Engel & Völkers is recording new price highs for luxury residential property in Kitzbühel. In prime locations, exclusive residences in a traditional Tyrol style are currently on the market for up to 40 million euros. This can be attributed to a sustained high in demand within the market’s premium segment, which is met with an inadequate number of available offers.
“The lack of building plots in absolutely prime locations is the predominant reason for this shortage in supply,” said Wolfgang Böhm, Managing Partner at Engel & Völkers in Kitzbühel. New development in extremely desirable locations is restricted in scope, as the landscape reserves are limited by the very nature of the terrain. Another reason is that many areas have been designated for nature conservation. “With this lack of available properties, residential property at prime addresses is currently an attractive and secure investment with potential for appreciation in value,” Mr. Böhm added.
Prices per square metre of up to 15,000 euros in the centre of Kitzbühel
The most desirable properties in the winter sports resort of Kitzbühel include those at addresses on the Sonnberg like, for example, the Römerweg. The majority of the sought-after properties at the foot of the Kitzbüheler Horn mountain are country homes built in a traditional Tyrol style with unobstructable views of the resort and the finishing slope of the famous Streif ski run. It is only rarely that desirable historic properties such as these overlooking the Hahnenkamm mountain come onto the market. The residential properties on the Bichalm and in Kochau/ Aurach are also very desirable. Many well-known personalities both from Austria and abroad value the peaceful location here, as well as the views from the hillsides of the Kitzbühel Alps.
In addition, buyers are showing particularly strong interest in residential property in the centre of Kitzbühel. In the winding narrow streets at the heart of this historic town, freehold apartments with premium fittings, spacious ground layouts and parking facilities are in high demand. Prices per square metre of up to 15,000 euros are being paid for exclusive apartments at prime addresses. In other very good locations, prices per square metre range between 7,000 and 10,000 euros.