Why Gstaad Is Now Europe’s Most Expensive Alpine Property Market.

Switzerland continues to dominate the European Alpine holiday home market, with Gstaad securing the position as the most expensive mountain resort for luxury properties. According to a recent UBS study, premium chalets and apartments in Gstaad now average around CHF 25,000 per square metre, making it the highest-priced Alpine destination in Europe.

Engadin/St. Moritz follows closely with average prices reaching CHF 24,000 per square metre. Other prestigious Swiss destinations including Verbier, Andermatt, and Zermatt complete the top five rankings, with luxury properties starting at approximately CHF 21,000 per square metre. The findings highlight Switzerland’s continued strength in the luxury real estate sector.

Outside Switzerland, France’s Courchevel ranks as the most expensive foreign Alpine resort, with property prices averaging around €20,000 per square metre. Austria’s Kitzbühel follows at approximately €16,000, while Italy’s Cortina d’Ampezzo records average prices of about €13,000 per square metre.

The Alpine property market continues to benefit from growing tourism, major international sporting events, and improved financing conditions. Across Europe’s mountain resorts, holiday apartment prices increased by nearly 4% over the past year. Switzerland and Italy recorded the strongest growth rates, approaching 6%, while Austria experienced a recovery with growth exceeding 3%.

Remote working trends are also driving demand for mountain properties. Younger professionals increasingly seek flexible lifestyles that combine work and nature. At the same time, rising temperatures in urban areas have made cooler Alpine destinations more attractive for both investors and homeowners. Longer life expectancy and demand from retirees further support the market’s growth.

Industry experts expect Swiss Alpine property values to continue rising in the coming years. Switzerland remains highly attractive due to its economic stability, strong currency, investor confidence, security, privacy, and favorable tax environment. These advantages continue to position Swiss mountain resorts among the most sought-after real estate destinations in Europe.