Austria Alps started the new ski season with focus on affordability

The developers in the Austrian Alps prepared for the new ski season, with an emphasis on affordability.

There is a climbing interest in more affordable ski investments from British buyers facing higher costs in the wake of the UK's Brexit vote.

Indeed, property prices are up to 50 per cent lower in Austrian than in the Swiss and French Alps and yields are higher, which means the country is challenging the others as a ski property destination.

“Developers have responded to Brexit uncertainty and the fall in sterling by launching a range of much more affordable ski chalets.

Another recent upgrade, following the local authority's investment of €20m last year, is a new high-speed 10-person gondola, giving access to 347km of skiing. This makes Fieberbrunn one of the world's largest ski areas and bodes well for local tourism, which has already seen a 9 per cent uplift in the last year.

Over the last 15 years, more than €6billion has been spent to ensure Austrian resorts have the most updated lift infrastructure and resort amenities in the industry.

Austria has already proven to be a sound investment for those looking to own a ski property

The country's strong domestic economy and record low interest rates have resulted in a national house price growth of 41% since 2008, compared to falls of 0.9% in France over the same period.

Austria's ski properties are still up to 50% cheaper than resort property in the Swiss and French Alps, triggering a growing interest from savvy UK buyers. In the last two years, there has been a 12% increase in the number of UK buyers searching online for 'property in Austria' (source: Google Trends) driven by more reasonable prices and higher yields versus French and Swiss properties. A 4% year-on-year increase in UK visitors to the region is also a factor."

15 Dec 2017

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