Property prices in prime Alpine ski resorts are increasing year-on-year as destinations respond to changing buyer preferences, with demand consistently outstripping supply.
According to Knight Frank’s recently published Alpine Property Report, property prices in the Alps’ most desirable resorts rose by 3% between June 2023 and June 2024.
“Since 2009, Alpine property values have shown strong resilience, with an average annual growth rate of 1.9% over 13 years, accelerating to 4% in the post-pandemic period,” reports Kate Everett-Allen, Knight Frank’s Head of European Residential Research. “In 2024, prices rose by an average of 3%, reflecting how the market has adapted to major challenges, including shifts in the economic and debt landscape as well as climate change concerns.”
In the elegant resort of Courchevel 1850—where Monte-Carlo Société des Bains de Mer is set to open its first mountain hotel, the Palace des Neiges, in 2026—prices soared by an impressive 9% in just 12 months, bringing the average price per square metre to €33,200. The resort remains the most expensive real estate market on the French side of the Alps, ahead of Val d’Isère, which saw a 7% rise in prices over the same period.
In Méribel Village and Méribel, listed separately in the report, prices increased by 3.9% and 3.8%, respectively. Meanwhile, at the base of Mont Blanc, Chamonix experienced a more modest 0.4% price increase.
In just three French resorts identified as prime markets by Knight Frank—Morzine, Les Gets and Megève—prices fell slightly, between –1% and –2%.
Across the border in Switzerland, key resorts such as Crans-Montana, St. Moritz, Gstaad and Verbier all reported price increases ranging from 7% to 2.3%.
Indeed, Swiss ski resorts covered by the real estate consultancy’s 2024 Alpine Property Report outperformed their French counterparts, with an average growth of 3.5% compared to 1.5% in France.
“The Swiss National Bank’s early rate cut in March bolstered buyer sentiment, highlighting Switzerland’s credentials as a stable, tax-friendly destination amid global policy changes,” notes Everett-Allen. “High international demand kept these markets competitive, supported by Switzerland’s unique winter offerings and stable economy.”
The price increases identified in the report reflect buyer sentiments gathered from Knight Frank’s survey of over 730 high-net-worth individuals (HNWIs) across 13 countries.
The survey results revealed that while properties in the Swiss Alps are the “top choice for property buyers”, the French Alps are not far behind.
“The French Alps remain a close contender,” explains Everett-Allen, “with buyers drawn to their unique charm and broader range of pricing.”
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Photo source: Courchevel Tourisme