Wilmington, DE – The research results posted by Mitico Estates LLC experts indicate that rental prices for apartments in the Alpine region have increased significantly in 2022 – by an average of 3%, which is 2 times more than a year earlier. At the same time, the highest growth occurred in Switzerland – almost 4%. Austrian and German markets grew by 3%, French – by 2.5%. It is comparable to the 2019 figures. The rental price in the Italian part of the Alps has decreased by 1%. The luxury real estate segment located in the Swiss Alps has shown approx. 8% growth significantly exceeding the market average.
The main reason for the growth in demand for real estate in the Alps was the pandemic. It has caused numerous restrictions which lead to the natural evolution of a remote work concept. In the medium term, Mitico Estates experts team expect the market to consolidate but ultimately the shortage of supply should prevent serious recessions.
Swiss real estate has gained a solid reputation of an investment-safe target and its purchase price is growing significantly slower compared to Austria and Germany, which partially compensates for the long-term costs. This circumstance makes housing in the Swiss Alps particularly attractive to foreign buyers. At the same time, Andermatt remains the only region where citizens of Switzerland and non-residents have equal rights, which allows the latter to purchase real estate. Currently, the cost of square meter in Andermatt exceeds 10,000 Swiss francs ($10,909).
International clients are constantly investing in the development of the region and are actively developing the infrastructure. This is what primarily affects the rise of prices in the region. Today Andermatt has a high-altitude 18-hole golf course, a large concert hall where various artists perform on a regular basis, 3 Michelin restaurants and the largest ski arena in the central Switzerland.
Mitico Estates LLC provides investment options to private, institutional and corporate clients around the world. If you are interested in investing into real estate in the Alpine region, don’t hesitate to contact us for more details.
Company Name: Mitico Estates LLC
Contact Person: Ken Frost
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Phone: +1 (888) 478-1474
Address:501 Silverside Rd
State: DE 19809
Country: United States
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Pure Economic journalist was involved in the writing and production of this article.