Mountain highs: the Alpine resorts that outperform for property owners

First tracks: the Swiss Alps

Pole position in Knight Frank’s 2026 Mountain Property Price Index, a ranking of the percentage change in prime property prices in the past year, goes to the Swiss resorts of Davos (up 14.5%) and Andermatt (up 12.5%).

“Owning a home in the Swiss Alps is becoming a story of wealth preservation, not simply lifestyle,” says Alex Koch de Gooreynd, Knight Frank Partner and Swiss specialist. “Davos performed so strongly also because there has been a slight change to a Lex Weber ruling on renovating second homes there which has brought more property to the market, making the resort a little more open than previously. Davos also hosts the annual World Economic Forum which provides strong rental yields for owners. Andermatt, meanwhile, has no restrictions on property ownership and has spent significant money establishing an excellent infrastructure. The value there is interesting for many and demand is strong, yet, as the end of the development approaches, supply is falling, pushing prices up.” 

Stock levels remain the biggest issue for buyers across the Swiss Alps, notably in Verbier where prime prices rose 6.7% in the past year. “Verbier is easy to reach by train and road and offers easy access to high skiing with a strong summer season,” says Koch de Gooreynd. “Stock levels are so tight that prices have leapt up.”

Cortina d’Ampezzo: An Italian Olympic Star

After playing co-host to the 2026 Winter Olympics, Cortina d’Ampezzo saw prime property price growth of 10%, finishing in third place immediately above Verbier in the Mountain Property Price Index. While it remains predominantly an Italian market, international high-net-worth buyers are beginning to look to the Dolomites, spurred on by its starring role in the Olympics. The resort itself has seen a number of infrastructure improvements to the ski-area and to the village, with the planned 2027 opening of a five-star hotel from super-brand Mandarin Oriental further adding to the appeal.

The French Alps

Olympic fever is also a theme in the French Alps where preparations for the 2030 Winter Games are leading to €1 billion of investment across the region. The French market saw solid growth but here too, price growth is increasingly driven by individual resort characteristics rather than a mountain-wide boom, says Nicola Christinger from Knight Frank’s International Residential team. Leading the pack as top French performers on the Mountain Property Price Index were Courchevel Village, Courchevel Moriond and Val d'Isère, up 6.1%, 5.2% and 5% respectively. Prices in long-term favourites Chamonix, Les Gets, Megève and Méribel were unchanged year-on-year.

“Val d'Isère is a vibrant and attractive village with excellent skiing, good restaurants and true international appeal,” says Christinger. “Its fiercely loyal fanbase would not consider going elsewhere. As a relatively contained resort, it offers plenty of ski-in-ski-out properties and we’re seeing substantial investment from owners who are upgrading their homes.”

Courchevel Village (1550m) and Courchevel Moriond (1650m) link into the vast Three Valleys ski domain and provide a good value option to Courchevel 1850 and Meribel. “Look too at Courchevel Le Praz, the oldest of Courchevel’s four levels with historic chalets and a beautiful lake. Clients are broadening their search within Courchevel and these resorts are authentic, charming Alpine villages with access to world-class skiing,” says Christinger.