Foreclosure auctions in Switzerland: How regional markets offer unique opportunities

Forced auctions are no longer the marginal phenomenon they are often perceived to be. Current market reports show that hundreds of properties in Switzerland change hands via auction every year, at prices and conditions that open up above-average potentials for savvy investors, end-users, and project developers. Below, we highlight the key trends of the last four years, point out cantonal hot spots, and explain why now is a great time to take a closer look at this market segment.

1 | Multi-Year Market Dynamics: From Catch-Up Effects to Stable Volumes

Year	Number of Auctions	Volume (Mio. CHF)	Average Monthly Auctions
2021	854	≈ 904	71
2022	622	≈ 744	52
2023	644	≈ 561	54
2024	610	≈ 671	51

The numbers show a brief spike in 2021 due to the pandemic, followed by a normalization in 2022 and 2023, and a stable consolidation in 2024. The fact that the auction volume increased by nearly 20% in 2024 despite a lower number of properties indicates that more high-quality real estate (e.g., villas and multi-family houses) went under the hammer.

“Condos and residential buildings accounted for about two-thirds of all forced auctions.”

2 | Regional Hot Spots: Cantons with Above-Average Activity

The cantonal distribution makes it clear where the opportunities are greatest:

Ticino (TI): Leader in terms of auctions per 100,000 residents (38.2 in 2023 and 32.6 in 2024).
Valais (VS): consistently high absolute numbers and strong demand for vacation properties.
Vaud (VD): third-largest market, especially for high-priced residential buildings.
Glarus (GL): small market, but with 27.2 auctions per 100,000 residents in 2022, a true insider tip for value investors.
Bern (BE) & Zurich (ZH): high absolute number of properties, but highly competitive, where it pays to focus on niches such as smaller multi-family houses or commercial units.

The regional differences are explained by varying mortgage burdens, seasonality (vacation regions), and the structure of local labor markets. Investors can leverage this knowledge to specifically bid in cantons with high supply pressure (e.g., Ticino) or price discounts (e.g., Jura).

3 | Property Types: Where Are the Margins?

3.1 Distribution & Volume

2023: Residential buildings (247 properties) and condominiums (189 properties) = 68% of all auctions.
2024: Share increased to 75% (256 houses / 204 apartments).
Highest single volume in 2024: Residential buildings (≈ 285 Mio. CHF).

3.2 Average Market Values 2024

Property Type	Ø Market Value (Thousand CHF)
Villa	≈ 3,920
Mixed-use Building	≈ 1,820
Multi-Family House	≈ 1,590
Commercial Property	≈ 1,400
Residential House	≈ 1,110
Condominium	≈ 740
Property	≈ 150

The margins result less from the absolute price, and more from the discount to market value. For villas, low bidding numbers can allow price discounts of 15-25%, while for condominiums, the structuring of homeowners' associations is often more of a bottleneck than the purchase price.

4 | Opportunity Profile by Investor Type

Small Investor (< 1 Mio. CHF Budget)

Condominiums in Thurgau (TG) or Neuchâtel (NE), low entry prices, solid rental yields of around 4-5%.
Small houses in Jura (JU), market values sometimes under 320,000 CHF.

Value-Add Developer

Multi-family houses in Valais (VS), high tourism demand allows for conversion to serviced apartments.
Commercial conversions in Bern (BE) or Aargau (AG), vacancies can be converted into living spaces.

Family Office / Institutional

Portfolio building in Ticino: bundling several vacation homes for market entry with increased yield expectations.
Luxury villas on Lake Geneva, rare opportunities in Geneva (GE) and Vaud (VD). Average market values up to 5.1 Mio. CHF (2023).

5 | Seasonal Patterns & Timing Strategy

The largest auction waves traditionally roll through the country in the spring (March-June) and autumn (October/November). In contrast, summer sees a drastically lower volume, in July 2024, there were only 19 dates. For bidders, this means:

Spring Offensive: wide selection, but more competition.
Summer Window: few properties, but minimal bidder pressure.
Autumn Finale: last chance before year-end, often with creditors' sales motivation.

6 | Digitalization & Transparency: Why Entry is Becoming Easier

Portals like LocalAuction now provide not only calendars of dates but also complete market value dossiers, land registry extracts, and virtual viewings. This reduces transaction costs and increases planning certainty: Due diligence in days instead of weeks.

7 | Practical Tips for Successful Bidding

Clarify financing in advance: awards are payable immediately.
Network locally: a conversation with the enforcement office in Solothurn (SO) or Graubünden (GR) often reveals how many co-bidders to expect.
Engage experts: particularly with properties with very low market values (< 50,000 CHF), a complex legal situation is often hidden.

Conclusion: A Market Full of Opportunities

Despite slight fluctuations, the forced auction market in Switzerland remains robust. Regional peculiarities, especially the high dynamics in Ticino, Valais, and Vaud, open up versatile strategies from single-asset flips to best-in-class portfolios. Those who closely monitor trends, utilize seasonal patterns, and rely on data-driven platforms can capitalize on first-class opportunities in 2025 and beyond.