_Top trends when buying a home in a ski resort
Exchange rates
It is estimated that 40% of homes purchased in ski resorts involve a foreign stakeholder, meaning exchange rates have an important bearing. For example, because of the weaker pound, a €2m chalet would cost a British buyer today £188,000 more than it would have done ten years ago.
Changes in climate
Over the past 120 years, temperatures in the Alps have increased 2°C, twice as much as the global average. Rain and snowfall patterns are expected to be affected by global warming and there is the potential for heavier but less frequent snowstorms. Technology in the form of snow guns and cannons are helping, and specialist machines are used to reposition snow to the most demanding pistes and it is because of this that in coming years, we will likely see more buyers target high altitude resorts to maximise their season length.
Property market regulations
Legislators are increasingly keen to increase transparency in the struggle to monitor/control who is buying what and where. One country that is imposing stringent rules to improve transparency is Switzerland. The French Alps faces fewer procedures, but close attention is being paid to the scale of future developments to ensure it is sustainable and sensitive to the Alpine landscape.
Importance of family time
Skiing in the Alps offers a family the opportunity for a day of combined fun and important family time unlike holidays on the beach, where the children often explore independently. Some of the world’s premier private schools are located in Swiss resorts and this appeals to international buyers seeking a home when visiting their children.
Investment in infrastructure
Keeping up with the next generation of skiers means that resorts cannot stand still. Villars has invested significant resources in reinventing its offer, for example, new gondolas and night skiing. In 2023, ahead of the FIS Alpine World Ski Championships, Courchevel and Méribel are likely to be key investment hubs.
Coming together
Vast domains are being created by Ski resorts joining forces, in an effort to attract more participants. Some have shuttle buses included in the cost of the ski pass. Others are linked by lifts and telecabines, France has over half of the world’s largest ski areas. For example, Three Valleys is the largest (At 600km) stretching from Courchevel to Méribel. In addition, for CHF500 a year, the new Swiss 'magic pass' offers skiers the option to travel further, providing access to 30 resorts and 1,000km of slopes.
Technology
It is now easier for a larger demographic to take up the sport. Technological advances are helping change the skiing landscape. From ergonomic boots and parabolic, curved skis to adaptive skiing for disabled individuals. Apps are now capable of following other skiers and measuring speeds. Heated gloves, air-bag vests and drones to track downhill help improve safety, comfort and personal bests.
Dual season
The Alps have capitalised on the push to improve fitness and health, making the most of the outdoors. Therefore, the days of buying a home purely for the winter are gone. Tourists in search of warmer weather now rival those in the winter months with a broad range of activities on offer, including hiking, mountain biking, abseiling and paragliding. An inexhaustible calendar of social, cultural and sporting events throughout the year, from Polo Championships to Jazz and Food festivals, also enhancement tourist and rental numbers.