Global economic headwinds began to be felt over the course of the last year in many ski markets, though there were notable exceptions. On average across the Prime Price Index, prices fell by just over -4% for the year. However, this fall is from record levels after prices rose more than 20% in the 2021/22 season. In markets where prices are still rising, this is in part due to high levels of demand, lack of stock, and low development pipelines limiting the number and frequency of transactions.

Buying prime residential property is an emotive decision for most, and prime ski property is no exception. The purchase not only represents an attractive store of capital but also a highly sentimental asset for many. While prices have fallen slightly from their 2022 highs, on average they remain 20% above 2021 levels and 41% above pre-pandemic prices. For the purpose of this analysis, Savills defines prime as properties with prices above €750,000.

Pistes de résistance

1. Aspen

Consistently ranked as the top ski destination in the United States, Aspen has been attracting visitors to its mountain ski runs since the 1930s. The market remains predominantly domestic with buyers and seasonal visitors from across the country. It also remains one of the most expensive property markets, not just in the United States, but globally. Asking prices for prime residential properties average over €35,000 per square metre, and there are many more properties that transact for higher prices without ever coming to market. Despite wider market headwinds, prime prices in Aspen rose by 2.3% from 2022.

2. Courchevel 1850

Known for its cosmopolitan village and luxury amenities, Courchevel 1850 offers a glamorous alpine experience. Consistently high levels of demand have boosted prices in the resort by over 15%, giving the market the fifth most expensive prime property at €26,600 per square metre. The village is also lined with high-end boutiques, Michelin-starred restaurants, and luxurious chalets, making it a favourite among elite skiers and ultra-high-net-worth individuals.

3. Zermatt

Zermatt is a picturesque Swiss ski resort in the heart of the Alps, famed for its stunning views of the iconic Matterhorn peak. With a car-free village centre, Zermatt exudes charm and tranquillity. It offers an extensive network of well-groomed slopes, including the Glacier Paradise, one of Europe’s highest lifts. The village also boasts upscale hotels, gourmet dining, and high-end shopping, making Zermatt a top destination, with prime residential property averaging €21,200 per square metre.

4. Whistler Blackcomb

Whistler Blackcomb in British Columbia is a renowned ski resort celebrated for its vast terrain and mountain vistas. It’s the largest ski resort in North America, known for its reliable snowfall and world-class facilities. With a village atmosphere, it features an array of restaurants, shops, and accommodation types, and appeals to winter sports enthusiasts from across North America. It is this appeal which has boosted Whistler into the top 20 most expensive markets for prime property at €14,800 per square metre.

5. Cortina D’Ampezzo

Cortina D’Ampezzo in the Italian Dolomites is an iconic ski resort renowned for its breathtaking natural beauty and rich cultural heritage. It offers an extensive network of slopes, with stunning alpine vistas as a backdrop, and will play host to the Winter Olympics in 2026. The town exudes elegance, with upscale boutiques, fine dining, and a vibrant après-ski scene. The resort has also seen rising prices over the past year, with prices for prime property increasing by more than 6%, taking average asking prices to €14,800 per square metre – the highest for any ski resort in Italy.

If you’re considering a move, whether buying, selling or renting, our team would be delighted to assist with your ski property enquiries.

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