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Coronavirus effect: Real estate dealers in southern Switzerland are seeing record demand, especially from German-speaking Swiss. But there are also interested parties from abroad.
Real estate is particularly popular in Ascona.
Making an appointment on short notice is not easy. “I am fully booked for the next two weeks,” says Petra Viel. She is deputy director and commercial director of the real estate group Multiresidenza in Locarno-Muralto.
And you have to deal with the flood of clients who are interested in a property in Locarnese. They are mainly German-speaking Swiss. Half of those interested are looking for a second home, the other half a main home. “Ticino creates a Mediterranean attitude towards life, that is what is in demand at the moment,” says Ms Viel.
Because as a result of the corona virus, many German-speaking Swiss would be afraid to travel to Italy or other southern countries. Anyone who has toyed with the idea of buying property abroad has put these plans aside in the wake of the coronavirus, closed borders, and travel restrictions. “The way the Ticino authorities mastered the acute phase of the crown crisis was also impressive,” said the real estate specialist.
It sounds a lot like Claudia Tresch. The woman from central Switzerland has been the director of Engel & Völkers’ Ascona office for 17 years. “It’s incredible: in March and April we all had existential fears here, the square was empty.
And now we are working harder than before, ”Tresch says in the representative office building on the lake shore. Twelve employees work there. Real estate sales have increased by 50 percent and prices have even risen as a result of increased demand.
Attractive Switzerland as a “safer haven”
Properties between 800,000 and 2.5 million francs are in particular demand: “With very expensive luxury properties, there is more shutdown.” Buyers come in advance from German-speaking Switzerland, from cities in the cantons of Zurich, Zug, Basel-Stadt and Aargau.
Ticino is attractive: it is not a city, but neither is it a province. With cultural offer. And above all a pleasant climate. Tresch is in awe: not only those over 60 respond, but also the youngest.
Interest would also come from Germans who value Switzerland as a “safe haven” in these uncertain times. Entrepreneurs were impressed by the Swiss Confederation’s non-bureaucratic way of distributing Covid loans.
Because of Corona: focus on larger apartments
In Switzerland, the demand for larger apartments has increased in recent months. This can be interpreted from the figures of the real estate platform Immoscout24. While interest in smaller apartments is declining, larger apartment categories have a proportionately larger increase in search queries.
One-bedroom apartment search inquiries were down 18 percent from a year earlier. At the same time, the 4.5-room apartment rose to second place among the most popular apartment sizes. “We are seeing a clear shift in interest to larger properties,” explains Martin Waeber, director of Immoscout24.
The share of 3.5-bedroom apartments has increased by four percent and 5.5-bedroom apartments by up to 14.7 percent. The largest increase was registered in apartments with six or more bedrooms. They are searched 29 percent more often than in 2019. Waeber sees the reason for this development in the aftermath of the crown crisis. Since the beginning of the year there has been a trend towards increasing interest in larger apartments.
“Since the closing, however, the change has been extreme and continues,” says Waeber. People spent more time at home and cared more about how they lived. Also, the home office has become more popular. That needs more space. (ROM)
“Therefore some Germans are considering moving their business activities to Switzerland.” And if you were thinking of emigrating from Germany to Mallorca, you discovered an alternative during your holidays in Ticino. The southern canton is literally assaulted by tourists this year.
Giancarlo Cotti, owner of the real estate Assofide SA in Locarno, also sees a “substantial increase in demand”. It specifies: “It should include a small garden or a larger terrace, as well as two bathrooms.” The indoor area could be smaller, but the opportunity to get outside and be outside is very important.
Several clients could imagine living in Ticino for the long term. Therefore, a property could be considered as a primary residence. Real estate agents benefit from this, because the availability of second homes is limited, an effect of Lex Weber, which limits the supply of second homes to 20 percent. This has long been the case in popular tourist communities like Ascona.
It is possible to travel to German-speaking Switzerland
Although real estate agents exaggerate the demand, individuals also confirm the development: “In two months I sold four apartments that I could not get rid of in two years,” says a businessman. The client? All Swiss Germans.
A couple decided to move to Ticino. The husband will only work in Zurich for two or three days; otherwise, at the head office in Ticino. Thanks to the Gotthard base tunnel, this train journey is quite possible. We also learned that Italians were interested in Ticino.
The deciding factors are the extreme restrictions during the acute phase of Covid in Italy and, unlike in Italy, the good Swiss healthcare system. However, not many Italians can afford an apartment or even a house in Ticino.
This summer it became clear that the crown crisis has a direct impact on the housing market. Residents searched for housing outside the centers during and immediately after the closure. The Immoscout24 portal registered a record number of visits.
The real estate consultancy Wüest Partner evaluated the real estate search subscriptions of the main Swiss Internet portals. They register a massive increase in search queries for living spaces in vacation areas, small and medium-sized cities and the regions that surround them.
The most notable were inquiries for municipalities in tourist regions such as Valais or Graubünden. However, these were generally “rental properties”, apartments or houses, as specified by Fabio Guerra from Wüest Partner AG.
