Wifi on the slopes and modern design, Savills shares some insights on future ski trends, released in their Alpine Property Market Report earlier this week.
With the baby boomer demographic at the upper end of the skiing age, more needs to be done to attract the millennial generation says Savills World Research and Alpine Homes. Generation Y, shaped by technology but often time poor and burdened by student debt, need a ski experience relevant to them and resorts are having to realign their offering. Many resorts now offer free wifi on the slopes and certain resorts are moving away from the traditional rustic look of hotels and lodgings, preferred by the boomer generation, towards a more contemporary flavour. Winter X-Games type parks and music festivals, such as Snowbombing in Mayrhofen, are becoming a permanent fixture at many resorts. Real estate investors would do well to seek out property in the established, accessible resorts with a diverse non-ski offer.
Paul Tostevin, associate director, Savills World Research, said, “Skier numbers in the west are at a high plateau, or, in some markets, in decline. The most resilient Alpine resorts will be those that are able to diversify their demand base. This means attracting new, younger visitors – for a variety of activities – and tapping into growing Asian ski markets.
“The prime resorts in the Alps have a key advantage, an established reputation as a destination for the world’s wealthy. Few global rivals have the cachet of the premier Swiss, French and Austrian destinations. We expect more demand from the newly rich from emerging markets as they seek out the ‘right’ places to be seen.”
With prices broadly static in resorts across the region, international buyers and sellers have found any profit or losses dictated by currency movements. In the wake of the UK’s EU-Referendum and the weakening of sterling, Swiss Alpine property has become 8.6% more costly to sterling buyers, while French and Austrian Alpine homes have become 7.6% more expensive. Dollar dominated buyers are in a marginally stronger position than in May of this year.
For more information contact Savills Alpine Homes on + 44(0) 20 7016 3740 or Savills World Research on tel: +44 (0)20 7016 3883 or visit www.savills.com