Whistler, B.C., has been named among the five most exclusive ski resorts in the world, according to Engel & Völkers’ latest ski ranking.
The highest prices for ski properties are currently found in the Rocky Mountains in the U.S. state of Colorado: Aspen is ranked as the highest-priced resort, followed by neighbouring Vail.
Third place is shared by St. Moritz and Gstaad in Switzerland, making them the most exclusive ski regions in the Alps. Kitzbuhel in Austria and Whistler in British Columbia round out the top five.
Year-round use and investment security
Properties in these premium locations offer both a high quality of life and stable valuations, says Engel & Völkers.
According to the company, they serve as crisis-proof investments and, for many high-net-worth individuals, are an important way of protecting their assets from inflation.
In the world’s most exclusive ski resorts, the demand for real estate exceeds the limited supply, which the real estate company notes is reflected in the consistently high sales prices.
Besides their stability in value, Engel & Völkers attributes the reason for this is the new potential for remote working and year-round use, which has increased the appeal of owning a ski property for many buyers.
Exclusive chalets and apartments that offer privacy, as well as high-quality equipment, are in especially high demand, according to the company.
Many ski destinations are adapting their facilities and amenities in line with shifting needs and are offering a greater variety of leisure and recreation options for the summer months.
Whistler, B.C.
Canada’s most exclusive ski resort is Whistler in British Columbia. With prices per square metre of up to $36,000 for homes in prime locations, it is the fifth most expensive ski resort in the world.
The current share of international buyers is far below the ratio of national buyers – Engel & Völkers recorded15 per cent in 2022, primarily from the USA and Hong Kong. Canadian buyers account for around 85 percent of market activity.
“The proportion of buyers relocating their primary place of residence to Whistler is increasing all the time – as people look for a main home where they can work remotely and enjoy the unique natural surroundings all year round,” said Maggi Thornhill, licence partner of Engel & Völkers Whistler.
Outlook
Engel & Völkers forecasts that the high property prices in the world’s most exclusive ski resorts are set to remain consistently high.
The company says that due to the crisis-proof nature of real estate and a lack of attractive investment alternatives, demand for premium properties will remain stable in the coming year.
“Geopolitical developments are likely to have little impact on the level of demand, as the majority of buyers in these top locations are extremely equity-rich and much less likely to be reliant on any mortgage financing. This illustrates the enormous resilience of this segment,” notes Josh Lautenberg, licence partner of Engel & Völkers Vail.
The view from a chalet bathroom in Whistler, B.C. Image courtesy Engel & Völkers
