Renovated vs Unrenovated Property Prices in Montreux

The renovation premium

In the Montreux market, a fully renovated apartment with high-quality finishes commands a premium of 20 to 40 percent over an equivalent unrenovated property in the same building or location. For a property where the unrenovated value is CHF 1.2 million, a full renovation to a high standard could push the value to CHF 1.5 million to CHF 1.7 million.

The premium reflects both the cost of the renovation and the convenience value — a buyer purchasing a renovated property does not need to manage a construction project, deal with contractors or live with the disruption of renovation works.

Assessing renovation value

Not all renovations add equal value. A renovation that addresses the most visible and impactful elements — kitchen, bathrooms, flooring, lighting — will add more value than one that focuses on less visible improvements. The quality of materials and workmanship matters: a high-quality renovation using premium materials will achieve a higher premium than a budget renovation.

The location and building quality also affect the renovation premium. A high-quality renovation in a prime building with lake views will achieve a greater premium than the same renovation in a less sought-after building. The renovation must be appropriate to the building and location.

The renovation opportunity

For buyers with the appetite and capacity to manage a renovation project, unrenovated properties in Montreux can offer a compelling opportunity. Purchasing at a discount to renovated equivalents and investing in a high-quality renovation can create value — particularly if the property is in a prime location or building where the renovated value is high.

The key risks are cost overruns, delays and the quality of the finished product. Swiss renovation costs are high and can be difficult to predict precisely. Buyers should obtain detailed cost estimates from reputable contractors before committing to a purchase.

Swiss renovation costs

A full apartment renovation in Montreux — new kitchen, bathrooms, flooring, painting, lighting and potentially heating — typically costs CHF 1,500 to CHF 3,000 per sqm depending on the scope and quality of work. For a 100 sqm apartment, this represents a renovation budget of CHF 150,000 to CHF 300,000.

Buyers should add a contingency of 15 to 20 percent to their renovation budget to cover unexpected costs. Swiss building regulations and the requirements of co-ownership (PPE) associations can add complexity and cost to renovation projects.

Key points

• Renovated properties command 20–40% premium over unrenovated equivalents
• High-quality renovation in a prime location maximises the premium
• Renovation opportunity: buy at a discount, invest in quality, create value
• Swiss renovation costs: CHF 1,500–3,000 per sqm for a full apartment renovation
• Add 15–20% contingency to renovation budgets