Peak performers: the top Alpine ski resorts
As Knight Frank’s Alpine Property Report is released, we take a look at the leading resorts and why you should consider a move
Breathtaking scenery, fresh air and world-class skiing…the attractions of alpine living are endless. And, as Knight Frank’s new Alpine Property Report details, the benefits can extend to investing in property too. Despite economic headwinds the markets remained resilient, with property prices up 3% on average in the 12 months to June 2024, as demand remains high and supply limited. While the desire to access to the top pistes remains a given, buyers are also increasingly seeking out resorts that can deliver wellness and lifestyle advantages that have year-round appeal.
A (beyond) five-star experience
Leading the way in growth is Courchevel 1850 in France, which saw prices increase by 9%. “Courchevel 1850 really is the benchmark in terms of excellence,” says Roddy Aris, a Partner within the International Residential Department who looks after the French Alpine network. “It has a multitude of palace hotels (a level above five-star), a wealth of Michelin-star restaurants and luxury shops, and it really is a playground for the wealthy, where they have absolutely anything that they could dream of.”
This, of course, also includes the very best skiing. Along with Val d’Isère, which closely followed Courchevel with a 7% growth rate, the popularity of these French resorts is in large part down to their high altitude and snow-sure conditions. Properties such as this 5 bedroom chalet in Courchevel 1850 offers the best of both worlds, moments away from the slopes and equipped with high-end amenities including a spa area to relax afterwards. “The way people use their ski property has evolved a lot in the last 10 years, where it's gone from just a home next to some snow to actually being a home from home,” says Aris. “That's what Courchevel 1850 is offering. And Val d’Isere is fast on its coattails in terms of being able to compete at that level.”
Changing landscapes
With the impact of climate change shaping how ski resorts operate, how they respond will also impact both their longevity and appeal. “The resorts that we cover are the best in the mountains and, as such, they're constantly reinventing and rebranding themselves to face whatever challenges come their way,” describes Aris. It’s an area he notes where resorts such as Chamonix do well, its positioning within easy reach of Geneva also pulling buyers. “It’s a year-round destination, so not reliant on three months of snow. People use it as a mountain home, rather than a ski property.” This 3 bedroom penthouse is a case in point, its open-plan design creating a spectacular entertaining space.
Ones to watch also include Méribel. “The direction of travel it's taken in the last five years has been exponential. It's achieving new heights on a price per square metre that nobody thought would ever be attainable,” says Aris. Located in the heart of the Three Valleys, this low-rise resort has much to offer those seeking out the traditional chalet experience, with this 4 bedroom property the perfect example of its charm.
Year-round appeal
While Courchevel 1850 might have held the top spot, Switzerland’s Alpine markets outperformed, with average growth of 3.5% across 12 key resorts, versus France’s 1.5%. Meanwhile Gstaad commands the highest prices, at €41,500 per square metre. “We're seeing a lot of people buy property as a main home in places like Verbier, Gstaad and St. Moritz,” says Alex Koch de Gooreynd, a Partner at Knight Frank and specialist in the Swiss market. “It's these three big top resorts where people are fully relocating their families.” It’s a decision, in part, driven by the ever growing year round community but also due to the safety, stability and preferential tax arrangements available.
In Verbier, in addition to its well-regarded international schools, other infrastructure improvements are making the resort a desirable destination to live year round. These include enhancements to the train system to access the resort, alongside the arrival of the likes of members-only wine club 67 Pall Mall. This 6 bedroom chalet provides an impressive base, ideally located at the top of the Les Moulins piste. “What's really interesting is that if you look at the smaller resorts that have access to the same ski domain, they're not seeing the same level of interest. People are very much focused on that prime market,” says Koch de Gooreynd.
Ones to watch
Crans-Montana ranks top among Swiss resorts, up 7%. Similarly its excelling schooling makes it conducive to family life, with an active and engaged community even during the traditional off season. “Vail Resorts from the US has just bought the ski domain, so they’re spending a fortune on improving the actual skiing,” adds Koch de Gooreynd. “And it’s about half the price of Verbier. There’s a very compelling argument for people to look there.” This 4 bedroom apartment puts you within walking distance of the centre, while a short drive away you’ll find this spacious 3 bedroom chalet with stunning views across the mountains.
Another up-and-coming location, and another bought by Vail Resorts in recent years, is Andermatt. Here you’ll find properties such as this sleek 3 bedroom penthouse, with its Bauhaus-inspired design, offering the best of modern Alpine living. “They've spent a lot of time learning from other resorts. What do we have to do to try and encourage people to want to be here? And the newly opened high street goes a long way to change this perception,” says Koch de Gooreynd. “It's the only resort in Switzerland where there are no restrictions on how big a property you buy. It was a special dispensation the government gave to a developer there. So this is a project which is very interesting.”
