Alpine Ski Properties Thrive In Property Market
News Posted On: 23 April 2014
A new report by international real estate agent, Savills, reveals that Alpine ski properties in Europe are facing an increased demand in the real estate market. The transaction and viewing numbers of ski properties climbed up by 200 percent during the first two months of 2014. Pices had stabilized after the fall of 2012 and 2011, and the number of transactions and viewings actually rose last year. The demand for ski properties has witnessed a steady rise in Switzerland and Austria.
Alpine properties in Switzerland, Austria and France draw in buyers
The analysis states that skiers who regularly throng Alpine destinations form a major portion of the buyers market. This is despite the fact that the ski trip numbers in the Alps during the winter have maintained a subdued note since they hit their peak values during the 2007-2008 period. While the numbers are nowhere close to the 700,000 trip values experienced during the peak, they are slowly beginning to pick up pace, boosting the buyers market.
Cyclists, walkers and outdoor enthusiasts who frequent the Alpine destinations during the summer are also drawn towards buying properties at these locations, and a growth in their numbers is thrusting the demand for Alpine properties even further.
Meanwhile, dual season properties like the traditional chalet are growing popular in Austria as they become more affordable amongst other properties. The low capital levels has allowed buyers to find themselves reasonable properties which generate good revenues. While Buyers from the UK dominate the Austrian property market, there has been an equal amount of interest shown from investors from Russia, Czech Republic and a few other CIS countries.
France reports a varied picture in its Alpine property pricing. Property prices in Courchlevel have stabilized at values 20 percent under their 2008 values, while those in Val d'Isere and Megeve have shown a sustained growth in prices for nearly five years leading up to 2013. While its UK buyer numbers have declined, French Alpine properties continue attracting Swiss investors as they stand to benefit from the weaker euro.
Stabilized environment in Switzerland aids ski-properties' buyer market
The report says that ski properties in Switzerland are drawing the attention of overseas buyers owing to a number of factors like the stabilized economic and political front and the lucrative fiscal environment, amongst others. The report reveals that a wide range of overseas buyers have shown their interest in the Swiss real estate market, reporting purchases made by Asian investors in Alpine properties.
Buyers from Singapore dominated the Asian buyer market, especially young buyers in the early 40s. Buyers from Northern Europe showed a sharp increase in their interest in ski properties in Switzerland.
The Savills report explains that there is a huge demand for rental properties in Switzerland. Renting a property in Verbier for merely three weeks annually can usually furnish its running costs for an entire year, says the report. Apartments have seen an increase in the demand in the property market as well, especially with those that are newly constructed. The newly developed apartment properties offer a variety of attractive facilities like wellness centres, parking spaces, concierge services and lifts, which is bringing in many prospective buyers.
Written by Les Calvert
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