sold the international group in 2023.
He has also worked on Engel & Völkers’ expansion in Dubai and the Middle East and has lived in Switzerland for 15 years.
Bonakdar says: “Having spent much of my career building and scaling real estate businesses, I see enormous potential in what the eXp model can offer real estate professionals in Switzerland.”
He adds that eXp’s cloud-based model, commission structure and technology could help agents tackle operational costs and scalability.
