Demand from affluent Middle East buyers for prime residential ski properties is growing, according to real estate firm Savills, with many countries in the region whose currencies are pegged to the dollar especially benefiting from the currency appreciation.
Read more: Leptos Estates have been building prime real estate for over 62 years
Guy Murdoch, French Alps Manager of Savills Ski said, “Potential buyers from this region [Middle East] tend to prefer chalets in more discreet locations within prime resorts, and usually, the preference is for brand-new properties, rather than from the secondary market. Interestingly, this is not always due to the financial incentives in place for new build properties in France, however, more on account of personal taste. Resorts, where there are various non-skiing activities on offer (spas, swimming pools, luxury shops, etc.), are the most popular […]. Switzerland is also alluring to Middle Eastern buyers, but it is more difficult to find the right product due to purchasing restrictions for non-Swiss residents.”
Demand for prime residential ski property has remained undeterred despite the impact of the pandemic on international travel. Across the 46 resorts tracked by Savills, prime residential asking prices grew, on average, by more than 20 percent in the last year and by over 30 percent since 2020.
Aspen and Vail take the top place in the Savills Ski Prime Index, with average asking prices reaching €38,500 ($40,882) and €37,900 ($40,250), respectively.
