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Zermatt: Prices for exclusive ski properties on the rise

At the foot of the famous Matterhorn, the Swiss resort of Zermatt is an exclusive and sought-after ski destination. As a result, top properties here are highly desirable. “Demand far exceeds supply, with prices rising again in 2018 compared to the previous year. For 2019, we expect further price increases in the luxury segment,” said Marieke Amacker, Sales Director of Engel & Völkers Zermatt.  

Sant Just Desvern - Luxury properties in Zermatt's top residential areas are recording rising prices. The tourist destination is attracting domestic buyers in particular.
(Image source: Engel & Völkers Zermatt)

70 percent of buyers reside in their property themselves

Among the most exclusive locations in Zermatt are Petit Village, Winkelmatten and Steinmatten, as well as the centre of the village. Detached houses and chalets with premium finishes and views of the surrounding mountain panorama fetched prices of up to 25 million Swiss francs (approx. 22 million euros) in 2018. Freehold apartments at prime residential addresses reached top prices per square metre of up to 26,000 Swiss francs (approx. 23,000 euros). Especially desirable are second homes with three to four rooms, and penthouse apartments. “70 percent of our buyers use their property themselves. But Zermatt is also a very attractive market for investors. The high demand for rental properties promises good returns,” said Marieke Amacker.

National buyers dominate the market

Due to the “Lex Koller” legislation, international clients are prohibited from buying real estate in Zermatt. Exceptions are individuals holding the right permanent residency permit. The majority of buyers come from western Switzerland, with a primary residence in the Geneva area. “We are currently seeing an increase in the number of search clients from German-speaking Switzerland, especially from Zug and Zurich,” said Marieke Amacker. Foreign prospective buyers often choose to rent a property on a permanent basis.

Outlook: New, sought-after residential areas are emerging

Zermatt’s reputation as a sustainable tourist destination and its snow guarantee, which is important to winter sports enthusiasts, means that visitor numbers remain high. Here, excellent sporting conditions are combined with top restaurants, wellness and spa facilities, and a good infrastructure. Bern Airport can be reached in 2.5 hours. Zermatt also has its own heliport, which is served by Air Zermatt. These positive factors also have an impact on the real estate market. One new and sought-after residential area is Täsch, a village some 5 kilometres from Zermatt. It is the cross-country skiing centre of the region. In addition to new developments, historic barn buildings are being converted into residential properties.

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