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One resort which is receiving a lot of attention across the Alps and indeed the entire world, is Andermatt. This small village has been transformed over the past decade into a thriving and exceptionally popular destination which is attracting ski enthusiasts and investors in equal measure. To find a bit more about this dramatic change, we’ve looked into the history, recent upgrades and reason behind the Andermatt revolution.
The Background
Investors in Property were the first international sales agent to be appointed to sell apartments in the new development in Andermatt. That was almost 15 years ago before the Chedi was built. The project was hugely ambitious; to regenerate a whole town after the army left. It was difficult to sell to start with but as the developer delivered on their promises, buyers started to see the huge potential of this resort.
As the first buildings were finished, work started on the infrastructure; the lift system was upgraded and linked to Sedrun, the golf course and concert hall opened, and the town became a resort. When that "tipping point" was reached, each new building sold so quickly that buyers were added to waiting lists. The early buyers have seen a good return on their investment and as the reputation of Andermatt continues to grow, there is more to come.
The Resort
A place where old-world alpine charm meets thoughtful modern development. The resort’s transformation over the past decade has been guided by sustainability and quality. You’ll find everything from Michelin-starred dining and luxury spas to a stunning 18-hole golf course and a brand-new concert hall, all wrapped in the majestic serenity of the Swiss Alps.
One reason for its popularity is its ease of access. From Zurich, there is a direct train to Goschenen which takes 1.5 hours, and you can then catch the scenic 10-minute Matterhorn Gotthard Bahn which will whisk you to the resort centre. From Lucerne the journey is the same, just 30 minutes shorter on the way to Goschenen.
If driving is more your style, you can travel from Zurich in 1.5 hours whilst the drive from Lucerne takes only an hour. Some of our clients like to arrive in grand style in a helicopter or perhaps a private shuttle from the airport, which is often a complimentary service offered by some of the more luxury hotels.
Once arrived in Andermatt, you will find yourself engulfed in dramatic peaks, pristine snow, and peaceful forests. Located as high up as 1444m, the resort is a pleasing combination of historic and quintessential Swiss charm blended with modern, high-end properties and developments.
For a night filled with culinary perfection, The Japanese by The Chedi serves nothing but excellence with its 2 Michelin stars and 18 Gault Millau points. For more of an authentic Swiss meal, we would recommend Restaurant Ochsen. Cosy, charming and traditionally Alpine, nothing beats dining here and trying their paprika fondue!
The bar and après scenes are thriving in Andermatt with a place to suit every type of person and interest. Di Alt Apothek at The River House is a great place for live music and more of a chilled vibe, whereas for more sophistication try out The Bar and Living Room at The Chedi.
The ski area offers 180km of runs in conjunction with Sedrun and Disentis. The slopes range from Gemsstock’s fantastic and exhilarating off-piste to Natschen–Oberalp–Sedrun’s sunny and gentle slopes for intermediates.
Benefiting from North facing slopes, Andermatt is one of the lucky resorts which gets to stay open well into May. Andermatt is also a true four-season destination. Come summer, the valley turns into a paradise for hiking, cycling, and golf. It’s a lifestyle destination, not just a ski resort.
The Investment Opportunity
Andermatt has fast become one of the most dynamic and rewarding real estate markets in the Alps—and for good reason. It’s not just the dramatic mountain views, the state-of-the-art infrastructure, or the world-class ski domain. It’s also the fact that Andermatt offers something increasingly rare in Switzerland: freedom and flexibility for international buyers.
Unlike most alpine resorts in Switzerland, Andermatt is exempt from “Lex Koller” restrictions. Foreigners can buy property freely here—no residency required, no quota limits, and no red tape. You can buy as many properties as you wish and you’re not locked in. Whereas in almost all Swiss resorts you must wait 5 years to sell your property, in Andermatt you can sell tomorrow if you want to. This open-door policy makes Andermatt a standout for international investors, particularly for those looking to diversify into the safety of the Swiss franc, one of the safest currencies in the world.
The market here has seen extraordinary momentum in recent years, supported by strong fundamentals and strategic investment. Between 2021 and 2023, the average price per square metre rose from CHF 15,000 to over CHF 19,000—a 27% increase in just two years. Total property sales surged accordingly, reaching CHF 154.4 million in 2023 alone. This kind of consistent year-on-year growth—15% in 2021, 17% in 2022, and 11% in 2023—is a testament to Andermatt’s growing desirability and tight supply.
Yet despite its strong performance, Andermatt remains competitively priced compared to elite Swiss resorts like St. Moritz, Verbier, or Zermatt. And with Switzerland’s interest rates among the lowest in Europe—and tipped to fall again—financing here remains extremely attractive. Combine that with a historically strong currency, and the value proposition becomes even more compelling, especially for USD- or GBP-based buyers.
Having sold in the resort for so long, we know everything there is to know. So if you’d like to discuss the resort, investment opportunities or anything in between, don’t hesitate to get in touch.
