St Moritz: a perfect holiday destination all year long

St Moritz: a perfect holiday destination all year long

The real estate market of the “Alpine metropolis” is thriving

 

St Moritz is a renowned luxury winter holiday destination, a true paradise for ski lovers. The “Alpine Metropolis” is famous for its well-equipped ski runs and resorts but the Engadine valley offers a sunny climate – it enjoys more than 300 days of sunshine a year – and is the ideal place for outdoor activities. That is the reason why it is also an ideal summer holiday destination. In July and August, it is possible to attend sailing courses on the lake, to make long walks in the woods, to go cycling, to sunbathe and to relax in the numerous upscale spas available.

Thanks to the great amenities offered by St Moritz and the astounding background of snow-covered mountains and idyllic lakes, the real estate market of the area is thriving. The supply of real estate properties in the most longed-for positions is limited and prices have soared, reaching 47 thousand euros per square metre.

Prices in the best-known holiday resorts in Switzerland are very high, but the demand of second-homes by investors coming from the United Kingdom, Italy, Germany and the United States of America is hot.

Suvretta – on the slopes of the 4,056-m Piz Nair massif – is one of the most requested areas. Here, villas and single-family homes can cost 23.5 million euros. Chalets and apartments in St. Moritz, instead, can be bought for 15 thousand euros per square metre.

Municipal authorities are trying to grant the purchase of homes at fair prices to residents by imposing some restrictions on the construction of new properties; moreover, new building plots of land are lacking in St Moritz.

The increasing demand grants the stability of the real estate market of St. Moritz. Crisis does not exist here. The rental market is also very successful. During the winter a three-roomed apartment can be rented for about 23,500 euros, but in the summer, holidaymakers can take advantage of highly attractive offers: the rent falls at 9 thousand euros.

Of course, the price changes according to the size of the property. The price for luxury four-bedroom apartments ranges from 78 thousand to 94 thousand euros per year in St. Moritz. These properties are not rented just for summer, usually. A 70-sqm apartment in Celerina – the sunniest spot in the upper Engadine valley – is rented for 2000 euros per month approximately; the rent of a 30-sqm first-floor studio in Champfèr amounts to about 970 euros per month, while a 120-sqm three-roomed apartment in St. Moritz with living room and kitchen costs 2 thousand euros per week.

Read also:

-         Switzerland: it is difficult for foreign investors to buy a home in St.Moritz

-         Road-racing lovers invest in Belgium

-         First-rate investments at low prices in Hungary

-         Scotland: Real estate market trend in Edinburgh and Leith

-         The revolution of house swapping

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