The property market in Britain is not the only one that’s hot. A new report suggests that even with travel restrictions in place and the Pandemic, wealthy buyers continue to buy homes in resorts.
Just like this, high demand drives the incredible growth of values.
Savills most recent ski report tracks 44 resorts around the world. The report found an average increase in property prices of 5.1 percent over the past year.
However, values rose 17% in some resorts like Flims or Grimentz in Switzerland.
This five-bed chalet is in St Gervais, in France’s Haute-Savoie region, and is on the market for €2.5m (£2.13m)
Based on the price per square metre (priced with euros), these are 20 of the best ski areas.
Following nearly two seasons of resort closures in most cases, there is now a lot of demand.
Jeremy Rollason, of Savills, said: ‘Only a few resorts such as Val d’Isère, Verbier and Morzine were seeing real price growth up until 2019.
“That is all changing with almost all the resorts in North America and the Alps experiencing double digit, sometimes even exponential price increases in a matter if months.
“The initial quarter of 2021 was extremely acute for demand,” he says. The transaction volumes increased by two-fold over last year, and there was fierce competition for prime properties in exclusive resorts.
“Property previously for sale for just a few months, or even years suddenly found buyers looking to get out of the city.
Aspen and Vail, North American ski resorts are at the top of the Savills Ski Prime Price League. Courchevel 1850 moved from third to first.
Aspen, which celebrates its 75th birthday this season, is predominantly a domestic market, with average values at around £25,000 per square metre.
Meribel has broken into the top ten price resorts with asking prices of around £13,800 per square metre.
Meribel, with its 200 lifts and being centrally located in the largest ski area of the world – Les Trois Vallees- Meribel is a popular choice for British and French skiers who are looking for a resort that offers both winter and summer.
This chalet in Chemin Des Cleves in Switzerland and is for sale for CHF6,000,000, the equivalent of £4.9million
Savills estate agents also examined the prospect of price growth in 10 major resorts
Savills claims that dual-season properties are now more important than ever for holiday home buyers.
According to an estate agent, international buyers still want to buy ski resort property despite restrictions on travel internationally. They are also quick to get back into the market once restrictions are lifted.
Some resorts were open early this week due to heavy snowfall. They hope they will stay that way throughout the season.
Chalets 1066’s Mark Nathan said, “We’re fortunate that Jean-Baptiste Lemoyne the French Minister of Tourisme said this winter that closing is not an option.”
“The snow conditions are amazing right now and we will open the slopes this weekend. This is a testament to how great the snow conditions are. The opening date for early opening was set for December 12. I was able to see the new snow up to my knees today.
This five-bed chalet is in Saas-Fee, Switzerland, and is for sale for CHF4,200,000, the equivalent of £3.4million
He stated that guests will have to provide proof of immunization to be allowed into restaurants, bars, and to purchase lift passes.
“There may be some random inspections in lift queues. Masks might be required in queues for lifts. However, these are not major points. We can all still enjoy skiing and mountain holidays.
“Our bookings have been the most successful in our 13-year history of operation.
“Over the last few days there was nervousness amongst the English, and a handful of other countries using the Omicron variant. But we now know that the Swiss will allow people on the way to France to land in Geneva before transferring directly to France.
“Overall we look forward to an exciting season of skiing.”
Rob Stewart is a ski journalist and qualified instructor.
“In French resorts the British skiers rank second in terms of numbers, and they are an integral part of their economy.
According to the report, “This winter’s snow seemed to have fallen quite quickly and has been in sufficient quantities. It’s also cold.” It is a great way to increase visitors. After last year’s terrible winter due to Covid, this winter seems very positive.
British skiers face many challenges, including nerves about changing travel restrictions and a lack of availability that are driving prices up.
“But, skiers who missed for at least one season will have these difficulties overcome in order to be able to return on the slopes.”
