Skiing has established itself as one of the most fashionable sporting activities for the high society, which has equally driven the demand for high-end ski properties. Savvy investors are now turning their attention to Austria, particularly the Arlberg region in Tyrol. Thanks to a £35million investment, the area has become one of the largest ski regions in the world and a real hotspot for ski goers.
The extension means the Arlberg now boast a total of 305km of slopes, thus overtaking the French regions of Val d’Isère (300km), Tignes Espace Killy (300km) and Grand Massif (265km). The investment bodes well for property prices and rental income of homes in the area.
Simon Atterbury, Principal at VenturePlus AG, developer of the Mountain Spa Residences in St Anton, comments: “The extra kilometres of piste place the Arlberg in the top 5 resorts globally. We expect to see an increase in the value of ski properties in the region over the next few years as well as more rental income from the increasing numbers of visitors. The Tyrol region has registered a 9.5% year-on- year growth in tourist arrivals in the first half of 2016 and thanks to guaranteed skiing from November to May, the popularity is expected to continue to rise.”
Already, Austria has proven to be a sound investment for those looking to own a ski property, as Savills’ most recent Spotlight Report ‘Alpine Property Market 2015/16’ revealed. The country’s strong domestic economy and record low interest rates have resulted in a national house price growth of 41% since 2008, compared to falls of 0.9 per cent in France over the same period. Despite the increase, Austria’s ski properties are still up to 50 % cheaper than resort property in the Swiss and French Alps, triggering a growing interest from savvy buyers.
Kristall Spaces, the sales arm of Venture Plus AG, has recently launched Mountain Spa Resort – Paznaun, which will feature 40 spacious two- and three-bedroom apartments starting from €340,000 including parking space. Residents will be able to enjoy a vast choice of on-site amenities including a swimming pool, spa and gym, high-end restaurant and bar, whilst the properties’ proximity to Ischgl and Galtür – both approximately 6 minutes via a complimentary ski bus – are bound to attract a high rental demand from holidaymakers.
As with all Kristall Group developments, the project comes fully equipped with all furnishings and fittings sourced locally and parquet floors featuring underfloor heating.
Standard features include triple-glazed floor to ceiling windows, Swiss parquet flooring, Italian ceramics and Hans Grohe bathroom fittings. Miele kitchens with integrated appliances, cutlery and crockery as well as flat screen Smart TVs are also included.
For more information, see propertysaleaustria.co.uk or contact Kristall Spaces on Tel: 020 3735 8790