Indeed. Sinking real estate prices will have a positive effect on prices for everything, and may help business heavily. I am not an expert in either finance or real estate but clearly see the connection between real estate and rental prices and the rest of the economy, and so simply hope that the prices of real estate do not increase further. If the sink, the better it is.

Geneva was mentioned but Geneva is special. Not comparable to the rest of the country. Also not to the Ticino, where Lugano can expand into various directions (like the Malcantone) and Locarno+Bellinzona up and down the Ticino River (including the Magadino area). Zurich can and does and will expand to the north/northwest/northeast. Basel can expand towards the Canton of Solothurn and into the Laufental. While Geneva is enclosed by France. And the love of Genevans for the Pays Vaudois has its limits