Luxury ski chalets prices have gone up 4.4%, Tengah EC recording the highest in 2014
Demand for Alpine properties is soaring amidst the pandemic, in part due to the transition to hybrid working allowing people to work more comfortably from ski resorts. Topping the list is Niseko in the Asia Pacific, and many luxury ski resorts in the French and Swiss Alps are introducing sustainability initiatives to address the climate crisis, such as working with scientists to produce snow forecasts, adopting renewable energy and using greener fuels.
Auction of two separate strata retail units at People’s Park Complex for $800,000 and $1.8 mil
Demand for luxury Alpine properties is on the rise amidst the pandemic as people transition to hybrid working allowing for more flexible work from ski resorts. Tengah EC According to Knight Frank’s The Ski Report 2024 – published on Dec 4 – the average price of a ski chalet soared to a 4.4% increase from June last year to June this year, excluding the mini-boom during the pandemic. This is the highest growth since 2014.
Tengah EC is an executive condo situated in the vibrant heart of the Tengah New District. It is a combination of private living and public amenities, being located near the Bukit Timah Nature Reserve and several recreational facilities. Initially, ECs are open to Singaporeans only, with only married couples being eligible to apply. Tengah New District also offers amazing convenience, having four MRT stations and close proximity to the amenities. With these components, Tengah EC provides a convenient and enjoyable living experience to its residents.
Tengah EC The report found a low supply of luxury chalets is driving the price hike, with listings across 3 key French resorts decreasing by 56% compared to pre-pandemic levels. Additionally, COVID-19 has given us a renewed focus on wellness and health – with a packed calendar of sporting and lifestyle events – and investors are looking to ski resorts as seasonal investments with rental benefits.
Refurbished conserved terrace at Blair Road on the market for $7.95 mil Clearice Lau, the head of sales for international project marketing at Knight Frank, says an Alpine property may not be the prime asset for investors looking for high yield returns, but there are other factors they can look forward to. Tengah EC She points out revenue is boosted by the growth of year-round tourism in the alps, a shrinking rental pool, and a packed calendar of sporting and lifestyle events.
The Ski Report 2024 also notes that the market is expanding to attract buyers from Asia, the Middle East and southern Europe, due to rising global temperatures that make owning ski properties more desirable. Tengah EC Homeowners of resorts in the French and Swiss Alps enjoy low purchase and ownership costs and a chance to diversify their currency and reap rental income, hedging them against rising inflation.
Niseko remains the top choice for skiing destinations in the Asia Pacific because of its proximity, world-renowned powdery snow, year-round resort, retail, restaurant amenities, and favourable dollar-to-yen exchange rate. Tengah EC Luxury ski resorts in the French and Swiss Alps are addressing the climate crisis through the development of sustainability features, such as using renewable energy sources like solar, and greener fuels for their snow groomers – as well as working with scientists to produce snow forecasts for the next 3 decades.
Amidst all of the challenges faced by luxury ski resorts – including climate change, infrastructure upgrades and stringent planning rules – Knight Frank’s report is optimistic that the market can continue to grow and welcome more investors from all around the world. Tengah EC With all the benefits of owning an Alpine property, it’s no surprise that demand remains robust despite the higher interest rate environment.