Market analysis: Where are the most real estate auctions in Switzerland?
June 25, 2025
Switzerland has several thousand mortgage foreclosures annually, meaning forced auctions of properties and buildings. However, the distribution is anything but homogeneous: While some cantons only call out a few properties, others hold several auctions weekly. This article provides a data-driven overview, highlights regional hotspots, and explains which macro and micro factors influence the numbers, an essential foundation for your location strategy.
1 Nationwide figures, the framework
According to the latest enforcement statistics from the Federal Statistical Office (BFS), 5,821 mortgage foreclosures were ordered nationwide in 2023. Of these, 41% were in German-speaking Switzerland, 35% in the Romandy region, and 24% in Ticino and Graubünden combined.
2 Where are the most auctions? (absolute numbers)
| Rank | Canton | Number 2023 | Ø annual growth (’19-’23) |
|---|---|---|---|
| 1 | Zurich | 1,042 | +2.7 % |
| 2 | Bern | 612 | +1.8 % |
| 3 | Vaud | 553 | +4.1 % |
| 4 | Aargau | 487 | −0.5 % |
| 5 | St. Gallen | 334 | +3.3 % |
Source: BFS table "Enforcement actions by canton," own calculation.
3 Hot spots per 100,000 inhabitants, hidden opportunities
- Jura: 13 auctions per 100,000 inhabitants
- Valais: 11 / 100,000 inhabitants
- Schaffhausen: 10 / 100,000 inhabitants
- Glarus: 9 / 100,000 inhabitants
The high relative rate in peripheral cantons reflects, on the one hand, lower purchasing power, and on the other hand, opportunities for investors with renovation expertise and longer holding periods.
4 Why precisely there? Three drivers in comparison
4.1 Economy and labor market
Cantons undergoing structural sectoral changes (e.g., watch industry in the Jura, textiles in the Glarus region) show more emergency foreclosures because business bankruptcies more often result in private payment difficulties.
4.2 Taxes and fees
Cantons with high property transfer or capital gains taxes (Vaud, Fribourg) show a larger delta between free market and auction price, creating an incentive to wait for the auction.
4.3 Procedural culture
In Zurich, the enforcement inspectorate maintains a transparent, weekly auction calendar, with high visibility ensuring a continuous influx.
5 Which region fits which strategy?
| Strategy | Recommended Regions | Why? |
|---|---|---|
| Buy to Let (Cash Flow) | Zurich, Geneva, Basel-City | Micro vacancy rate < 1%, quick rental |
| Fix and Flip | Vaud, Aargau, St. Gallen | Good spread with moderate construction costs |
| Value-Add / Tiny-House | Jura, Valais, Glarus | Affordable rustic properties + funding programs for mountain areas |
6 10-Point Checklist Before Choosing a Location
- Auction frequency ≥ 2/month?
- Vacancy rate < 2% (Buy-to-Let)?
- Spread ≥ 10% between estimated and market value?
- Plan for transfer tax?
- Payment deadline (20 days) coordinated with the bank?
- Check construction cost index vs. Swiss average.
- Are funding programs (energy, mountain areas) available?
- Checked for contaminated site registers?
- Clear municipal building/ESG requirements?
- Exit scenario: Rent or sell in < 24 months?
7 Conclusion: There are hot spots, you just need to know which ones suit you
Most forced auctions can be found in absolute terms in the population and economic centers of Zurich, Bern, and Vaud. However, relative to the population, the potential often lies in smaller cantons such as Jura or Valais. Therefore, it is not only the amount of auctions that is crucial, but also your business model: short- or long-term, yield- or value-oriented. With a data-driven choice of location, the "forced auction" becomes a targeted asset strategy instead of a lottery.
