Savills Ski Report: Ski property is booming worldwide

According to the latest report, average prices for prime real estate in the ski resorts surveyed have risen by 150% over the past 20 years. Switzerland stands out as the most stable market: prices rose by 7% within one year and by 20% over five years. Growth over the past ten years has been comparatively moderate at 19% and reflects the maturity of the market. Over the entire 20-year period, however, Swiss ski real estate has almost doubled - with an average increase in value of 94%. In the United States , the picture is more dynamic and volatile. While the short-term figures are negative, medium- and long-term data show a positive trend: within ten years, prices rose by 84%, and over 20 years by a remarkable 228%.

France, on the other hand, has experienced a turnaround. Despite a 10% drop in prices last year, which is likely related to the general economic weakness in Europe, the growth of 31% over the past five years and a 58% increase over the past decade points to a strong recovery and renewed investor interest. In 20 years, French ski real estate has increased in value by 197%, ranking second only to the United States.

Austria has recently faced headwinds, recording an 11% drop in prices last year and a 7% decline over the last five years. With growth of 34% over ten years and 95% over 20 years, the long-term development is solid, but rather modest compared to other countries.

"Despite ongoing economic uncertainty, markets for prime ski property have proven resilient, with average prices in the segment rising 3% over the past year," comments Kelcie Sellers, Associate Director, Savills World Research, adding: "Although prices remain 4% below their 2022 peak, they are still 12% higher than in 2021 and 27% above pre-pandemic levels."

Aspen leads the Savills Prime Price League for the fifth year in a row, with average asking prices currently above 35,000 euros per square metre, closely followed by Val d'Isère (32,500 euros per square metre) and Gstaad (30,700 euros per square metre).

Aspen also maintains its top position in the ultra-prime price segment. For the seventh year in a row, the U.S. ski resort leads the Savills Ultra-Prime Price League, which examines the top price segment of premium real estate at each ski resort. The average top prices offered there now reach around 68,900 euros per square metre. Swiss ski resorts continue to dominate in the ultra-prime segment and account for around half of the top 10. Gstaad is at the top with average top prices of 51,500 euros per square metre. French resorts are also strongly represented, accounting for a third of the ranking, led by Val d'Isère and Courchevel 1850.