The winter destination Aspen attracts a large number of stars to its ski slopes in the US state of Colorado every year. Demand from buyers for holiday properties and second homes is met here with very limited availability. “Aspen is the winter playground for the world’s wealthy jet set and very popular with affluent buyers. In 2019, we expect to see stabilization in prices after many years of steady growth,” said Erik Berg, Managing Partner and Private Office Advisor at Engel & Völkers Aspen.
The highest priced addresses in Aspen include Red Mountain, West End and the centre of the resort. In 2018, the average price for detached properties and chalets in these areas was 6.1 million US dollars (approx. 5.3 million euros). If everything is right in terms of location and appointment standard, prices of up to 22 million US dollars (approx. 19 million euros) are being paid in some exceptional cases. High-end apartments reached prices per square metre of up to 5,600 US dollars (approx. 4,900 euros). Clients are drawn by the unique location at the foot of the Rocky Mountains, as well as by the distinctive architectural style of the resort. “Brick townhouses and Victorian-style mansions give Aspen the flair of an authentic Western town. This attracts both US clientele and international buyers from Europe, South America and Australia,” Erik Berg revealed.
Residential luxury real estate in Aspen continues to be an attractive and stable investment. Affluent clients are particularly drawn by the privacy on offer here, and amenities like nearby landing sites for private jets. “Gourmet restaurants, luxury boutiques and first-class spas all contribute to the undeniable appeal of this exclusive ski resort,” said Erik Berg. Engel & Völkers forecasts that addresses at Snowmass Mountain and Starwood are locations where buyers can expect more value than in the existing premium priced areas.
(Image source: Engel & Völkers Aspen)