Knight Frank 2018/19 Ski Property Index Top Performing Resorts
Now in its tenth year, the Knight Frank Alpine Property Ski Index tracks the annual change in price of a 4-bed chalet across 16 French and Swiss ski resorts. In 2018, the average index dropped by 0.5%, which is an improvement on the 1.8% fall that occurred in 2017. What are the main trends we have seen over 2018 with regards to ski property prices?
The ski resorts showing the most growth in property value were in Switzerland.
This year, the Swiss resorts of Villars and Verbier topped the property growth value rankings with increases of 6% and 3.4% respectively. In recent years French resorts have topped the rankings, but Swiss resorts have seen a surge of investment in ski lifts, hotels, beginner areas and non-skiing activities which have boosted tourist numbers, buyer demand and therefore pricing.
It isn’t just the skiing that is attracting buyers to the Swiss resorts.
Home to three international schools, Villars is attracting a number of parent buyers looking for a base close to the schools. Verbier’s ease of access, broad range of leisure activities outside of skiing and solid offering of high-end bars, restaurants and boutiques offer buyers a luxe-mountain escape even if skiing isn’t their priority.
Of the 16 resorts monitored, 13 of them showed static or rising prices.
This shows a general upward trend of ski property growth value in France and Switzerland as three years ago, only 5 of the 16 resorts monitored showed growth in property value.
Although Villars and Verbier topped the property price growth ranking, other Swiss resorts have suffered.
The strength of the Franc has deterred many buyers who are opting to search for better value in Austria and France. There are also discrepancies between demand and supply in many Swiss resorts where large, older-style chalets are the norm but there is a demand for smaller apartments. This has been a factor in traditionally high-value resorts such as St Moritz where we saw a significant decline of 11.1%.
Val d’Isere was the best performing French ski resort of 2018.
Overtaking Chamonix as the best performing resort of 2018, its high altitude ensures greater snow reliability with a longer winter season. With more enquiries than any other French ski resort, the property value continues to grow as the supply remains constrained.
French resorts are showing steady growth with all 8 resorts studied showing static or rising prices.
The record snowfalls coupled with an improving economy, strengthening consumer sentiment and greater interest from Scandinavian and Benelux buyers has improved sales in the French Alps. Val d’Isere, Courchevel and Megève continue to build their name as luxury resorts, though it is the more affordable satellite villages (Courchevel 1550 and 1650, and Meribel Village as opposed to central Meribel) which are registering higher growth values.
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