2021 Property Portfolio FOREWORD CONTENTS Showcase 2 Traversing the Alps 5 From cheap pizzas to flying pianos 9 The Alpen village for all seasons 13 Top hotels, at your service 16 Prime rentals hit luxury heights 18 Climbing prices in many resorts Jeremy Rollason 19 Savills Ski resilience index The French Alps HEAD OF SAVILLS SKI 21 Chamonix 24 Courchevel 2020 started with much to look forward to. This on year and our associates in Morzine reported their 28 Méribel would be the year that the UK would leave the EU, busiest summer season in 11 years. This increase 31 Les Gets & Morzine and for better or for worse, move forward from in enquiries has been seen across the Alps, with 35 La Plagne Brexit. Across the Atlantic, there would be an 75% of our ski offices or associates recording price 37 Val d’Isère election that would determine whether or not the increases too. Resorts that have a year-round 42 Annecy US president would be installed for a second term. population, proximity to larger conurbations and 44 Alpe d’Huez good infrastructure, such as schools and services, 44 Sainte-Foy Ordinarily, politics and economics have an important have fared well in today’s Covid world. 45 Megève sway on housing markets, be that through fiscal 46 Combloux measures such as stamp duty, or less tangible factors Longer term, while our market leading research 46 Évian such as business confidence. However, 2020 will not department cannot possibly predict future events, be remembered so much for its political struggles, we nonetheless have endeavoured to forecast where The Swiss Alps but for our fight against a global pandemic. we see opportunities and price growth in the Alps 48 Four Valleys during the next 5 years (see page 18). 56 Andermatt As I write from a chalet above the Rhone Valley, the 58 Saas-Fee reality of a second European lockdown is a surreal In time, we’re confident the Alps will withstand the 60 Château-d’Oex experience. Whilst the full economic effects of environmental, political and economic challenges Covid-19 will not be fully known for some time, in the that lie ahead. While we wait for a sense of normality The Austrian Alps short term, some clear trends have emerged in real to return, we will be only too glad to help you with 62 Tirol estate markets – such as the rise of home working. your property needs, whether they relate to rental, 68 Salzburgerland The ski property market remains surprisingly active. management, buying or selling. In July 2020, our enquiry levels were up 63% year The Italian Alps 71 Dolomites Insights 72 Buying Guide 73 Global Network 73 Ski Expertise 74 Key Contacts Key Number of Bedrooms Number of Bathrooms Square Metres Distance to Ski Lift Altitude Ski Area Distance to Airport Avarage price per m2 €/CHF Five year forecast 5yr Front cover image: Kitzbühel, Austria. 1 INTRODUCTION INTRODUCTION Savills Savills Savills Meribel Milan Zell am See MUNICH Savills Vienna Germany SALZBURG Savills Morzine KITZBÜHEL ZURICH Savills SEEFELD Courchevel AustriaZELL AM SEE LECH INNSBRUCK Savills Verbier France Switzerland DAVOS KLOSTERS ANDERMATT VAL GARDENA Savills Ski covers not just one country CORTINA DAMPEZZO GSTAAD ST MORITZ or resort: we traverse the Alps. Savills has dedicated offices in Courchevel CRANS-MONTANA 1850, Méribel, Verbier and Zell am See. VILLARS SELLA RONDA GENEVA Morzine Immo represents Savills as their SAAS-FEE International Associates on the French MADONNA DI CAMPIGLIO side of Les Portes du Soleil. We are also MORZINE Savills pleased to work with preferred, best- VERBIER ZERMATT ANNECY Venice in-class agents in many other key Ski CHAMONIX resorts including Val d’Isère, Chamonix, LYO N LA CLUSAZ MEGEVE Zermatt, St Moritz and Kitzbühel. Whether you are buying, selling, renting CHAMBERY LA PLAGNE MILAN or investing, we are here to help you across the Alps and beyond. VAL D’ISERE Italy VERONA Savills Valbonne Savills Antibes Savills Nice Traversing Savills Savills St-Tropez St-Jean-Cap-Ferrat Savills Monaco the Alps 2 SHOWCASE SHOWCASE Chalet Les Bois LES BOIS, CHAMONIX, FRANCE €5,250,000 Click for more Exceptional chalet in one of the most sought after areas of the Chamonix Valley. Spacious grounds and enviable views, surrounded by forest (nature zone), yet only a five minute walk to the Flegere télécabine, this is Alpine living at its best. 5 5 2 340m 600m One of the best chalets we " have seen in the valley. Gordon Lawson "La Floria Immobilier. Savills agent in Chamonix 3 SHOWCASE SHOWCASE Chalet Kirchberg KIRCHBERG, TIROL, AUSTRIA POA Click for more Two exclusive, interconnected chalets situated in quiet and sunny Kirchberger Sonnberg, a prime real estate location. 6 5 A huge asset to this impressive chalet is the wellness area, consisting of a sauna, steam room and relaxation area with direct access to the south-facing terrace. The terrace hosts a beautiful infinity pool. 2 852m 4.5km These modern chalets are complete with" a feature wine lounge, media room, gym and 2 lifts. Anita Kneringer "Aurum Immobilien. Savills agent in Tirol 4 INTERVIEW INTERVIEW Toby’s first season at Verbier was in 2004 and it was very different from the playground of the rich and famous it has become: He says: “When I first came to Verbier it was a real ski bum’s town. Lots of people who didn’t necessarily have a job were coming out for a season on pretty much the cheapest option possible. It was 2.5 francs to the pound in those days - so it was cheap!” " FROM It was very off piste, there was kind of an extreme feel to it. It was very liberal here. Lots of fun parties to go to. CHEAP "It had a bit of everything. “I think the exchange rate has driven the changes. We’re “Often these clients come here, they do one season, they nearly at parity with the pound now. When a pizza used love it and they go ‘Crikey, why are we renting a place? We to be five pounds now it’s the better part of 20 pounds should buy it.’ And they start looking into the market.” and that kind of polarises the market.” What’s on the cards for Verbier in the future? Toby Toby’s role has changed a lot over the years as well. reckons the local authorities seem quite reticent on the PIZZAS Where he used to give mainly group lessons over two or subject, but he thinks the ski area is set to grow further: three hours, he now finds he is more likely to be guiding “Bruson is a tiny little place and about five years ago individuals or small groups. they put up an eight-man gondola there. It seemed a bit ridiculous because when you get there, there’s only one “There’s very much a concierge kind of feel to it. It’s chair lift and one T-bar. interesting what people want out of the day – it’s not just ski instruction. It can be guiding, restaurants, après ski… It “So they don’t tell us about their plans very openly, but can be someone saying: ‘I want my shoes to wear to après it would imply they are going to be developing that area TO FLYING ski so can you get the ski company to bring them down quite considerably in the next five years or so. That will be and actually, while they are there, can you get them to excellent. It will be a whole new ski area that we will get bring my nice Cuban cigars?’” access to. Toby’s clients have changed a bit since the days he was “This is great because most of my clients are very good teaching group lessons: “We’ve had the head of De skiers so I’m constantly looking for new terrain, new areas Beers, the guy who owns Nando’s and the guy who to explore, exciting runs that they haven’t experienced.” owns Compare the Market, we’ve had tons of A-list PIANOS celebs, although they have gone away a bit as they were Good news for Toby’s demanding clients – at least he has struggling a bit with the media attention. There’s always their skiing requirements covered. As for the rest of their someone with a big lens somewhere. Quite often we have needs, where there’s a will there’s a way. Toby says of one HOW VERBIER BECAME SWITZERLAND’S to sign non-disclosure agreements [NDAs].” super-rich visitor: “They wanted a grand piano brought to NUMBER ONE SKI RESORT the chalet. Sometimes the answer has to be, ‘no problem.’ NDAs mean he can’t name the pop stars he’s taken under They had to helicopter it in.” " his wing, but super-chef Jamie Oliver was a little less precious and great fun. Toby Mallock, founder and owner of Performance Verbier Savills have sponsored Performance Verbier for three Ski School, has seen the Swiss village transform from a ‘ski years now, and it is a relationship that works well for They wanted a grand piano brought bum’s town’ to the hangout of the ultra wealthy. He talks Toby. He says: “I have had a lot of inquiries from people who want to buy houses. There’s a shift in terms of social to the chalet. Sometimes the answer us through the changes. climate. You get a rapport with a client. Now I have a little bit of knowledge about the market and I can refer people who are interested to Savills.