The Alps’ year- round revolution
The pandemic transformed mountain living from seasonal escape to permanent lifestyle. Now smart investors are capitalising on Europe’s resilient alpine destinations
3 minutes to read
The alpine property market is rewriting the rules of luxury real estate. While many global prime markets slowed, ski homes have surged 23% on average in the past five years, cementing the Alps as one of Europe’s most resilient lifestyle and investment sectors. Our latest index results on page 4 provide more detail.
This momentum is fuelled by shifting buyer priorities: summer tourism has surged since the pandemic in key markets; remote working has broadened the appeal of full-time mountain living; and new regulations are reshaping supply and demand dynamics overnight.
As a result, the alpine property market is shifting from winter playground to year-round sanctuary, driving fresh opportunities across Europe’s most coveted resorts.
Cortina D’ampezzo: The Olympic Gem
Market contrasts persist. While Cortina d’Ampezzo commands €19,500– €21,500 per sq m and recorded 10% annual appreciation, it remains 30%– 40% below comparable offerings in St Moritz – a gap that the approaching 2026 Winter Olympics will inevitably narrow, creating one of Europe’s most compelling value plays. See page 6 for more on Cortina’s evolution.
Regulation And Infrastructure
Policy is redrawing the alpine map. Chamonix’s “one in, one out” second- home rule (explored in detail on page 16) has transformed supply overnight, pushing up premiums on properties with development rights, while land plots once prized for new builds are seeing a correction.
Meanwhile, infrastructure is elevating entire valleys. From Renzo Piano-designed gondolas at Les Grands Montets to a new high-speed rail connection that will cut travel time between Milan and Cortina to under three hours, the Alps are entering a new era of connectivity.
It’s Not All About Super-Prime
Prime French resorts range from €15,000 to €25,000 per sq m, while Swiss equivalents are CHF 15,000–CHF 30,000 (€16,100–€32,100). Buyers under €2 million still have entry-level opportunities – 44% of HNWIs surveyed say they would target homes below this threshold. See page 18 for a selection of top properties under €2 million.
The Climate Conundrum
Climate change is splitting the market, with die-hard skiers migrating to snow-sure higher altitudes while hikers, cyclists and wellness seekers are eyeing up year- round resorts like Chamonix, Megève and Zermatt.
Our new Alpine Sustainability Index ranks resorts on snow reliability and long-term resilience, vital information given that 73% of HNWIs in our Alpine Sentiment Survey (page 8) say they would now consider full-time alpine living thanks to flexible working, with the figure highest among millennials and Gen Z respondents.
Beyond The Big Names
Opportunities extend far beyond France and Switzerland. From Åre in Sweden (€5,000–€8,000 per sq m) to Zakopane in Poland (€4,500–€6,500 per sq m), Europe’s lesser-known slopes are emerging as cultural and financial alternatives for adventurous investors seeking early-stage markets.
Lifestyle Demand Reshaping Communities
Today’s alpine buyer is not just chasing ski slopes. Demand spans wellness hubs for retirees, adventure resorts for adrenaline seekers, and family-friendly towns with world-class schools. Verbier International School’s expansion reflects the shift to year- round, full-time alpine communities (see page 25 for more).
The Bottom Line: Alpine Property Is Now A Four-Season Investment
With ownership restrictions, rental laws and energy rules varying dramatically across borders, expert guidance is crucial. Yet the message is clear: alpine homes are no longer seasonal luxuries – they are resilient, year-round retreats combining lifestyle, stability and strong investment performance.
The coming years will be pivotal for the alpine market. The Winter Olympics, evolving regulations and rising summer demand are set to reshape pricing and investment dynamics. Our Alpine Team (see opposite) can guide you through the top resorts and emerging opportunities.