Kitzbühel is one of the most famous and exclusive ski destinations in the world. The Austrian winter sports resort near the metropolitan region of Munich is an attractive real estate location. Demand for holiday properties and second homes in the Kitzbühel region remains high. Due to the excess demand and the limited number of properties for sale, prices continued to rise over the first half of 2018. In prime locations, houses sold for up to 30 million euros. Europeans make up the largest group investing in Kitzbühel’s residential real estate market. The majority of buyers come from Germany, especially South Germany. Other prospective buyers come from Holland, Belgium, Italy and England. Domestic investors are predominantly from the Vienna area, or they are locally based property developers. It is only possible to acquire real estate in Kitzbühel as an EU citizen, so international investors from overseas only make up a very small percentage of buyers.
Among the most sought-after properties are those located on the Sonnberg at the foot of the Kitzbüheler Horn mountain. The Tyrolean-style chalet residences are particularly popular for their unobstructable views over the town and the World Cup ski race slopes Streif and Hahnenkamm. Residential properties on the Bichlalm, Lebenberg, Lutzenberg and Steuerberg are equally popular. Prices for homes in these areas range between 4 and 30 million euros. Another prime real estate location is the historic centre of the town. Freehold apartments here have seen a significant price rise in recent years, with prices reaching of up to 20,000 euros per square metre in 2018.
The limited availability of properties for sale in Kitzbühel itself has increasingly led to a move towards its surrounding villages. Places such as Aurach, Jochberg, Kirchberg, Reith and St. Johann all benefit from the close proximity to the centre. Residential prices here range from 1.5 to 5 million euros. Buyers’ most important criteria are a peaceful location, good sun orientation, mountain views and a high-quality interior.
The local ski lift company Bergbahn AG Kitzbühel regularly invests in the infrastructure of the skiing area. For this year a number of lift renovations are planned including the renewal of the important gondola station Fleckalmbahn. “Combined with the slopes in neighbouring Kirchberg in Tyrol, Jochberg and Pass Thurn, Kitzbühel boasts one of the largest contiguous ski areas in Austria. In recent years we have seen, that the entire region Wilder Kaiser has become increasingly popular with buyers. Thus places such as Fieberbrunn, Ellmau and Going, are also benefitting from the excess demand in Kitzbühel,” said Wolfgang Böhm, Licence Partner Engel & Völkers Kitzbühel.