Swiss holiday homes: who’s buying?
There’s nothing like an alpine holiday to unwind: vast, snow-capped mountains, shredding slopes, and a bit of apres-ski fun. The only downside? All that packing and planning – two issues that are solved if one owns their own holiday home. Which is probably why 95 per cent of Andermatt Swiss Alps’ latest development, Koya, were snapped up for reservation just two weeks into the waiting list launch. Singaporeans, it seems, are particularly enamoured with the alps – making up an outsized 8 per cent of all buyers.
While halting virtually all travel, the pandemic, it seems, has had a positive effect on sales of alpine property. Says Maureen Yeo, Regional Director Asia at Andermatt Swiss Alps, “We sold more properties in 2020 than we did the year before, and two of the key reasons are the market volatility and low interest rates, which prompted people to invest in brick and mortar.”
While more people are buying holiday homes – whether for investment, pleasure, or both – their needs and wants are also changing due to the pandemic. Owners are seeking better returns on their properties by purchasing second and holiday homes in locations that offer a full calendar of activities, and consequently the opportunity for full occupancy, throughout the year.
More importantly though, the homes aren’t just seen as just a place to stay anymore – but a gateway to wellness. “People will be looking for destinations where they can connect with each other as well as with nature; and also a place where there are health and wellbeing facilities where they can rest and relax – both of which Andermatt Swiss Alps cater to,” shares Yeo.
For those that still can’t leave the country and are looking for financial returns, Yeo has some pretty enticing numbers too. Returns generated by Andermatt Swiss Alps’ rental programme are estimated to be between one to three per cent annually; while capital gain for the still-developing resort is roughly five per cent – all of which is pegged to the relatively stable Swiss Franc.
The best part of owning a property in the Alps though, is probably the chance to have a home office with a view. “People realised that they no longer needed to work in the big cities due to Covid – and are going into the alps to work from home.” No more Monday blues with this view.