It’s so hot today here in Spain! So it makes me dream of one of my favorites winter activities – ski!
Now I may not be the most natural skier in the world and truthfully, my last visit to the Alps involved a lot more après ski, hot wine and a lot less, well, ski but those brilliant blue skies clashing against the bright white snow are just too good to miss.
What I discovered last time around, that I haven’t on previous occasions, is the difference a few miles can make.
Let me explain. The French Alps are my go-to. With resorts like Courcheval great for beginners and experts with a maze of lifts and loads of runs, it’s a fabulous place. When I say fabulous, I also mean expensive. As it is, skiing isn’t the cheapest of holidays what with ski hire, lift passes and so on and with skiing comes a lot of eating and drinking out.
So, this time round I was persuaded “around the corner” to the Swiss side and to Gstaad, a pretty village surrounded by the Bernese Alps. I definitely had my reservations, but the area’s charm won me over and got me thinking about what it would be like to own some of the property in this and other ski resorts.
With a little digging I found out it’s easier to buy a ski chalet or apartment than it is to buy a property in the bigger Swiss cities like Geneva, Zug or Bern for example. Why? Because you don’t need to have Swiss residency to do so.
In fact, this was something of a lightbulb moment and set me on a little detour into just how much it would cost to buy a ski resort property as an investment and how much you might make back. Let me run some figures past you. I should add that while I looked at the top end of the market, the figures bear out in the cheaper resorts as well.
Over in Veysonnaz, one of the smaller resorts in the Four Valleys ski area, a stunning six-bedroom chalet, close to the main slopes of this smaller resort is currently on the market for CHF 2.1 million or $2.14 million If this is a little on the pricier end of the market consider some of the smaller but equally as stunning chalets which feature ski in/ski out locations. Currently a three-bedroom ground floor apartment will set you back CHF 995,000 or $1.1 million.
Sill a lot, right? But what about if you’re going to be renting out these chalets for most of the year, what kind of return are you going to get back? Let me tell you this, a three-bedroom chalet will bring you in between CHF 4,000 and CHF 5,500 per week ($4,060 – $5,583) over the busy Christmas and New Year periods. Not a bad week’s work.
If, like me, hitting the slopes once a year is just the right amount, then buying an investment property is worth some consideration. The rush of conquering a mountain and of course all the fun of the après ski, will Switzerland be your next big investment?
All my best