Foreclosure auctions in Ticino: top returns in southern Switzerland

The South as a Driver: Why Ticino is Preferred by Investors

Those who systematically utilize forced sales find in Ticino (TI) the best combination of reliable supply, predictable seasonality, and a wide range of properties. The southern canton has been at the top of the rankings for years – both in absolute numbers and per capita – thereby creating a market-driven basis on which investors can reliably fill their pipeline. In 2024, 114 dates were registered in Ticino (32.6 per 100,000 inhabitants), while in 2023 there were 135 (38.2).

Market Data 2021–2024 at a Glance

Switzerland exhibited robust but clearly seasonal patterns between 2021 and 2024. In 2024, the number of auctions slightly decreased to 610, while the total volume increased to around 670.9 million CHF. In 2023, the number was 644 and the volume was about 560.7 million CHF. The peak months were June (75) and October (62) in 2024, and March (79) and June (79) in 2023; the summer months remained subdued each year.

Year	CH: Number	CH: Volume	TI: Number	TI: per 100,000 Inhab.	Seasonal Peaks (CH)
2024	610	≈ 670.9 million CHF	114	32.6	June (75), October (62)
2023	644	≈ 560.7 million CHF	135	38.2	March (79), June (79)
2022	622	≈ 744.2 million CHF	146	41.3	Strong in October/November
2021	854	≈ 904.3 million CHF	154	77.6	May/June

Regional Context

In addition to TI, Waadt (VD), Valais (VS), and Bern (BE) are regularly strong. Per capita, Jura (JU) and Glarus (GL) also stand out in 2024, while Zurich (ZH) and Geneva (GE) rank lower due to large population bases.

Lugano & Locarno as Micro-locations with Leverage

Lakeside neighborhoods in Lugano/Locarno (TI) combine tourist demand with practical infrastructure. For investors, the distance to the promenade, public transportation connectivity, hillside location (drainage!), and parking drive prices. Translating these factors into rental and Capex planning increases calculation certainty – and allows for bidding in quieter summer months with less competition.

Property Mix & Price Levels: Where Returns are Born

The supply base is wide: in 2024, residential buildings and condominiums together accounted for about 75 % of all procedures (around 68 % in 2023). In practice, this means: best data availability (comparative values, rents) and exit flexibility.

Condos (ETW): Ø market value in TI in 2023 was around 797 thousand CHF (2022: ≈902 thousand CHF). Nationwide in 2023, about 60 % of the condos were ≤ 600 thousand CHF – a useful price window for cash flow strategies.
Residential Buildings: Ø market value in TI in 2023 was around 1,073 million CHF (2022: ≈821 thousand CHF). In 2023, the concentration nationwide was between 400 thousand and 1.2 million CHF.
Premium Segments: Villas remained the most expensive category nationwide in 2024 with Ø 3.92 million CHF (2023: 5.1 million CHF) – selective value-add opportunities when location and renovation concept are correct.

"The market value is a guideline – not the target price. What matters is how well yield value, Capex, and micro-location fit together."

// Backward calculation (simplified model for lakeside condominiums in Ticino)
Annual net rent    = (peak_rent * peak_weeks) + (off_rent * off_weeks) - vacancy
Yield value        = Annual net rent / discount rate
Capex              = envelope + technology + interior construction + ancillary costs
Safety discount     = 10%–20% (micro-location, occupancy risk)
MaxBid            = min(Yield value, Market value) - Capex - Safety discount

Seasonality & Bidding Window: Plan When Others Pause

The market follows a clear rhythm: In 2024, June and October were the most active months, while July/August were quiet. In 2023, March and June stood out. Those who prioritize financing and due diligence can use the quieter phases in lakeside locations for disciplined bids.

Managing Risks: Technology, Legal, Liquidity

Building Envelope & Technology: Drainage, roof, windows, heating replacement (oil → heat pump/pellet), hydraulic balancing – transfer Capex to a 3–5-year plan.
STWE & Land Registry: Regulations, special usage rights, easements, building lines. Clarity before bidding.
Liquidity: Include bidding deadlines, fees (transfer, publications), and reserves in planning.
Yield: Check rental potential (location, parking space, balcony/loggia, management) and price in a buffer for seasonality.

Benchmarks for the South

Indicator	Ticino (TI)	Switzerland	Interpretation
Number of ZVG 2024	114	610	Consistent deal flow in the southern canton.
Rate per 100,000 Inhabitants (2024)	32.6	–	Leading per capita – competition is spreading.
Ø Condo (2023)	≈ 0.797 million CHF	–	Solid entry for cash flow strategies.
Ø Residential Building (2023)	≈ 1.073 million CHF	–	Planable corridors with moderate Capex.
Villas Ø (CH)	–	3.92 million (2024) / 5.10 million (2023)	Premium with price drop – bid selectively.
Seasonality (CH)	Quiet summer	Peaks: June/October (2024), March/June (2023)	Summer window for less competition.

FAQ – Frequently Asked Questions about Forced Auctions in Ticino

Why is TI so active?

A mix of market size, consistent scheduling, and demand for second homes – this ensures a steady supply.

Which properties are suitable for entry?

Condos with efficient floor plans, outdoor space, and parking; for houses, clear Capex plans and possibly partial rentals.

When to bid?

Utilize quiet summer months; peaks require strict upper limits and complete documentation (land register, STWE regulations, building encumbrances).

Conclusion: Top Returns with a System – Not by Chance

Ticino (TI) is the driver of Swiss forced auctions. With thorough due diligence, a yield value logic, and consciously utilizing seasonality, investors transform lakeside opportunities – from compact condos to selective premium properties – into reliable returns. Compared to Waadt (VD) and Valais (VS), TI maintains its leadership position – a strategic location advantage to be leveraged.