Where To Buy Property In Winter Ski Resorts
With COVID-19 and lockdowns, everyone almost everywhere experienced a year they’d rather forget. What was worse – vacations were cancelled. The good news is with high vaccination rates, lockdowns should be behind us, and people can start moving around again and book that all-important winter escape.
With summer too far away and Europe open to COVID-19 vaccinated travellers, it’s the Alps that are the dream destination. Die-hard skiers and non-skiers want to escape to a winter ski resort in Europe this winter.
European Ski Resorts
Usually, finding short stay accommodation in a popular European ski resort would be straightforward. Properties are either investor or privately owned, and most are available for rent during the year. However, with demand for rental accommodation expected to be at unprecedented levels soon, securing an apartment or chalet for short-term stays will be more challenging this winter than in previous years.
Why? The short answer is the pandemic. Disruption to European ski seasons was widespread by winter 2020 when COVID-19 infections started appearing throughout Europe and worldwide. Skiing vacations were cancelled with the enforced lockdowns preventing travel.
Homeowners and investors with properties in ski resorts had no choice but to leave their properties empty which meant that they had to forgo the income they’d usually get from vacationers to pay their property expenses, including:
- property taxes
- property insurance
- complex fee
Property investors rely solely on rental income to pay the annual outgoings associated with their apartment or chalet. For example, an apartment’s property maintenance and cleaning costs are calculated per square meter and range from €3-7 m/2 per month. The minimum price per month for an apartment of 600 m2 would be €180. Plus there are the other costs too.
Ski resorts have been popular with locals as soon as travel restrictions eased, albeit rental incomes were not expected. Investors and some homeowners have called it quit and listed their properties for sale. If you’re keen on a ski resort property, it’s a buyer’s market, so if the numbers work for you, maybe it’s the right time to buy a property in a popular ski resort!
Tough Times Over
Foreign travellers are being welcomed back to France and in Switzerland. They can come in on the French health pass. Property investors usually time their purchases right, and ski resort properties are high on their acquisitions agenda.
Homeowners keen to get back to normal and commit to regular winter ski holidays will also have more confidence in buying an apartment or residence in a popular ski resort knowing rental demand and occupancy rates will be getting back to normal soon.
Where To Look For a Ski Resort Property?
Let’s see where you could buy a ski resort property in Europe. According to a Skiingproperty.com recent blog post, some of the best resorts and locations to buy a chalet include:
- The Three Valleys
- Tignes and Val d’Isere
- Alp d’Huez
Everyone has heard of the famous Verbier resort of Switzerland. The good news is it’s not just the rich and famous who can get a foothold in its property market. There’s no denying there are some expensive homes with sales prices of £20m+, but there are also apartments for less than £1m too.
Another sought after resort is Alp d’Huez in France, where you’ll find many more properties for sale for less than £1m.
If you can stretch the budget a lot further, then a newly built apartment in a top resort like Val d’Isere will set you back £1.5m; however, you get the luxury and space. 120 sqm floorplan, and complex amenities including lounge bar, bike and ski rooms.
Ski resorts are popular all year round for outdoor pursuits from golf, hiking, mountain biking to skiing and attract holidaymakers for short term stays. Property owners can secure high occupancy rates to pay the ongoing annual costs and spend at the resort.