{"id":10278,"date":"2026-06-02T08:55:48","date_gmt":"2026-06-02T08:55:48","guid":{"rendered":"https:\/\/alphaprop.ch\/?p=10278"},"modified":"2026-06-05T16:15:07","modified_gmt":"2026-06-05T16:15:07","slug":"les-placements-immobiliers-indirects-suisses-en-juin-2026","status":"publish","type":"post","link":"https:\/\/alphaprop.ch\/fr\/les-placements-immobiliers-indirects-suisses-en-juin-2026\/","title":{"rendered":"Les placements immobiliers indirects suisses en juin 2026"},"content":{"rendered":"\n<div class=\"wp-block-group has-background is-layout-constrained wp-container-core-group-is-layout-26a738c0 wp-block-group-is-layout-constrained\" style=\"border-radius:24px;background-color:#ecf0f3;padding-top:24px;padding-right:24px;padding-bottom:24px;padding-left:24px\">\n<h2 class=\"wp-block-heading\">R\u00e9sum\u00e9<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Performance solide :<\/strong> sur 12 mois, les fonds immobiliers cot\u00e9s sont \u00e0 7,77 %, les actions immobili\u00e8res \u00e0 12,67 % et l&rsquo;indice KGAST (VNI) \u00e0 5,06 % &#8211; tous les indices YTD positifs.<\/li>\n\n\n\n<li><strong>Rendements des investissements :<\/strong> 5,1 % en moyenne (57 produits, 62 milliards de CHF), les produits r\u00e9sidentiels b\u00e9n\u00e9ficiant fortement des gains de valorisation et les produits commerciaux d&rsquo;un rendement op\u00e9rationnel plus \u00e9lev\u00e9.<\/li>\n\n\n\n<li><strong>Record de lev\u00e9es de fonds : <\/strong>3,7 milliards de CHF d&rsquo;augmentations de capital annonc\u00e9es ou finalis\u00e9es pour 2026 &#8211; nouveau record \u00e0 cette date.<\/li>\n\n\n\n<li><strong>Des risques politiques croissants :<\/strong> L&rsquo;initiative zurichoise sur la protection du logement (14 juin) et la menace d&rsquo;un durcissement de la Lex Koller signalent que les obstacles r\u00e9glementaires aux investissements immobiliers indirects seront plut\u00f4t plus \u00e9lev\u00e9s \u00e0 l&rsquo;avenir.<\/li>\n<\/ul>\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Fin mai 2026, le march\u00e9 des placements immobiliers indirects suisses reste relativement solide sur le plan op\u00e9rationnel, en d\u00e9pit de plusieurs d\u00e9fis qui se profilent. Depuis le d\u00e9but de l&rsquo;ann\u00e9e, tous les indices ont cl\u00f4tur\u00e9 positivement \u00e0 fin mai. Sur douze mois, la performance des fonds immobiliers cot\u00e9s est de 7,77% et celle des actions immobili\u00e8res suisses cot\u00e9es de 12,67%. Avec 5,06 %, l&rsquo;indice CAFP \u00e9valu\u00e9 \u00e0 la VNI se situe juste dans la moyenne de la performance annuelle \u00e0 long terme des 20 derni\u00e8res ann\u00e9es. En cons\u00e9quence, les agios des placements cot\u00e9s restent \u00e9galement \u00e9lev\u00e9s. Apr\u00e8s un bref plongeon en mars, la prime ajust\u00e9e du SWIIT est \u00e0 nouveau sup\u00e9rieure \u00e0 34%.     <\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a28b95191097&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"6a28b95191097\" class=\"wp-block-image size-large is-resized wp-lightbox-container\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"774\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on--pointerdown=\"actions.preloadImage\" data-wp-on--pointerenter=\"actions.preloadImageWithDelay\" data-wp-on--pointerleave=\"actions.cancelPreload\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260503_Perf_FR-1-1024x774.png\" alt=\"\" class=\"wp-image-10389\" style=\"width:622px;height:auto\" srcset=\"https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260503_Perf_FR-1-1024x774.png 1024w, https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260503_Perf_FR-1-500x378.png 500w, https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260503_Perf_FR-1-768x581.png 768w, https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260503_Perf_FR-1-1536x1162.png 1536w, https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260503_Perf_FR-1-2048x1549.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\tdata-wp-bind--aria-label=\"state.thisImage.triggerButtonAriaLabel\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.thisImage.buttonRight\"\n\t\t\tdata-wp-style--top=\"state.thisImage.buttonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Les taux d&rsquo;actualisation : A nouveau en l\u00e9g\u00e8re baisse<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Les premiers produits d&rsquo;investissement cl\u00f4tur\u00e9s \u00e0 la fin du premier trimestre ont d\u00e9j\u00e0 \u00e9t\u00e9 publi\u00e9s. Voici n\u00e9anmoins un bref aper\u00e7u des produits cl\u00f4tur\u00e9s \u00e0 la fin de l&rsquo;ann\u00e9e, de loin la date de cl\u00f4ture la plus importante. Les taux d&rsquo;actualisation m\u00e9dians des portefeuilles cl\u00f4tur\u00e9s fin 2025 ont l\u00e9g\u00e8rement baiss\u00e9 (-6 pb).    <\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-style-default\"><img decoding=\"async\" width=\"2560\" height=\"1340\" src=\"https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260503_Diskont_FR-1-scaled.png\" alt=\"\" class=\"wp-image-10393\" srcset=\"https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260503_Diskont_FR-1-scaled.png 2560w, https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260503_Diskont_FR-1-500x262.png 500w, https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260503_Diskont_FR-1-1024x536.png 1024w, https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260503_Diskont_FR-1-768x402.png 768w, https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260503_Diskont_FR-1-1536x804.png 1536w, https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260503_Diskont_FR-1-2048x1072.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Rendements des investissements : Logement avec gains en capital, Commercial avec performance op\u00e9rationnelle<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Les rendements de placement clairement positifs sont d\u00e9finitivement de retour. Le graphique suivant montre les rendements des placements de tous les fonds et fondations de placement cl\u00f4tur\u00e9s \u00e0 la fin de l&rsquo;ann\u00e9e. Il s&rsquo;agissait de 57 produits repr\u00e9sentant une fortune nette de 62 milliards de CHF. Le rendement des placements s&rsquo;est \u00e9lev\u00e9 en moyenne \u00e0 5,1 %. Sur ce total, 3,13 % correspondaient \u00e0 des revenus nets et 1,85 % \u00e0 des gains en capital (0,12 % \u00e0 d&rsquo;autres variations de la fortune nette).   <\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a28b95191f94&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"6a28b95191f94\" class=\"wp-block-image size-large is-resized wp-lightbox-container\"><img decoding=\"async\" width=\"561\" height=\"1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on--pointerdown=\"actions.preloadImage\" data-wp-on--pointerenter=\"actions.preloadImageWithDelay\" data-wp-on--pointerleave=\"actions.cancelPreload\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260603_Anlagerenditen_FR-561x1024.png\" alt=\"\" class=\"wp-image-10338\" style=\"aspect-ratio:0.5498075298094076;width:568px;height:auto\" srcset=\"https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260603_Anlagerenditen_FR-561x1024.png 561w, https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260603_Anlagerenditen_FR-274x500.png 274w, https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260603_Anlagerenditen_FR-768x1401.png 768w, https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260603_Anlagerenditen_FR-842x1536.png 842w, https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260603_Anlagerenditen_FR-1123x2048.png 1123w, https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260603_Anlagerenditen_FR-scaled.png 1403w\" sizes=\"(max-width: 561px) 100vw, 561px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\tdata-wp-bind--aria-label=\"state.thisImage.triggerButtonAriaLabel\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.thisImage.buttonRight\"\n\t\t\tdata-wp-style--top=\"state.thisImage.buttonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><\/figure>\n\n\n\n<details class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary><em><strong>M\u00e9thodologie utilis\u00e9e pour repr\u00e9senter le rendement des investissements<\/strong><\/em><\/summary>\n<p class=\"has-small-font-size wp-block-paragraph\"><em>Le graphique montre le rendement des placements de tous les fonds immobiliers et fondations de placement ax\u00e9s sur l&rsquo;immobilier suisse qui cl\u00f4turent leur exercice \u00e0 une date de cl\u00f4ture d\u00e9finie (30.09 ; y compris les produits cl\u00f4tur\u00e9s au 31.10) et dont les donn\u00e9es \u00e9taient publi\u00e9es et disponibles au moment de l&rsquo;\u00e9laboration de l&rsquo;analyse.<br><br>Le rendement de l&rsquo;investissement est divis\u00e9 en une composante de revenu net et une composante de revenu du capital. Les parts respectives sont calcul\u00e9es par part sur la base de la variation en fin d&rsquo;ann\u00e9e. Les augmentations de capital, les produits de la circulation des parts et les dotations\/reprises d&rsquo;amortissements qui affectent l&rsquo;actif net peuvent g\u00e9n\u00e9rer une valeur r\u00e9siduelle que nous indiquons s\u00e9par\u00e9ment.  <br><br>Le graphique repr\u00e9sente un instantan\u00e9 de l&rsquo;environnement de march\u00e9 actuel et ne constitue pas une recommandation d&rsquo;investissement.<\/em><\/p>\n<\/details>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">La diff\u00e9rence selon l&rsquo;utilisation est frappante : les produits r\u00e9sidentiels ont g\u00e9n\u00e9r\u00e9 en m\u00e9diane pr\u00e8s de la moiti\u00e9 du rendement des placements gr\u00e2ce \u00e0 des gains de valorisation, tandis que les produits commerciaux ne pr\u00e9sentent que des revalorisations minimes, mais un rendement op\u00e9rationnel nettement plus \u00e9lev\u00e9. Le graphique suivant montre sous forme de bo\u00eete \u00e0 moustaches la r\u00e9partition du rendement des placements ou de ses composantes. En m\u00e9diane, le rendement des placements pour les produits r\u00e9sidentiels \u00e9tait sup\u00e9rieur de 42 pb \u00e0 celui des produits commerciaux (5,4 % contre 4,98 %).  <\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a28b95192957&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"6a28b95192957\" class=\"wp-block-image size-large is-resized has-custom-border wp-lightbox-container\" style=\"margin-top:0;margin-right:0;margin-bottom:0;margin-left:0\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"642\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on--pointerdown=\"actions.preloadImage\" data-wp-on--pointerenter=\"actions.preloadImageWithDelay\" data-wp-on--pointerleave=\"actions.cancelPreload\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260603_Boxplots_FR-1-1024x642.png\" alt=\"\" class=\"wp-image-10396\" style=\"border-style:none;border-width:0px;aspect-ratio:1.595029340697273;width:741px;height:auto\" srcset=\"https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260603_Boxplots_FR-1-1024x642.png 1024w, https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260603_Boxplots_FR-1-500x314.png 500w, https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260603_Boxplots_FR-1-768x482.png 768w, https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260603_Boxplots_FR-1-1536x964.png 1536w, https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260603_Boxplots_FR-1-2048x1285.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\tdata-wp-bind--aria-label=\"state.thisImage.triggerButtonAriaLabel\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.thisImage.buttonRight\"\n\t\t\tdata-wp-style--top=\"state.thisImage.buttonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><\/figure>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-group has-background is-layout-constrained wp-container-core-group-is-layout-26a738c0 wp-block-group-is-layout-constrained\" style=\"border-radius:24px;background-color:#ecf0f3;padding-top:24px;padding-right:24px;padding-bottom:24px;padding-left:24px\">\n<h2 class=\"wp-block-heading\">Le portail de donn\u00e9es Alphaprop aide \u00e0 analyser et \u00e0 comparer les placements immobiliers indirects<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Tableau de bord clair et intuitif sur l&rsquo;ensemble de l&rsquo;univers des placements immobiliers indirects suisses<\/li>\n\n\n\n<li>Utilis\u00e9 par les principaux gestionnaires d&rsquo;actifs, caisses de pension, conseillers et fournisseurs de produits<\/li>\n\n\n\n<li>Plus de 170 produits avec plus de 180 milliards d&rsquo;actifs nets<\/li>\n\n\n\n<li>Possibilit\u00e9 d&rsquo;analyse jusqu&rsquo;au niveau de l&rsquo;immeuble individuel (plus de 9 500 objets)<\/li>\n\n\n\n<li>Cr\u00e9ation de comparaisons de produits et de rapports d&rsquo;analyse comparative clairs au format PDF<\/li>\n\n\n\n<li>T\u00e9l\u00e9chargement de votre propre portefeuille indirect ou direct et repr\u00e9sentation pond\u00e9r\u00e9e par l&rsquo;actif<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-3e41869c wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--1\"><a class=\"wp-block-button__link has-text-align-center wp-element-button\" href=\"https:\/\/alphaprop.ch\/fr\/des-placements-immobiliers-indirects-transparents\/\" target=\"_blank\" rel=\"noreferrer noopener\">En savoir plus<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Incertitude sur les taux d&rsquo;int\u00e9r\u00eat, afflux de capitaux et risques politiques<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Compte tenu de l&rsquo;incertitude mondiale et du prix \u00e9lev\u00e9 du p\u00e9trole, la question se pose de savoir dans quelle mesure l&rsquo;inflation pourrait continuer \u00e0 augmenter aux \u00c9tats-Unis et en Europe occidentale et &#8211; malgr\u00e9 la force du franc &#8211; entra\u00eener l&rsquo;inflation en Suisse. Les taux swap en CHF \u00e0 10 ans, qui mesurent les attentes en mati\u00e8re de taux d&rsquo;int\u00e9r\u00eat, ont l\u00e9g\u00e8rement augment\u00e9 au cours des derniers mois. Les placements immobiliers cot\u00e9s sont donc sensibles \u00e0 ce changement.  <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">En d\u00e9pit d&rsquo;un environnement plut\u00f4t incertain, les fonds immobiliers collectent des capitaux \u00e0 un rythme soutenu. Fin mai, des augmentations de capital d&rsquo;un montant de 3,7 milliards de CHF \u00e9taient annonc\u00e9es ou d\u00e9j\u00e0 r\u00e9alis\u00e9es pour 2026, un nouveau record \u00e0 ce moment de l&rsquo;ann\u00e9e. En 2025, le volume pour les fonds \u00e9tait de 4,9 milliards de CHF. Dans les fonds avec une prime clairement positive, le capital est toujours souscrit, car les nouvelles parts sont \u00e9mises \u00e0 la VNI (plus les frais). En revanche, un fonds cot\u00e9 avec une prime de 0 n&rsquo;a d\u00e9j\u00e0 plus pu souscrire enti\u00e8rement &#8211; un premier signal potentiel de r\u00e9ticence et, au niveau actuel de la prime, une pr\u00e9f\u00e9rence pour les fondations d&rsquo;investissement. Apr\u00e8s une augmentation de capital, la question se pose, en particulier pour les produits r\u00e9sidentiels, de savoir comment investir de mani\u00e8re productive sur le march\u00e9 actuel des transactions. La possibilit\u00e9 d&rsquo;investir dans son propre portefeuille constitue certainement un avantage \u00e0 cet \u00e9gard.     <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Les investissements immobiliers \u00e9voluent dans un environnement politique qui n&rsquo;a probablement jamais \u00e9t\u00e9 aussi rude pour les investisseurs immobiliers au cours des derni\u00e8res ann\u00e9es. L&rsquo;initiative pour la protection du logement du 14 juin dans le canton de Zurich en constitue le point culminant provisoire. Son acceptation aurait un impact \u00e9vident sur les investissements immobiliers indirects. Selon notre analyse, plus de 10 % des valeurs de march\u00e9 de SWIIT se trouvent dans des immeubles d&rsquo;habitation ou \u00e0 usage mixte dans le canton de Zurich, qui seraient probablement touch\u00e9s par une r\u00e9glementation suppl\u00e9mentaire. Mais m\u00eame en cas de non, d&rsquo;autres projets suivront dans diff\u00e9rentes r\u00e9gions. Par ailleurs, il est question d&rsquo;un renforcement de la Lex Koller, qui interviendrait massivement sur le march\u00e9 des immeubles de rapport commerciaux et des placements immobiliers indirects. Alors que la proposition actuelle est assez farfelue et que ses cons\u00e9quences seraient d\u00e9sastreuses, nous pensons que des ajustements ou des att\u00e9nuations suivront. N\u00e9anmoins, il s&rsquo;agit \u00e9galement d&rsquo;un signal indiquant que les obstacles pour les acteurs du secteur de l&rsquo;investissement indirect seront plus \u00e9lev\u00e9s que plus bas \u00e0 l&rsquo;avenir.       <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rendements solides et afflux record de capitaux pour les fonds immobiliers suisses en 2026. Mais les risques politiques croissants mettent les investisseurs au d\u00e9fi.<\/p>\n","protected":false},"author":6,"featured_media":10354,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[10],"tags":[52,51],"class_list":["post-10278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-non-categorise","tag-marche","tag-placements-immobiliers-indirects"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Les placements immobiliers indirects suisses en juin 2026 - alphaprop<\/title>\n<meta name=\"description\" content=\"Rendements solides et afflux record de capitaux pour les fonds immobiliers suisses en 2026. Mais les risques politiques croissants mettent les investisseurs au d\u00e9fi.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/alphaprop.ch\/fr\/les-placements-immobiliers-indirects-suisses-en-juin-2026\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Les placements immobiliers indirects suisses en juin 2026 - alphaprop\" \/>\n<meta property=\"og:description\" content=\"Rendements solides et afflux record de capitaux pour les fonds immobiliers suisses en 2026. Mais les risques politiques croissants mettent les investisseurs au d\u00e9fi.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/alphaprop.ch\/fr\/les-placements-immobiliers-indirects-suisses-en-juin-2026\/\" \/>\n<meta property=\"og:site_name\" content=\"alphaprop\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-02T08:55:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-06-05T16:15:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260603_Titelbild_FR-scaled.png\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1615\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"ctanner\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u00c9crit par\" \/>\n\t<meta name=\"twitter:data1\" content=\"ctanner\" \/>\n\t<meta name=\"twitter:label2\" content=\"Dur\u00e9e de lecture estim\u00e9e\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/alphaprop.ch\\\/fr\\\/les-placements-immobiliers-indirects-suisses-en-juin-2026\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/alphaprop.ch\\\/fr\\\/les-placements-immobiliers-indirects-suisses-en-juin-2026\\\/\"},\"author\":{\"name\":\"ctanner\",\"@id\":\"https:\\\/\\\/alphaprop.ch\\\/#\\\/schema\\\/person\\\/4bb9867b611fa5a7b076d5e2e59d715d\"},\"headline\":\"Les placements immobiliers indirects suisses en juin 2026\",\"datePublished\":\"2026-06-02T08:55:48+00:00\",\"dateModified\":\"2026-06-05T16:15:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/alphaprop.ch\\\/fr\\\/les-placements-immobiliers-indirects-suisses-en-juin-2026\\\/\"},\"wordCount\":1257,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/alphaprop.ch\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/alphaprop.ch\\\/fr\\\/les-placements-immobiliers-indirects-suisses-en-juin-2026\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/alphaprop.ch\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/20260603_Titelbild_FR-scaled.png\",\"keywords\":[\"March\u00e9\",\"Placements immobiliers indirects\"],\"articleSection\":[\"Non cat\u00e9goris\u00e9\"],\"inLanguage\":\"fr-FR\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/alphaprop.ch\\\/fr\\\/les-placements-immobiliers-indirects-suisses-en-juin-2026\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/alphaprop.ch\\\/fr\\\/les-placements-immobiliers-indirects-suisses-en-juin-2026\\\/\",\"url\":\"https:\\\/\\\/alphaprop.ch\\\/fr\\\/les-placements-immobiliers-indirects-suisses-en-juin-2026\\\/\",\"name\":\"Les placements immobiliers indirects suisses en juin 2026 - alphaprop\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/alphaprop.ch\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/alphaprop.ch\\\/fr\\\/les-placements-immobiliers-indirects-suisses-en-juin-2026\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/alphaprop.ch\\\/fr\\\/les-placements-immobiliers-indirects-suisses-en-juin-2026\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/alphaprop.ch\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/20260603_Titelbild_FR-scaled.png\",\"datePublished\":\"2026-06-02T08:55:48+00:00\",\"dateModified\":\"2026-06-05T16:15:07+00:00\",\"description\":\"Rendements solides et afflux record de capitaux pour les fonds immobiliers suisses en 2026. Mais les risques politiques croissants mettent les investisseurs au d\u00e9fi.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/alphaprop.ch\\\/fr\\\/les-placements-immobiliers-indirects-suisses-en-juin-2026\\\/#breadcrumb\"},\"inLanguage\":\"fr-FR\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/alphaprop.ch\\\/fr\\\/les-placements-immobiliers-indirects-suisses-en-juin-2026\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-FR\",\"@id\":\"https:\\\/\\\/alphaprop.ch\\\/fr\\\/les-placements-immobiliers-indirects-suisses-en-juin-2026\\\/#primaryimage\",\"url\":\"https:\\\/\\\/alphaprop.ch\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/20260603_Titelbild_FR-scaled.png\",\"contentUrl\":\"https:\\\/\\\/alphaprop.ch\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/20260603_Titelbild_FR-scaled.png\",\"width\":2560,\"height\":1615},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/alphaprop.ch\\\/fr\\\/les-placements-immobiliers-indirects-suisses-en-juin-2026\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/alphaprop.ch\\\/fr\\\/accueil\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Les placements immobiliers indirects suisses en juin 2026\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/alphaprop.ch\\\/#website\",\"url\":\"https:\\\/\\\/alphaprop.ch\\\/\",\"name\":\"alphaprop\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/alphaprop.ch\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/alphaprop.ch\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"fr-FR\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/alphaprop.ch\\\/#organization\",\"name\":\"alphaprop\",\"url\":\"https:\\\/\\\/alphaprop.ch\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-FR\",\"@id\":\"https:\\\/\\\/alphaprop.ch\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/alphaprop.ch\\\/wp-content\\\/uploads\\\/2025\\\/04\\\/logo_ap-with-nova.png\",\"contentUrl\":\"https:\\\/\\\/alphaprop.ch\\\/wp-content\\\/uploads\\\/2025\\\/04\\\/logo_ap-with-nova.png\",\"width\":2354,\"height\":541,\"caption\":\"alphaprop\"},\"image\":{\"@id\":\"https:\\\/\\\/alphaprop.ch\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/alphaprop.ch\\\/#\\\/schema\\\/person\\\/4bb9867b611fa5a7b076d5e2e59d715d\",\"name\":\"ctanner\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-FR\",\"@id\":\"https:\\\/\\\/alphaprop.ch\\\/wp-content\\\/litespeed\\\/avatar\\\/a1bdd881d2d66550ad33a93f7e71ef97.jpg?ver=1780995269\",\"url\":\"https:\\\/\\\/alphaprop.ch\\\/wp-content\\\/litespeed\\\/avatar\\\/a1bdd881d2d66550ad33a93f7e71ef97.jpg?ver=1780995269\",\"contentUrl\":\"https:\\\/\\\/alphaprop.ch\\\/wp-content\\\/litespeed\\\/avatar\\\/a1bdd881d2d66550ad33a93f7e71ef97.jpg?ver=1780995269\",\"caption\":\"ctanner\"},\"url\":\"https:\\\/\\\/alphaprop.ch\\\/fr\\\/author\\\/ctanner\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Les placements immobiliers indirects suisses en juin 2026 - alphaprop","description":"Rendements solides et afflux record de capitaux pour les fonds immobiliers suisses en 2026. Mais les risques politiques croissants mettent les investisseurs au d\u00e9fi.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/alphaprop.ch\/fr\/les-placements-immobiliers-indirects-suisses-en-juin-2026\/","og_locale":"fr_FR","og_type":"article","og_title":"Les placements immobiliers indirects suisses en juin 2026 - alphaprop","og_description":"Rendements solides et afflux record de capitaux pour les fonds immobiliers suisses en 2026. Mais les risques politiques croissants mettent les investisseurs au d\u00e9fi.","og_url":"https:\/\/alphaprop.ch\/fr\/les-placements-immobiliers-indirects-suisses-en-juin-2026\/","og_site_name":"alphaprop","article_published_time":"2026-06-02T08:55:48+00:00","article_modified_time":"2026-06-05T16:15:07+00:00","og_image":[{"width":2560,"height":1615,"url":"https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260603_Titelbild_FR-scaled.png","type":"image\/png"}],"author":"ctanner","twitter_card":"summary_large_image","twitter_misc":{"\u00c9crit par":"ctanner","Dur\u00e9e de lecture estim\u00e9e":"8 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/alphaprop.ch\/fr\/les-placements-immobiliers-indirects-suisses-en-juin-2026\/#article","isPartOf":{"@id":"https:\/\/alphaprop.ch\/fr\/les-placements-immobiliers-indirects-suisses-en-juin-2026\/"},"author":{"name":"ctanner","@id":"https:\/\/alphaprop.ch\/#\/schema\/person\/4bb9867b611fa5a7b076d5e2e59d715d"},"headline":"Les placements immobiliers indirects suisses en juin 2026","datePublished":"2026-06-02T08:55:48+00:00","dateModified":"2026-06-05T16:15:07+00:00","mainEntityOfPage":{"@id":"https:\/\/alphaprop.ch\/fr\/les-placements-immobiliers-indirects-suisses-en-juin-2026\/"},"wordCount":1257,"commentCount":0,"publisher":{"@id":"https:\/\/alphaprop.ch\/#organization"},"image":{"@id":"https:\/\/alphaprop.ch\/fr\/les-placements-immobiliers-indirects-suisses-en-juin-2026\/#primaryimage"},"thumbnailUrl":"https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260603_Titelbild_FR-scaled.png","keywords":["March\u00e9","Placements immobiliers indirects"],"articleSection":["Non cat\u00e9goris\u00e9"],"inLanguage":"fr-FR","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/alphaprop.ch\/fr\/les-placements-immobiliers-indirects-suisses-en-juin-2026\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/alphaprop.ch\/fr\/les-placements-immobiliers-indirects-suisses-en-juin-2026\/","url":"https:\/\/alphaprop.ch\/fr\/les-placements-immobiliers-indirects-suisses-en-juin-2026\/","name":"Les placements immobiliers indirects suisses en juin 2026 - alphaprop","isPartOf":{"@id":"https:\/\/alphaprop.ch\/#website"},"primaryImageOfPage":{"@id":"https:\/\/alphaprop.ch\/fr\/les-placements-immobiliers-indirects-suisses-en-juin-2026\/#primaryimage"},"image":{"@id":"https:\/\/alphaprop.ch\/fr\/les-placements-immobiliers-indirects-suisses-en-juin-2026\/#primaryimage"},"thumbnailUrl":"https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260603_Titelbild_FR-scaled.png","datePublished":"2026-06-02T08:55:48+00:00","dateModified":"2026-06-05T16:15:07+00:00","description":"Rendements solides et afflux record de capitaux pour les fonds immobiliers suisses en 2026. Mais les risques politiques croissants mettent les investisseurs au d\u00e9fi.","breadcrumb":{"@id":"https:\/\/alphaprop.ch\/fr\/les-placements-immobiliers-indirects-suisses-en-juin-2026\/#breadcrumb"},"inLanguage":"fr-FR","potentialAction":[{"@type":"ReadAction","target":["https:\/\/alphaprop.ch\/fr\/les-placements-immobiliers-indirects-suisses-en-juin-2026\/"]}]},{"@type":"ImageObject","inLanguage":"fr-FR","@id":"https:\/\/alphaprop.ch\/fr\/les-placements-immobiliers-indirects-suisses-en-juin-2026\/#primaryimage","url":"https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260603_Titelbild_FR-scaled.png","contentUrl":"https:\/\/alphaprop.ch\/wp-content\/uploads\/2026\/06\/20260603_Titelbild_FR-scaled.png","width":2560,"height":1615},{"@type":"BreadcrumbList","@id":"https:\/\/alphaprop.ch\/fr\/les-placements-immobiliers-indirects-suisses-en-juin-2026\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/alphaprop.ch\/fr\/accueil\/"},{"@type":"ListItem","position":2,"name":"Les placements immobiliers indirects suisses en juin 2026"}]},{"@type":"WebSite","@id":"https:\/\/alphaprop.ch\/#website","url":"https:\/\/alphaprop.ch\/","name":"alphaprop","description":"","publisher":{"@id":"https:\/\/alphaprop.ch\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/alphaprop.ch\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"fr-FR"},{"@type":"Organization","@id":"https:\/\/alphaprop.ch\/#organization","name":"alphaprop","url":"https:\/\/alphaprop.ch\/","logo":{"@type":"ImageObject","inLanguage":"fr-FR","@id":"https:\/\/alphaprop.ch\/#\/schema\/logo\/image\/","url":"https:\/\/alphaprop.ch\/wp-content\/uploads\/2025\/04\/logo_ap-with-nova.png","contentUrl":"https:\/\/alphaprop.ch\/wp-content\/uploads\/2025\/04\/logo_ap-with-nova.png","width":2354,"height":541,"caption":"alphaprop"},"image":{"@id":"https:\/\/alphaprop.ch\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/alphaprop.ch\/#\/schema\/person\/4bb9867b611fa5a7b076d5e2e59d715d","name":"ctanner","image":{"@type":"ImageObject","inLanguage":"fr-FR","@id":"https:\/\/alphaprop.ch\/wp-content\/litespeed\/avatar\/a1bdd881d2d66550ad33a93f7e71ef97.jpg?ver=1780995269","url":"https:\/\/alphaprop.ch\/wp-content\/litespeed\/avatar\/a1bdd881d2d66550ad33a93f7e71ef97.jpg?ver=1780995269","contentUrl":"https:\/\/alphaprop.ch\/wp-content\/litespeed\/avatar\/a1bdd881d2d66550ad33a93f7e71ef97.jpg?ver=1780995269","caption":"ctanner"},"url":"https:\/\/alphaprop.ch\/fr\/author\/ctanner\/"}]}},"_links":{"self":[{"href":"https:\/\/alphaprop.ch\/fr\/wp-json\/wp\/v2\/posts\/10278","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphaprop.ch\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphaprop.ch\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphaprop.ch\/fr\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/alphaprop.ch\/fr\/wp-json\/wp\/v2\/comments?post=10278"}],"version-history":[{"count":9,"href":"https:\/\/alphaprop.ch\/fr\/wp-json\/wp\/v2\/posts\/10278\/revisions"}],"predecessor-version":[{"id":10399,"href":"https:\/\/alphaprop.ch\/fr\/wp-json\/wp\/v2\/posts\/10278\/revisions\/10399"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphaprop.ch\/fr\/wp-json\/wp\/v2\/media\/10354"}],"wp:attachment":[{"href":"https:\/\/alphaprop.ch\/fr\/wp-json\/wp\/v2\/media?parent=10278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphaprop.ch\/fr\/wp-json\/wp\/v2\/categories?post=10278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphaprop.ch\/fr\/wp-json\/wp\/v2\/tags?post=10278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}