The Knight Frank Ski Property Index 2021 tracks the movement in price of a four-bedroom chalet across 19 resorts located across the French and Swiss Alps, with the addition this year of the Swiss resort of Champéry.
Covid-19 and the resulting lockdowns have significantly disrupted global real estate markets. The ski market has been no exception.
Homeowners are revaluating their lifestyles and working patterns, holiday plans are being upended and rental incomes have been depleted. But, this may also be the year when the health benefits of mountain living are brought into focus. The combination of fresh air, open space, recreational activities, good healthcare and reliable WiFI makes alpine living in our three ski markets – France, Switzerland and the US – an obvious choice for those individuals seeking shelter from the pandemic.
The question is whether we will see a redistribution of value from urban to resort locations as a result of Covid-19. The Knight Frank Ski Index on page 4 gauges what impact the crisis has had on property values to date and which resorts are displaying greater resilience. The pandemic has meant resorts both side of the pond missed out on their lucrative Easter season and on pages 6-7 we reflect on a rollercoaster few months which saw rental demand recover over the summer as staycationers headed to the mountains.
Clearly, there are challenges ahead in reopening the resorts this season and our summary of the measures being employed on page 7 underline how seriously the resorts are taking their responsibilities. For ski homeowners wanting to stay ahead of the game, we highlight five trends and events that look set to shape the market and, with 90% of our clients now opting to rent their home, we crunch the numbers on page 8 to understand what return owners can expect.
A deep dive into Colorado’s property market on pages 12-13 surprises on the upside with Aspen Snowmass concluding over $2.6bn of sales in the first nine months of 2020, up from a total of $1.9bn for the whole of 2019. Finally, for those seeking the next skiing hotspot, our local experts provide a roundup of the resorts they think are tipped for growth on pages 14 and 15.
Download your copy of the Ski Property Index 2021.