Austria’s Top Ski Region to Surpass French Resorts Following £35m Investment and Four New Ski Lifts
Austria’s region of the Arlberg is set to become one of the largest ski regions in the world following a €45million (£35m) investment, creating four new ski lifts linking the ‘birthplace of alpine skiing’ St Anton and its exclusive neighbour, Lech. The extension means the Arlberg will boast a total of 305km of slopes, 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 region.
Due to open in time for this year’s ski season in November and taking the Arlberg’s total number of ski lifts to 87, the four new additions include Flexenbahn, Trittkopfbahn I, Trittkopfbahn II and Albonabahn II. Over the last 15 years, more than €6 billion has been spent to ensure Austrian resorts have the most updated lift infrastructure and resort amenities in the industry.
Branson Atterbury, Marketing Director at Austrian property specialist, Kristall Spaces comments: “St Anton has always been a world-class destination for serious skiers and those who appreciate real alpine atmosphere. These extra kilometres of piste place the Arlberg in the top 5 to 10 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.”
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 UK buyers, who in practice find it difficult to buy a second home in Austria, unless it is in a resort.
Branson Atterbury adds: “In the last 2 years, there has been a 12% increase in the number of UK buyers searching online for ‘property in Austria’ (source: Google Trends) driven by more reasonable prices and higher yields versus French and Swiss properties. A 4% year-on-year increase in UK visitors to the region is also a factor.”
Kristall Spaces has recently launched Mountain Spa Residences in St Anton, featuring 28 fully furnished apartments, surrounded by alpine meadows with some of the best views in the valley. Offering a ski-out location, the Nassereinbahn ski lift is just 500 metres away.
Owners have access to extensive leisure facilities including a 600m² on-site spa with a sauna and massage rooms, a 12-metre indoor and a 12-metre outdoor swimming pool. Other facilities include an on-site lounge bar and brasserie restaurant and underground parking. The apartment comes with an on-site concierge, providing truly VIP services such as airport pick up and chauffeur service. A fully managed, hassle-free rental programme from the experienced ski holiday specialist, MW Hotels & Resorts, is also included.
Prices start at €668,500 for a 2-bedroom, 2-bathroom apartment with a large balcony. Completion date is planned for the 2017 ski season.
For more information, see www.kristall-spaces.com or contact Kristall Spaces on Tel: 020 3735 8790
Kristall Spaces is the sales and marketing arm of VenturePlus AG, a leading British-managed property developer with a 20-year track record in Austria and a current pipeline of ski property developments in various stages worth in excess of €100m.
They develop and sell more ski apartments in Austria than any other company and help owners achieve their dream lifestyle investment. They are currently developing property for sale in snow sure Kühtai, St Anton, Ischgl/Galtür, Oetz, Sölden and Fieberbrunn and have additional projects in the pipeline to be announced.
Kristall Spaces has offices in London’s Notting Hill and Switzerland. VenturePlus AG draws on its past experience of developing student accommodation in London, care-home and residential property in Austria, Germany, Ireland and the UK, and retail, office, hospitality and logistics projects in the Balkans.
Press release written by P1 Communications, specialists in property public relations