The ‘snow residential’ attracts investor interest
The real estate market in areas close to ski resorts is in good health. High demand during the winter season is complemented by the growing appeal of these locations as tourist destinations outside of the season, thanks to the opportunities offered by the natural environment of high mountain regions.
In places like Aspen, in the U.S. state of Colorado, the average price of homes exceeds 29,000 euros per square meter, and can reach up to 114,000 euros for the most luxurious properties. Prime European destinations, like St. Moritz in Switzerland, also exceed 100,000 euros per square meter.
Although Spain has not yet reached these levels, demand and the value of these real estate assets have increased significantly. In fact, in some areas, the cost per square meter is now comparable to central neighborhoods in Madrid, such as Chamberí or Chamartín, according to an analysis by the Idealista portal for Expansión.
Which ski resorts are the most sought-after by investors?
Baqueira Beret. At the top of the ranking is this resort in the Catalan Pyrenees, with an average price of 5,589 euros per square meter. The scarcity of supply and a strong presence of foreign capital are two reasons for its high value.
Formigal. In addition to having a large area of slopes, this resort has experienced significant tourist development in its surrounding area. The average cost per square meter is 3,647 euros, making it the most expensive area in the province of Huesca.
Sierra Nevada. Depending on the location, the Granada resort offers different options: from 3,165 euros per square meter in the “lower zone,” the core of the resort; to 2,589 euros per square meter in the “upper zone,” which is quieter and more residential; and the more affordable “middle zone,” where the price is 2,582 euros per square meter.
Cerler. In fourth place on the list is this resort where the average price of residential properties is 3,059 euros per square meter. It’s a family-friendly location that is becoming more attractive to investors, drawn by the area’s charm and its integration into nature.
Candanchú. The third resort from Huesca to appear on the list has properties with an average price of 2,213 euros per square meter. The merger with the Astún resort is revitalizing the area, which until now was frequented by regular visitors, and is now attracting new investors.
Co-ownership in ski resorts
Buying an entire property is not the only way to invest in snow and high-mountain areas. Co-ownership has become a very appealing alternative for those seeking a second home. The company Vivla already manages 10 luxury properties under this scheme in Baqueira Beret, with prices ranging from 65,000 to 175,000 euros per share.
Vivla’s offer allows purchasing an eighth of these residences, ensuring more than 42 days of use per year with all the comforts of owning a home, but without the usual costs and complications.
Investing from 500 euros
Crowdfunding has also reached the ski residential market. A good example of this is the crowdfunding project launched by Urbanitae for the final phase of the Pleta Arriu development, created by Avintia Inmobiliaria in one of the most exclusive areas of the Arán Valley. With a minimum investment starting at 500 euros, hundreds of small investors were able to benefit from a total return of 14.9% (21 months).
Whether as a second home or for the attractive profitability it offers during the snow season and as a rural tourism destination, this type of asset has established itself as a fantastic real estate investment opportunity. And according to experts, it will continue to rise in the coming years.