Owning a piece of coveted property in the Swiss Alps is now possible for foreign investors.
When one thinks of skiing in the Swiss Alps, St Moritz and Zermatt immediately come to mind. But there is another up-and-coming ski destination, Andermatt, that’s tipped to be the largest ski area in central
Switzerland. On top of new infrastructure that connects Andermatt to Sedrun and Disentis, the Ski Arena Andermatt-Sedrun has over 180km of pistes suitable for every type of skier.
Nestled between Nätschen and Gemstock, the valley of Andermatt is poised to see much more construction as more developers descend on the area to cater to increasing demand. It is currently a year-round destination, with not only skiing facilities in the winter, but cycling, golf and hiking in the summer.
Hotels that have already made a mark there is the five-star The Chedi Andermatt and the four-star Radisson Blu Hotel Reussen. Also available are three Michelin-starred restaurants, a selection of local and international retailers plus a 650-seat concert hall.
During the devastating pandemic of 2020 (and still continuing), Europe was the worst continent hit with an unprecedented 70% year-on-year reduction in RevPAR (as per local currency denominated data recorded by STR). However, Switzerland’s hotels proved the most resilient within Europe with a relatively smaller fall of 59% in RevPAR, which also pushed Switzerland to the number 1 spot in actual values (as per EUR denominated data recorded by STR).
This resilience can be attributed mainly to an excellent summer for the Alpine resorts, which benefited from relatively relaxed COVD-19 restrictions in Switzerland including borders with neighbouring countries remaining open.
As of December 2019, Andermatt has a population of 1,433. But this is expected to increase soon, with a developer announcing their plans to expand Andermatt village into a large resort, double its current size. These plans include:
- 6 new 4-5 star hotels
- 500 new apartments
- 30 new villas
- A new leisure centre
- Over twice the amount of ski slopes
Located in the heart of Switzerland, Andermatt is accessible from everywhere. It is only a 90-minute drive from Zurich, two hours from Milan, and four hours from Munich. Trains run several times a day and Zurich, Basel and Milan airports are only two hours away ensuring hassle free travel to and from.
Asian Property Review talks to Russell Collins, Head of Real Estate at Andermatt Swiss Alps, on the potential of this resort town for foreign investors:
How can Asian investors benefit from Swiss real estate all year round?