The cold facts about your Lugano real estate investment
On 8 September 2016 the Swedish Swiss Chamber of Commerce organised an event on the above topic hosted and sponsored by UBS and Wetag. Marc Genova, Head Corporate and Institutional Clients UBS Ticino, and Ueli Schnorf, Owner, Wetag Consulting, presented two views of the real estate market in Ticino.
Mr Genova presented some very interesting statics. The interest rates being so low have resulted in an increase in house prices since 2010 with a stagnation for the last 18 months, due partly to the strong Swiss Franc and a lower demand. The prices in the rental market have not increased as much as the buying market, resulting in an increase of unoccupied rental homes across all Switzerland, pushing down the prices further.
Mr Schnorf, expert in the luxury real estate market, took us through the evolution and trends in the luxury market. Since 2007 the asking prices have gone up to unrealistic levels and we can now see a correction in the market with lower prices even for the luxury segment. Attention to value has increased since 2013 with buyers being more difficult when choosing a property. It has to be perfect with all the newest features!
The event was well attended at UBSs offices in Lugano arising in good discussions and networking opportunities.