June 30, 2025
The "City of Lights" is known for its Chapel Bridge, tourism magnetism, and stable housing demand, but few people know that foreclosures in Lucerne have become one of the most discreet yet profitable buying channels in Switzerland in recent years. Although the debt collection office reported only 10 officially published auctions in 2023 (≈ 2.4 cases per 100,000 inhabitants), the average quality of properties attracts a wide circle of investors.
Year | Foreclosures in Lucerne | Foreclosures in Switzerland |
---|---|---|
2021 | 13 | 854 |
2022 | 9 | 622 |
2023 | 10 | 644 |
2024* | ≈ 12 - 14 | 610 |
*Chart "Foreclosures 2024 by Canton"
That Lucerne remains under the radar in terms of absolute volume means fewer competing bidders and thus higher discounts: On average in Switzerland, bids start at 70% of the market value, in Lucerne, due to low competition, they often start at 65%.
The average market value of a condominium in Lucerne was CHF ≈ 826,000 in 2023, which is higher than the national average of CHF 742,000. If the property is called at 70% on the first call, the bidding window starts at around CHF 578,000, making it an extremely competitive price level for city locations like Tribschen or Neustadt.
The jump is even more impressive for single-family and multi-family homes: In 2022, Lucerne residential properties averaged CHF ≈ 2.12 million, placing second after Graubünden. Even a bid only 15% below market value saves over CHF 300,000 in capital, a margin that is hardly achievable on the classic listing market.
While Zurich offers more objects for auction (32 in 2024), the high number of bidders reduces the chances for discounts. In Vaud, property values (avg. residential property 2023: CHF 2.21 million) are still higher than in Lucerne, yet the demand for luxury vacation properties drives the prices upward. Thus, Lucerne positions itself between both extremes, high-quality, but not yet overcrowded.
Although Lucerne appears only in the rear ranks of the foreclosure rankings by canton, it is precisely this discretion that makes the market so exciting: high market values, reliable rental demand, and relatively few bidders create an ideal terrain for bargains with premium characteristics. Those who can manage processes, financing, and dates can secure prime locations along Lake Lucerne at mid-range prices in 2025, a privilege that classic listings can no longer offer.