Brains
Which snow fanatic has not dreamed of owning their own ski home? The idea of simply strapping on a pair of skis from the comfort of your own holiday home in the Alps is certainly enticing to many. According to a recent study by UBS entitled “European Alpine Property Focus,” this dream has never been more expensive. According to the UBS study, which was published on June 4, ski homes across the Alps have surged in value since the pandemic, fueled by lifestyle shifts, scarce supply, and the enduring appeal of alpine escapes. The report, which analyzes the 34 biggest ski resorts across France, Switzerland, Austria, and Italy, shows that second homes in the Alps are no longer just a luxury—they’re status symbols.
The study highlights three key dimensions: price levels, price growth, and market size. While Swiss resorts dominate in terms of price level, France offers the biggest market size. Price growth on the other hand varies strongly, with rates in excess of 5% per annum over the last five years evidenced across all four Alpine countries. In Italy, the highest growth was seen in Cortina d’Ampezzo, possibly driven by the impending 2026 Winter Olympics, while in Austria the highest growth was in Schladming. In Switzerland, Andermatt led the charge, possibly driven by the acquisition by Vail Resorts, while in France the highest growth rate could be observed in Val d’Isère.
So where are the most expensive places to buy a ski home? Here are 13 of the most exclusive resorts, selected from the UBS study’s top-tier destinations and based on the minimum price level for a second homes:
# 13 Saas-Fee, Switzerland
CHF 13,000-15,500 per square meter
($1,473 – $1,757 per square foot)
# 12 Kitzbühel, Austria
EUR 14,800-20,700
($1,567 – $2,192 per square foot)
# 11 Val d’Isère, France
EUR 15,200-23,600 per square meter
($1,610 – $2,499 per square foot)
# 10 Jungfrau-region, Switzerland
CHF 14,300-18,400 per square meter
($1,621 – $2,085 per square foot)
# 9 Lenzerheide, Switzerland
CHF 15,300-19,600 per square meter
($1,734 – $2,222 per square foot)
# 8 Davos-Klosters, Switzerland
CHF 15,800-19,200 per square meter
($1,791 – $2,176 per square foot)
#7 Flims-Laax, Switzerland
CHF 16,500-19,500 per square meter
($1,870 – $2,210 per square foot)
#6 Courchevel, France
EUR 19,100-30,400 per square meter
($2,023 – $3,220 per square foot)
#5 Andermatt, Switzerland
CHF 20,200-24,700 per square meter
($2,290 – $2,800 per square foot)
#4 Gstaad, Switzerland
CHF 20,600-30,500
($2,335 – $3,457 per square foot)
#3 Zermatt, Switzerland
CHF 20,900-26,600 per square meter
($2,369 – $3,015 per square foot)
#2 Verbier, Switzerland
CHF 22,100-28,500 per square meter
($2,505 – $3,230 per square foot)
#1 Engadin/St. Moritz, Switzerland
CHF 22,300-30.900 per square meter
($2,528 – $3,502 per square foot)
Swiss resorts dominate in terms of absolute cost, with destinations like Engadin/St. Moritz, Verbier, and Zermatt commanding top prices. France offers the largest markets, measured by the number of vacation homes—La Plagne–Les Arcs and Val Thorens lead with nearly 9,000 second residences each. In contrast, Austria’s ski resorts are generally smaller and more retreat-oriented and some smaller resorts offer attractive price entry points for those looking for a ski home in the European Alps.
For more details, information on methodology, and further insight, read the full UBS report.
