The state of the market – ski property in the Alps 2024

Investors in Property sell more properties in more resorts than any other agent. We have over 360 properties in 50 resorts in Switzerland, France and Austria so we know the market very well. 

We are often asked these questions:

How is the ski property market performing now in 2024? 

The Alpine property market remains robust, with strong demand for high-end properties in the best-known resorts. Stock levels remain low in many of the best resorts, where it is increasingly difficult to find sites or get permits for new construction. Buyers tend to think long term and ski properties are passed down through the generations rather than sold. This is particularly so when prices are rising. Owners are hanging on to their properties, demand is increasing, and so are prices. 

Which country in the Alps offers the best investment potential? 

This year about 80% of our sales have been in Switzerland. Although the rules are much more flexible in France, buyers are attracted to Switzerland despite, or perhaps in part because of the restrictions. These have preserved the traditional charm of resorts such as Grimentz, Wengen and Saas Fee but the main factor is probably economic. The strength of the Swiss franc and the Swiss economy are important for investors. Swiss interest rates peaked a year ago and buyers can now borrow at less than 2% from Swiss banks. Long term rates are lower still so we are hopeful that rates will return to around 1.5% as they were for the decade before the pandemic.

Buyers living in the EU, and increasingly in the US are looking to diversify their holdings and invest in Swiss real estate. They are not permitted to buy in the cities, so they buy in the ski resorts and that demand drives prices up. The strength of the Swiss franc is legendary and these times of global unrest the Swiss franc continues to be a safe haven.

We wrote about this 4 years ago and the points we made then have been proven to be right - read here.

In which ski resorts are prices increasing the most?

The high-altitude resorts are the most resilient and are probably the safest bet but that does not tell the complete story.
Some lower resorts are performing very well and are bucking the market trend. Long-established, up market dual season resorts such as Megeve in France, Gstaad in Switzerland and Zell am Zee in Austria are in high demand and prices are continuing to rise.

The high-altitude resorts are outperforming the market, so Zermatt continues to hit new highs even though foreigners are not permitted to buy there. Other high-altitude resorts (where foreigners may buy freely) such as Saas Fee, Val d’Isère, Tignes, and Kaprun are performing well.  These resorts offer good rental potential as they have a long ski season, and some have summer season use too. 

Our experts advise and make their recommendations: 

Grimentz

This quaint, traditional village remains a favourite for its authentic ski-town appeal. Developments such as La Couronne and La Cordée are in high demand, offering high-quality residences with rental flexibility and upscale amenities like on-site spas and custom interiors.

Current Price per Square Metre: CHF 12,000 - 15,000

Wengen

Featuring the highest railway in Europe, dramatic views of the peaks, waterfalls and valleys, Wengen attracts visitors from all over the world. The car free village set at 1275m, is appealing to buyers who want to feel completely engulfed in the Alpine atmosphere and tranquillity. 

Properties in demand include Galliweidli, a two-bedroom apartment, and Chalet Gryfelweidli, a rare stand-alone chalet.

Current Price per Square Metre: CHF 10,000 - 13,000

Saas Fee

Saas-Fee ranks highly for property value, ski quality, and scenic beauty. With a charming blend of traditional chalets, high-altitude skiing, recently renovated hotels, and newly developed properties, Saas-Fee offers a great variety. Property prices average between CHF 8,000 and CHF 12,000 per m², with top-end properties selling for up to CHF 16,000 per m², still good value compared to Verbier where prices can go up to CHF 30,000 per m². The value for money here is outstanding, and even new build properties are available for foreigners. 

Our top three properties of the moment are The Peak, Chalet Mouton, and Jessica Penthouse. 

Current Price per Square Metre: CHF 9,000 - 16,000

Val d’Isère and Tignes

There are still new developments coming up in these two resorts and they are being snapped up despite the high prices as these are high altitude resorts with plenty of action, prestige and high-end skiing. Val d’Isère’s developments such as Les Chalets du Chevril and Tignes’ Cachemire offer high-end apartments with spa access, ski in/ski out facilities, and proximity to lifts.

Val d’Isère Current Price per Square Metre: EUR 20,000 - 43,500
Tignes Current Price per Square Metre: EUR 10,000 - 13,000

St. Martin de Belleville

This peaceful village has captured the attention of buyers this season, thanks to its enchanting traditional village charm and impressive altitude at 1450m. The village's picturesque streets and delightful local shops, create a welcoming atmosphere that feels like a home away from home. Buyers have been attracted to developments Chalet La Sarette and Rupicarpa.

Current Price per Square Metre: EUR 9,000 - 12,000

Chatel

Chatel appeals to buyers seeking lower price points and traditional French-Swiss village ambiance. The village bursts with French character and the surrounding working farms add to the authenticity of the resort. Les Loges du Pessat is the property of the moment, offering spacious chalets with private gardens and spa access.

Current Price per Square Metre: EUR 6,000 - 8,000

Zell am See

The village is set along the crystal-clear waters of Lake Zell and boasts a thriving après scene as well as an abundance of delectable restaurants. Zell am See is the resort for all ages and all skiing abilities. Luxury property options like Nikolaus and Kehlbachwirt, have been in high demand this season.

Current Price per Square Metre: EUR 5,000 - 8,000

For additional details on our properties, to organise a call/viewing or for more expert advice on the current state of the market, please contact us.