Posted on 07 January 2012
Prices of luxury ski properties in Gstaad have reached record highs of up to €49,200 per square metre due to lack of supply according to local estate agents. Having been virtually untouched by the economic crisis, most of the people who own second homes in Gstaad are not being forced to sell up, rather they are happy to hold on to the appreciating assets in the safe haven of Switzerland.
Luxurious chalets are reaching prices of between €12.3 million and €32.8 million and surprisingly these homes are selling rather quickly when they come onto the market, often within a week or two, while the average for properties in desirable locations is 2-3 months. According to agents, while luxury apartments are the most popular property class, authentic farmhouses that have the potential for development are also very popular because of their relative rarity.
One of Gstaad’s greatest strengths — like so many of the top Alpine destinations — is its growing year-round appeal. Owners of second homes in Gstaad are able to rent out their properties all year round, which gives way to very good rental yields indeed. Apparently many of them use their properties during the summer months, when they enjoy the glorious views and long summer walks in mountains.
Many of the buyers come from Spain, Italy, Belgium and Greece, but there has also been an increase in enquiries from Germans, British, Austrians and Swiss nationals as well as Monacans. Many of the buyers are originally from outside the EU from countries such as Iran, but who now have their main home within Europe. They are also likely to already own holiday homes in southern Europe and are looking towards this sought-after and high-end ski resort for a trophy property.