A successful vaccination program across many countries has facilitated the resumption of ‘normality’, and as skiers have the opportunity to return to the slopes, the prime residential market looks set to benefit for the foreseeable future. Having experienced significant price appreciation over the past two years, resorts with high-quality stock, infrastructure investment and dual-seasonality appeal, are likely to continue to be the beneficiaries of further growth, especially given the flexibility that agile working has provided.

In correlation with the wider prime market, the ski property market as a whole is unlikely to be immune to rising interest rates. Despite limited stock, we anticipate that double-digit price growth is unlikely to continue into 2023, with growth more likely to plateau in certain locations. At the very top end of the market, where purchasers are more reliant upon equity and less dependent upon debt, as well as being a safe haven for capital, the impact of tightening monetary policy is likely to remain limited. There is a positive forecast for a good winter season following the snowfalls to date; Australia saw strong levels of snow during their winter season and the Alps and North America have recorded a healthy start, reporting good falls at the end of the 2022 autumn.

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