Border areas with international allure, picturesque landscapes that are often underestimated-these are just some of the reasons for a rising real estate market.
Often considered, in terms of real estate, a sort of “little brother” to other areas of Canton Ticino such as Lugano or Locarno, Mendrisiotto is proving in recent years to be a rising market with great potential in the short and long term.
We talked about this with Sarah Ferrari, director of Capifid Immobiliare, a company that operates throughout Ticino but has strong ties specifically to the Mendrisio district, starting with its operational headquarters, which is located in Chiasso.
What is the present state of the Mendrisiotto housing market?
Beyond stereotypes and comparisons with other parts of Ticino, the Mendrisiotto real estate market is functioning very well, and it is no coincidence that in the last five to six years many of my colleagues from the Lugano area have intensified their activity in this area.
In my opinion, the reason for the growth is related to a more thoughtful market that is able to target a diverse range of clients and offers numerous possibilities for all budgets.
It is not uncommon for even those who start their search in the Lugano area to then shift their focus to Mendrisio, Chiasso and the surrounding area to look for single houses and villas, because there are more green areas and the cities are more people-friendly.
Let’s also not forget the proximity to Italy (Como, Varese and Milan are really not far away) and Malpensa airport: so many of our clients often travel for business precisely by plane.
From a strategic perspective, how does the Mendrisio district's real estate market stand out?
For a long time, Mendrisiotto has suffered from media highlighting of difficulties, which are actually common to many other areas, while instead it is an area capable of offering something really interesting, to families and beyond.
Even at the level of second residences there are many municipalities with available quotas.
Looking at the reality of the Mendrisio area “from above,” one can then identify many old buildings that offer the targeted customer a chance to purchase and renovate with a good income in the building itself.
There are many clients from inland Switzerland who come to us and want to invest in these types of properties, which can be profitable right away and later lend themselves to renovation without that income being lost.
There is no shortage, of course, of those who simply want to buy a house or apartment, and the Mendrisiotto gives them the opportunity to do so at lower prices than, say, the Lugano area, or Sopraceneri.
How has the economics of buying property in this area changed?
In my experience, one can identify, here in the Mendrisiotto, a “band” ranging from 950 thousand Francs to 1.3 million Francs that we technically call the “gray zone,” that is, where there are many requests, but also where the client often has difficulties in bank financing.
Until a few years ago this feature of the difficulty of bank financing was certainly produced on higher figures, the economic and social evolutions of recent years have led to a different, more prudential banking approach, requiring greater guarantees related to the client’s affordability.
It seems then a paradox but the most important villas always have a market of their own by having the targeted clientele.
The Mendrisiotto region in particular offers homes resting on important land, which is also of great interest to the client wishing to be able to enjoy his privacy.
The value per square meter in Mendrisiotto is not comparable to that in the Lugano area, thus attracting a more diverse clientele.
Does today's market lead more to recovering existing properties or building them from scratch?
Considering a rather large time frame, more thought was given to building from scratch, but in recent years there has been a reversal in favor of renovations.
Mendrisio and its area are experiencing a period of great growth; there are several municipalities attracting the attention of those who want to come and live in Ticino.
The logic of renovation then also goes to meet a philosophy of property sustainability: there is often a need to restore value to beautiful but dated buildings, a need that goes beyond the economic argument, because renovating can cost, in some cases, even more than building from scratch.
How, then, do you see the attractiveness of the Mendrisiotto real estate market in perspective?
I think Mendrisiotto, as a real estate market, has great potential: more generally, the district is already capable of standing out in terms of cultural, artistic and even commercial offerings.
It is a border area, with a great history, and it has the advantage of being as close to the Lugano area as to Italy.
I was born in the Lugano area, which I love, but living in Mendrisiotto is really nice having a very welcoming and transparent social fabric: the handshake still has great value.
The scenic nature of Mendrisiotto brings in wonders hard to find elsewhere with its valleys and rivers.
Mendrisio and Chiasso also have an international aura being close to the border, interesting realities in this respect as well.
