As winter arrives, Knight Frank’s latest Alpine property market snapshot highlights the enduring appeal and stability of this unique investment sector, despite challenges such as Brexit, Covid, and climate change.
Reporting annually for 16 years, the agency emphasises the market’s adaptability to shifting buyer priorities and evolving regulations.
Key trends in the Alpine property market
1. Resilient price growth
Alpine property prices rose by an average of 3% in 2024, led by Courchevel 1850 with a remarkable 9% growth rate. Swiss resorts outperformed their French counterparts, achieving 3.5% growth compared to 1.5% in France.
2. Shift in buyer preferences
The traditional draw of skiing has been complemented, and in some cases overtaken, by a growing interest in health and wellness. Demand is increasing for properties that support year-round activities, such as hiking and wellness retreats.
3. Summer tourism boom
Chamonix reported a 46% increase in summer lift pass sales over two years, underlining the appeal of the Alps beyond winter. This trend has buoyed year-round tourism and property demand.
4. Policy and regulation impact
Governments are implementing stricter rules around holiday lets, energy efficiency, and planning. Measures such as Chamonix’s cap on short-term rental properties are reshaping the market, demanding more compliance from property owners.
5. International buyer influence
The strength of the dollar and expanded ski pass options, like Ikon and Epic, have attracted U.S. buyers. Global political events, including the recent U.S. election, have also heightened international interest.
The Alpine lifestyle advantage
Kate Everett-Allen, Knight Frank’s Head of European Residential Research, says:
“Through each turn, the Alpine property market has shown resilience. Demand remains high while supply is limited, supported by trends in flexible working, an increase in affluent early retirees, and a growing focus on health and wellness.”
Everett-Allen highlights the Alps’ transformation into a year-round destination, with health and wellness surpassing skiing as the top lifestyle driver for buyers. This broader appeal reflects an evolving market that caters to modern buyer preferences.
The road ahead
While the Alpine property market continues to thrive, tighter regulations and changing buyer priorities are reshaping its landscape. For investors, understanding these shifts—whether it’s focusing on year-round amenities or adapting to policy changes—is key to capitalising on the enduring allure of Alpine living.