Posted on 10 November 2012
As the winter season gets underway the Swiss resort of Verbia is proving to be very popular with those looking for an Alpine property, as it is one of the most sought-after ski resorts in the Alps. As the town’s profile has increased, so has the demand for luxury chalets and prices are increasing.
The price per square meter during the first quarter of this year averaged Fr.24,603 compared with 2003 when the average rate was around Fr.10,000 per square meter. This means the average price of chalets listed in Verbier frequently exceeds Fr.10 million.
The resident population of Verbier is somewhere around 2,500, but this can easily grow to around 30,000 during the winter season. The resort is popular with wealthy skiers from around the world, and especially amongst more extreme skiers as it happens to be home to the well-known black run of Mont Fort. Although best known as a winter resort, the local authorities are trying to expand its year-round appeal, and it now hosts a music festival every July.
Verbier tends to be popular amongst young skiers as snow is just about assured. It also has the advantage of being just two hours from Geneva, making it a popular destination for investors. Verbier is quite a sought-after destination, as it’s much easier to buy property here than in other resorts such as Gstaad and San Moritz where chalets are not only very expensive, but very rarely come onto the market.
In 2005 Switzerland experienced an influx of international buyers due to a relaxation on the sale of property to non-Swiss in certain tourist resorts. Next year will see the implementation of new rules limiting the number of new second homes to a minimum of 20% in Swiss communities, and this is expected to make property even more desirable.