Second homes in Davos and Klosters: Prices for top properties rise by 20 percent

Chalet ArosaAt premium addresses in Davos and Klosters, Engel & Völkers has observed price rises of up to 20 percent for prestigious holiday homes since the so-called second home initiative came into force. “People looking for a holiday home in these ski regions are particularly interested in high-quality equipment, a location close to the slopes, plenty of hours of sunshine and good views. Buyers pay exceptional prices if it means acquiring the exceptional,” said Jan Christmann, Managing Director at Engel & Völkers Davos.

The number of holiday properties coming onto the market in many Swiss ski resorts, including Davos, is set to become even more limited in future – as a result of the second home initiative, which passed into law in March 2012. This is due to the fact that the current proportion of second homes is already more than 20 percent, which is the maximum stipulated by the initiative. This means that currently no more new holiday homes may be built in the sought-after ski resort. Only those development projects where planning permission had already been granted are still going ahead.

This is leading to increased pressure on demand for second homes in such desirable locations as Mattastrasse, Palüdastrasse and Dischmastrasse, which were scarce in supply in any case. Klosters, Arosa, Lenzerheide and Flims Laax Falera also boast desirable addresses for second homes.

Up to 20 million Swiss francs for a chalet

The demand for holiday homes is exceeding the supply by far in all the aforementioned ski resorts, meaning that prices remain at a high level. The prices per square metre for freehold apartments in Davos and Klosters currently range from 11,000 Swiss francs (approx. 8,992euros) to 20,000 Swiss francs (approx. 16,350 euros) for homes in very good locations. Apartments with 2.5 and 3.5 rooms priced at between 850,000 Swiss francs (approx. 694,882 euros) and 1.5 million Swiss francs (approx. 1.2 million euros) are particularly sought-after, especially those that are close to the slopes with good accessibility. Classic chalets in peaceful and sunny locations like the Maranerhang in Arosa are equally desirable. In Klosters, Engel & Völkers brokered a chalet this year for approximately 9 million Swiss francs (approx. 7.3 million euros). Prices of up to 20 million Swiss francs (approx. 16.3 million euros) are also being paid for outstanding properties in absolutely prime locations.

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