Cave de Genève
Launched in June 2024, VIAGER SWISS SCmPC is still the only vehicle of its kind in Switzerland. It lets investors diversify their real estate portfolios with villas and condominiums that their owners have sold under life annuity (viager) arrangements.
Launched in June 2024, VIAGER SWISS SCmPC remains a one-of-a-kind investment vehicle in Switzerland. It enables investors to diversify their real estate portfolios through villas and condominiums sold by their owners on a life annuity (viager) basis.
Since its launch, the fund has completed 26 acquisitions worth nearly CHF 46 million. Its acquisition and property-management processes have now been tested through every stage, up to vacancy and resale, so the fund can keep growing on a solid footing.
Two years of activity have now produced an initial track record of solid performance. This positions life annuity (viager) property as a credible alternative to traditional real estate investment in Switzerland, with a different way of creating value and exposure to single-family homes.
What sets life annuity investment apart is the way it creates value. The fund buys properties that meet predefined criteria, including location, property type, estimated duration and exit strategy. Because the former owners keep living in the properties, the purchase price is set at acquisition to target a return of 4.25% over the estimated term.
As of 30 June 2026, these “prepaid rents” amounted to CHF 9.5 million on the fund’s balance sheet, which will provide the return on the CHF 25 million of subscribed capital. This return should be realised gradually as the properties become vacant.
“Two years after launch, our results clearly show that the management model works. Our unique approach gives investors a source of returns that diversifies their real estate allocation. Many qualified investors have been following life annuity investment with interest without yet taking the plunge. For them, these first two years confirm that a differentiated strategy can succeed,” says César Pidoux, Partner and Head of the VIAGER SWISS SCmPC fund at GEFISWISS.
The fund now has a pipeline of more than CHF 40 million in potential new acquisitions, enabling it to deploy capital from new investors immediately.
In a Swiss real estate market where investment opportunities are still in high demand, the fund offers exposure to single-family homes, mainly in the Lake Geneva region.
“Life annuity investment takes a different approach from traditional real estate investment. The aim is to generate long-term returns, benefit from the upside potential of the Swiss property market and bring genuine diversification to investors’ portfolios,” says Sébastien Buchs, Head of Investor Relations at GEFISWISS.
The fund also has a strong social side. Life annuity sales let seniors turn part of their property wealth into cash without leaving their homes. In effect, this makes property a “fourth pillar” for funding retirement.
Key figures
More than CHF 40 million in the pipeline
4.23%* estimated annualised net performance (2 years)
Nearly CHF 46 million in acquired assets
26 acquisitions
CHF 9.5 million in residual occupancy rights
* Past performance is not a reliable indicator of future results. This document is provided for information purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or an investment recommendation. Before subscribing, investors should read the prospectus, the Key Information Document (KID) and the fund regulations.
Find all our Press Releases
