Property prices in ski resorts are rising steeply
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Apartment prices are rising – not only for everyday needs, but also for leisure. In 15 great ski areas, the prices for condominiums in the second CoV year 2021 rose by an average of twelve percent – with a few outliers.
The square meter prices rose on average from 6,700 to 7,500 euros, according to a current data analysis by the real estate online portal ImmoScout24. The trend towards second homes has intensified during the pandemic. The rise in Kitzbühel, which was already expensive, was above average. There, the increase from 2020 to 2021 in the inserted prices was even 24 percent to 13,979 euros per square meter.
Prices are going up particularly steeply in Sölden (Tyrol) in 2021, with an increase of 59 percent compared to the previous year from 5,000 to 7,938 euros per square meter. The upward trend on the Katschberg (Carinthia) was similarly drastic, but from a much more favorable level, with an increase of 52 percent from 4,123 to 6,247 euros. The prices for staying in Carinthian Nassfeld have also increased by 38 percent – prices per square meter rose there from 4,100 to 5,659 euros.
Second home trend
There are also price increases in Ischgl in Tyrol, at EUR 8,437 per square meter, or an increase of 29 percent year-on-year (2020: EUR 6,548) and in Schladming (Styria) at EUR 7,631 (plus six percent). Property prices in the Tyrolean Alpbachtal have risen by 36 percent to 6,831 euros per square metre. Prices are below 6,000 euros in Flachau at 5,511 euros (plus 20 percent) and Kaprun at a stable 6,434 euros (both in Salzburg).
The square meter prices at Semmering on the border between Lower Austria and Styria are significantly cheaper at an average of 2,000 euros. “Sharp rising prices in the west make alternative ski areas more attractive. The trend towards second homes has increased significantly during the pandemic, which is why we assume that there is currently no end to the price increase in sight,” says Markus Dejmek, Head of Austria at ImmoScout24.
Reduction of prices in Saalbach and St. Anton
In some winter sports destinations, however, prices also fell. The average price increase of “only” twelve percent in the 15 ski areas examined is related to sharp price declines in some regions.
The domiciles in St. Anton (Tyrol) became significantly cheaper with minus 29 percent from 8,920 to 6,307 euros per square meter, in the Tyrolean Zillertal Arena with minus seven percent to 6,345 euros and in Saalbach-Hinterglemm (Salzburg) with minus six percent to 6,055 Euro.
