Welcome to BuyAssociation.co.uk

Buying a Property in a Winter Sports Resort

Introduction

Not so long ago, skiing and other winter sports were pastimes reserved for celebrities, the royal family and the very rich, who frequented resorts like Gstaad and Klosters. In recent years, however, there has been a quiet revolution. The exclusive resorts are still there, but the expansion of no-frills airlines and the emergence of new, mass-market destinations, among them Eastern Europe, have made winter sports available to a much wider public.

Such is the worldwide popularity of skiing that new resorts are opening all the time, some in less-than-likely places. Even Dubai now has its own ski resort – surrounded by desert.

More than a million British people now flock to the slopes each winter, and the number is growing steadily. However, the cost of skiing holidays is still comparatively high, especially if a whole family goes together – another trend that is on the increase. This has led some to decide to buy their own ‘place in the snow’. Rather than choosing the traditional-style detached chalet, many are opting for an apartment in a new or developer-renovated complex.

Another inevitable consequence of the increasing popularity of skiing holidays (and the associated desire to economise on hotel costs) is a rising demand for rented accommodation in many resorts – good news for purchasers who plan to let their property when they themselves are not using it, or those buying purely for investment. In Europe, ski properties offer some of the best rental returns available, though this naturally varies with area and the type of property. In general, new-build and developer-renovated properties are among the highest earners.

Like any other property purchase, buying a home in a ski resort is a major undertaking and requires thorough groundwork. This fact sheet provides a place to start by suggesting some of the factors to consider. There are many resources to help with further research, among them television and radio programmes, books, magazines, the Internet and property exhibitions, as well as estate agents and developers, both in the UK and abroad.

Deciding where to buy

Start by deciding how you plan to use your property. Your requirements may vary depending on whether you want a second home for your own use during the winter, or whether you want to maximise rental income.

It’s all reasonably straightforward if you’ve fallen in love with a particular resort and want a base there, for your own use. If you haven’t yet decided where to buy, or are investing for rental income or capital growth, research will be necessary.

As with most property purchase, there is a delicate balancing act to be done by anyone with a less than A-list budget. A property with ‘ski in, ski out’ access in a high-altitude resort where first-rate skiing is guaranteed is everyone’s dream, but, in many areas, prices increase with altitude and you may find better value slightly lower down.

You may decide that the best way of maximising both your own enjoyment of the property and the amount of income you can earn from it would be to buy in one of the increasing number of all-season resorts. There’s more about this in our All-season resorts section.

Below, we look at some of the winter sports locations most popular with British purchasers.

Western Europe

Western Europe is traditionally the region of choice for Britons buying ski properties, France being the most popular country, thanks to its easy accessibility and the quality of its resorts. It is estimated that more than 70 per cent of homes in the French Alps are now British-owned.

Italy has also been popular for some time, and EU integration has opened up more possibilities to foreign buyers, who have only recently been permitted to buy property in, for example, Austria. Switzerland has also relaxed its rules on foreign ownership, but these vary from canton to canton, so be sure to check thoroughly if you’re considering buying there.

Surprisingly, Switzerland, generally seen as an expensive country, is widely considered to offer better value than France at the moment, and it is still possible to find traditional-style Alpine villages that are not too commercialised.

Western Europe’s popularity as a skiing destination has led to a shortage of suitable properties, which in turn has resulted in high prices in the most desirable resorts. However, more affordable alternatives still exist, with resorts a short drive from the slopes tending to offer the best value. Alternatively, consider a village close to a larger resort. You can enjoy all the atmosphere and facilities of the larger place, then retreat to the peace and quiet of the smaller one.

Take, for example, the exclusive resort of Gstaad and its smaller neighbour Zweisimmen, a traditional Swiss village. A chalet in Zweisimmen, only 15 minutes from Gstaad, can be acquired for half the cost of a comparable home in the larger resort, enabling the purchaser to enjoy all the advantages of a more intimate resort with easy access to the bright lights of Gstaad.

More pages

Page 1: Introduction
Page 2: Eastern Europe
Page 3: Maximising rental returns

Find your perfect villa rental with Villas4You over 500 villas across 20 destinations

The best deals on car hire in the UK, USA, Europe and beyond Alamo has the car you need at the price you want!

Discounted Airport Parking - available across the UK

Holiday home insurance from intasure - Click Here UK insurance for your property overseas

The best villa holidays from James Villas with our hand-picked villas and all the support you need in resort, we're the number one choice

www.holidaylettings.co.uk online advertising for home owners abroad