Those looking to invest in property in Switzerland may be interested to hear that its best ski resorts are outstripping the property market as a whole when it comes to price growth
United Kingdom of Great Britain & N. Ireland (Press Release) August 31, 2007 --
Those looking to invest in property in Switzerland may be interested to hear that its best ski resorts are outstripping the property market as a whole when it comes to price growth, an expert on the industry with Investors in Property has said.
Simon Malster, a spokesperson for the firm, said: "In the last three or fours years the better ski resorts have outperformed by a long way the general market, so the prices in the hotspots have increased more rapidly than they would in towns in the valley."
This, as it happens, is no mean feat, because the market as a whole is attracting a lot of foreign investment. Earlier this month Reuters reported that wealthy overseas buyers are pouring into Swiss towns, fuelling a property boom to an extent which is causing serious concern in some quarters. The mayor of the town of Kuesnacht told the news agency: "The price of apartments is rising fast. You can't create more space so it's getting harder to find affordable places."
So if the mountains are outperforming the valleys below, it's not because the valleys are struggling. Despite the poor winter and its lack of snow, mountain resorts remain popular. Indeed, those which are higher up and thus more reliable when it comes to the white fluffy stuff are at an advantage in this respect.
One high place which is doing well, Mr Malster stated, is Canton Valais, which has "the highest concentration of mountains over 4,000 metres in all of the Alps. That is also one of the big driving forces at the moment."
There are certainly bargains to be had up here, he pointed out, not least in some of the less-heralded resorts: "If it is what we call one of the emerging resorts which is somewhere that is not a household name, then you find that they can buy a chalet at a very reasonable price and that is what they tend to go for," Mr Malster stated.
But its not just skiing and snowboarding that bring in the buyers. Perhaps prompted by the mild winter, the resorts are diversifying. Just as Scottish ski resorts are adding mountain bike circuits (Glen Shee being the latest, following in the footsteps of the Nevis Range with its world championship course), so the Alpine areas are adding activities such as hiking and mountain biking for the warmer months.
Thus the advice is clear: In Switzerland, look for the high-altitude, up-and-coming resorts with a commitment to developing a year round appeal. For here will be the coolest bargains in an increasingly hot market.
Simon Malster, a spokesperson for the firm, said: "In the last three or fours years the better ski resorts have outperformed by a long way the general market, so the prices in the hotspots have increased more rapidly than they would in towns in the valley."
This, as it happens, is no mean feat, because the market as a whole is attracting a lot of foreign investment. Earlier this month Reuters reported that wealthy overseas buyers are pouring into Swiss towns, fuelling a property boom to an extent which is causing serious concern in some quarters. The mayor of the town of Kuesnacht told the news agency: "The price of apartments is rising fast. You can't create more space so it's getting harder to find affordable places."
So if the mountains are outperforming the valleys below, it's not because the valleys are struggling. Despite the poor winter and its lack of snow, mountain resorts remain popular. Indeed, those which are higher up and thus more reliable when it comes to the white fluffy stuff are at an advantage in this respect.
One high place which is doing well, Mr Malster stated, is Canton Valais, which has "the highest concentration of mountains over 4,000 metres in all of the Alps. That is also one of the big driving forces at the moment."
There are certainly bargains to be had up here, he pointed out, not least in some of the less-heralded resorts: "If it is what we call one of the emerging resorts which is somewhere that is not a household name, then you find that they can buy a chalet at a very reasonable price and that is what they tend to go for," Mr Malster stated.
But its not just skiing and snowboarding that bring in the buyers. Perhaps prompted by the mild winter, the resorts are diversifying. Just as Scottish ski resorts are adding mountain bike circuits (Glen Shee being the latest, following in the footsteps of the Nevis Range with its world championship course), so the Alpine areas are adding activities such as hiking and mountain biking for the warmer months.
Thus the advice is clear: In Switzerland, look for the high-altitude, up-and-coming resorts with a commitment to developing a year round appeal. For here will be the coolest bargains in an increasingly hot market.
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