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Wednesday, February 21st, 2018

The luxury real estate sector in the canton of Ticino

Villa with lake views

In this new article, Ueli Schnorf and Philipp Peter, owners of the real estate company Wetag Consulting, discuss the luxury real estate sector of the canton of Ticino and why clients choose this region to live in.

The concept of luxury in the real estate sector

We know that luxury is not an absolute concept, but relative and evolving, which is perceived differently by everyone, everywhere. It is for this reason that, when we talk about the luxury real estate sector at an international level, the prices vary. For example, a villa situated in the famous Californian city of Beverly Hills, can be valued at 8 million dollars, while in Durban (South Africa) we can acquire one for 750.000 dollars. The position regarding Ticino is intermediate, with prices that start from 3-3.5 million of Swiss Francs.

Advantages of residing in the canton of Ticino

The buyers who choose the canton of Ticino as a place of residence or for holidays do it for all the benefits that it offers. Among these are, the good climate and its lush landscape with gorgeous natural areas such as, the Lake Maggiore and the Lake Lugano, but also other aspects like, the low crime rate, the economic and political stability and, its excellent health system. It should be mentioned that its infrastructures and educational services such as, international schools and universities are of a high standard.

Villa Wellingtonia- an elegant property in Ticino

Types of luxury real estate market

We should also distinguish between the different types of luxury real estate market. There is a primary luxury property market in major cities where people work and reside, such as, New York, Paris and London, another called “resort market” that comprises high end properties in touristic and holiday destinations as it could be the Caribbean islands and, lastly, the market known as “Jet Set or Life Style” with the most popular places to reside and enjoy holidays such as, Quinta do Lago in the Portuguese Algarve or Monte Carlo. The particularity of the canton of Ticino is that, in its three different regions, we can find these three markets.

Belonging to international real estate networks

Furthermore, in our case, we have the advantage of belonging to four of the most prestigious international real estate networks, which allows us to offer our properties to a wider range and variety of clientele. This requires a greater effort and professionalism, as we should know the profile of the potential buyer, their needs and their expectations perfectly.

Belonging to these international networks and to the annual conferences that Wetag Consulting attends, imply that we are up-to-date with the situation of the international property market, its evolution and its future.

Evolution of the luxury real estate market in the canton of Ticino

The political measures passed in previous years regarding the purchase of real estate properties by international buyers, the strength of the Swiss Franc in relation to other currencies and, the economic uncertainty that countries all round the world are facing, is not currently helping to increase the buying of properties and the confidence in Switzerland as a safe place for investment. Nevertheless, it is true that there is a gradual return of clients that had abandoned this sector, as is the case of German buyers.

The profiles of those investors who purchase properties in the Ticino canton, and in particular the foreign buyer, stand out for their attention regarding the true value of the property. They are well informed buyers on the real value of a property in order to avoid investments beyond the said value and risk losing profitability when reselling.

For the future, we believe it important to improve the measures that somehow limit the purchase of properties by of foreign clients, as well as the tax system. We cannot ignore the fact that other countries, with more favourable initiatives for this type of investors, have obtained more positive results.

Villa “Villalta”- generous size property in the Ticino canton

If you so wish, you can read our previous article in which Ueli Schnorf talks about the real estate situation of Ticino and the possible consequences of the opening of the Gotthard base tunnel.

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