Do you want to live in the snow? Get your wallet ready a job

In Aspen, the most expensive and emblematic ski resort in the United States, prices for luxury homes reach $125,000 (about 114,000 euros) per square meter. It's easy to find homes in this area Refuge From Colorado, which sold for more than $25 million. At St. Moritz station in Switzerland, prices per square meter reach 100,000 Swiss francs, or about 106,000 euros.

Home purchases in the world's major snow destinations are holding up in a more hostile economic context driven by rising interest rates. According to consulting firm Savills, average house prices prime minister Among the top 20 stations were down 4% over the year. However, prices at the most premium stations remain 20% higher than 2021 levels, and are 41% higher than pre-pandemic values.

The highest altitude resort in the Swiss and French Alps—St. The 1850 towns of Moritz, Val d'Isère and Courchevel – and the year-round buildings – Chamonix and Verbier – are best placed to meet the demands of new buyers. “Investors are prioritizing locations where ski seasons are longer and snow is guaranteed, as well as places with a broader mix of ski-related activities,” Knight Frank warns. It seems clear that climate change and uncertainty about future natural snow conditions will challenge the ski business in the short term.

Although Spain does not have Aspen or Alpine resorts and is not on lists of top international ski and snowboard destinations, it has a thriving housing market. Ernesto Ferrer-Ponsoms, business manager of Solvia Real Estate, points out that it has “experienced remarkable growth in recent years, despite the limited supply of properties in these areas and the restrictions imposed on the implementation of large construction projects due to the uniqueness of its location.”

At consultancy CBRE, they believe that high demand is based on four pillars: “investment opportunity as a second home, great rental returns for skiing and backcountry tourism, value of resorts in the most popular ski resorts, and demand for skiing.” Locations. “Rural areas by remote workers.”

Evidence of the investment interest is the tourist homes that have sprung up in snowy destinations. In Panticosa, in the heart of the Aragonese Pyrenees, there were 88 houses in holiday use in 2020, and according to the latest data from the National Institute of Statistics, as of February 2023, there are 142 houses. The same thing happens in the more relevant ski towns in the Catalan Pyrenees or the Sierra Nevada. Seven years ago, there were 42 tourist homes in the La Gacitanía region of Huesca province, and the number now rises to 448.

The profitability of these properties ranges on average between 8% and 11% annually, according to Ferrer-Bonsoms. The number depends on the location, type of house and season. In winter, this performance increases. Although, unlike other holiday destinations, snow resorts offer the advantage of a dual season (winter and summer), allowing visitors to do other activities, such as hiking or snowboarding. “Its popularity extends throughout the year as it is found in distinctive natural environments. This is due to the growing interest in rural tourism and outdoor activities, which leads to a continuous increase in demand for properties in these areas. This diversity gives the saver profitability after the winter.

Andorra and Baqueira Beret

Fotocasa studies show that the demand for second homes has increased and reached its highest levels since 2017. The real estate portal includes Andorra in its analysis and concludes that homes close to the ski slopes in Andorra in Ordino Arcalis, Valnord-Pal-Arinsal and Grandvalira are also good for Baqueira-Beret. (Llida) is the highest priced destination for the second year in a row.

In Ordino Arcalis, the most expensive station in the Andorran Pyrenees, apartments cost €5,016 per square metre, and single-family houses reach €4,446, representing a 15% increase compared to the previous year. The offer ranges from small apartments to large chalets and buyers are looking for two things above all. “Proximity to ski resorts is essential, they want to be able to easily access the slopes without having to travel long distances; Views of the mountains and snowy landscapes are highly appreciated by buyers, says Josep Luis Estroja, director of Engel & Völkers Andorra.

Properties in Baqueira-Beret, in the Catalan Pyrenees, are also becoming more expensive. Apartments cost €3,838 per meter (an increase of 22.5% year-on-year), and houses cost €3,319, an increase of 8.2%. An example of what the market offers: a semi-detached house in the Val di Ruda urbanization, next to the cable car access, with an area of ​​320 square meters and four floors, is sold for 2.7 million euros.

However, there is another formula to become an owner on these tracks without incurring such expenses. Shared ownership arrived here last year, meaning getting a home for a fraction of its value. Vivla has put six exclusive homes on the market in Baqueira-Beret – two fully sold and two others half sold – and plans to reach ten in March and expand to La Cerdanya (Lleida). Its price ranges from 600,000 to 1.4 million euros, and the price of one portion (sold in eight parts) ranges from 75,000 to 175,000 euros.

If the numbers are still unclear, we should head to Javalambre (Teruel), the cheapest ski resort, where houses are priced at 381 euros per square meter, according to Photocasa, which estimates that prices have fallen by 28% in one year. They are followed by Manzaneda (Ourense) and Valgrande-Pajares (Asturias), which sell for 387 and 482 euros per meter, respectively.

As for rent, Baqueira-Beret, where there are 636 tourist houses, is the station with the highest price again: 38.6 euros per square meter per month, which represents an increase of almost 9% compared to the previous season. “The average rental price on New Year's Eve or Easter can reach 7,000 euros per week, and seasonal rentals range between 14,000 and 18,000 euros per month,” they point out at Vivla. Meanwhile, the cheapest rents are in Puerto de Navacerada (Madrid), where the rent is €8.3 per square meter, and in Valdeschi, also in the Madrid region, at €6.3.

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