Strong Dual Season of Austrian Alps Sees Growing Interest from British Property Buyers
Figures released by the Austrian National Tourist Office (ANTO) this year show that the country’s summer season is more popular than the ski season, with 51% of visitors enjoying the Alps for hiking, golfing, mountain-biking, watersports and other outdoor activities. The country’s strong dual-season is also driving the demand for property, both to buy and rent, as the Tyrol Tourism Board reveals 21% of overnight stays in summer 2015 have been spent in privately owned holiday homes.
Branson Atterbury, Marketing Director of Austrian property developer Kristall Spaces explains: “Due to Austria’s strong dual-season, the demand for holiday accommodation is greater than the supply, with many local hotels booking out quickly. As a result, privately owned holiday homes have had a steady uplift in all-year-round rental demand.
“We are registering an increasing number of enquiries from UK buyers who want the security of their property delivering rental returns throughout the year, not just during a specific season. At the same time, they want to experience the Alps’ dual-season themselves and take advantage of the summer activities, local events and fresh mountain air, which is perfect for those wanting to keep fit and catch some high-altitude sun.”
To meet the demand Kristall Spaces will, this year, launch Mountain Lake Resort – Ötztal in Oetz and Mountain Spa Resort – Paznaun near Ischgl, both offering rental returns of up to four percent. The Oetz project, located 30 minutes from Innsbruck Airport, will be in close proximity to Europe’s largest outdoor adventure park, Area 47, featuring 66,000 sqm of activities such as a large ski ramp to learn how to somersault on skis into water, rock-climbing, mountain-biking, cliff diving, wild water rafting, wakeboarding, mega-curved waterslides and more. Alternatively, and only a 45-minute drive from Oetz, lays Europe’s steepest summer toboggan run ‘Serlesbahn’, measuring 2.6 kilometres in length.
Mountain Spa Resort – Paznaun will be located one hour from Innsbruck Airport. Further details on the project are yet to be revealed but buyers will be able to choose from 40 luxury one to three-bedroom apartments, swimming pool and wellness as well as onsite restaurant and bar. Visitors and residents in Galtür can benefit from the Silvretta Card, which makes any hike easier as it offers free use of cable cars and chairlifts in Ischgl, Galtür, Kappl, See and Samnaun. Other activities in Galtür include tennis, cycling & mountain biking, golf, horse-riding and trout fishing as well as unique events such as the annual Cheese Olympics and Silvretta Run, a marathon event, next taking place on 15th and 16th July 2016.
Already, Austria has proven to be a sound investment 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 properties are still up to 50% cheaper than resort property in the Swiss and French Alps, triggering a growing interest from savvy buyers.
For more information, see www.kristall-spaces.com or contact Kristall Spaces on Tel: 020 3735 8790