No, it is not. [1]
[1] http://europa.eu/about-eu/countries/member-countries/index_e...
If Switzerland accepts the basic income, they would probably have to leave EEA or negotiate some pretty steep exceptions to its membership.
Aside from the fact that Switzerland isn't an EEA member, Basic Income is not a condition or benefit of working in the country, it is (like, e.g., voting) a condition of citizenship unconnected with whether or not the citizen is working.
http://en.wikipedia.org/wiki/Switzerland–European_Union_rela...
Beyond the increase in rents, I would also expect a consequence to be for the tax regime to become less progressive (perhaps a flat tax rate) and more rigorously enforced. This might add up to making Switzerland an unattractive country for people to work who do not intend to take citizenship.
edit to clarify: if you are a Swiss citizen you would earn your wage + state wage, and if you are an immigrant you would earn just your wage... making virtually impossible to afford living there (considering your wage =~ state given wage), only for very well paid jobs that this would make no difference.
edit: typo