AUSTRIA HIGH ON PROPERTY INVESTORS SECOND HOME LIST

Ski season is in full swing. Alpine ski resorts are one of the most popular destinations for winter sports enthusiasts, accounting for over one-third of ski resort guests globally and it seems Austria is proving an attractive investment prospect.

According to a study on the global ski resort market by Laurent Vanata, Austria’s ski resorts received over 50 million visitors in 2017, 66% of which were foreign tourists, with almost half coming from Germany. Local resorts are constantly being upgraded – more than €7 billion has been invested in this sector since 2000.

A constant flow of tourists ensures high demand for property, while a shortage of land for the construction of new facilities is contributing to higher prices. According to Swiss financial holding company UBS Group AG, property prices in Austrian ski resorts have grown by 3.5% in the past three years – more than popular resorts in France (2.5%), Switzerland and Italy (in these countries prices are falling annually by 1% and 3% respectively).

Known as the cradle of skiing in the Alps, the ski resort of St. Anton am Arlberg is one of the most famous in Europe. Its area exceeds 50 km², and the total length of its pistes is 305 kilometres. The highest point is the Valluga mountain peak, located at an altitude of 2,811 metres.

According to UBS, there are only 1,800 residential houses here. There is practically no new construction being carried out in St. Anton am Arlberg, so property prices, at €9,700/m², are higher than the region’s average. In 2017, property prices grew by 8.2% – higher than in any other Alpine resort.

For another agent expanding its Austrian portfolio, Mark Warner Property, the ‘golden triangle’ of Zell am See, Kaprun and Saalbach is the bestselling area.

Zell am See, a resort that ticks many boxes, is positively cosmopolitan by Austrian standards, with some of its apartment complexes housing an array of nationalities these days. An accessible, attractive and truly dual-season town, it offers a (relatively) wide choice of resale apartments from around €170,000 upwards. Alpine Marketing is selling high-spec new contemporary Water Apartments there from €708,000.

Less touristy than Zell is nearby Bramberg, a fast-evolving ski resort with a high-end feel liked by some British buyers for its family-friendly and authentic village. Alpine Marketing have properties there or in nearby Neukirchen there’s a great new scheme of detached chalets with spa facilities from €700,000.