Courchevel 1850 tops the list for prime property prices, up from third place last year. Named after its altitude, the village is known for its luxury hotels and Michelin-starred restaurants. International buyers make up a high share of purchases at the top end of the market, with Russian and Swiss buyers among the most common international buyer nationalities.

The US resorts of Aspen and Vail also rank highly, second and sixth place respectively. Both resorts offer exceptional skiing and are a magnet for wealthy domestic buyers.

Val d’Isère ranks third, down one place from last year’s prime price league. Demand in the French resort remains high due to its reputation for luxury, good skiing and snowfall. Verbier comes in fourth place and is the highest value Swiss resort, just ahead of Andermatt. British buyers make up a high share of prime property purchases but, despite a strong Swiss Franc and weak sterling, prices are being driven by improved infrastructure and snow assurance. Additionally, new summer events are attracting more people to the resort year-round, including the Verbier E-Bike Festival, which brought in 7-8,000 people over the course of the four-day event.

At the other end of the prime price league, Morzine and Zell am See rank as lower-valued resorts for prime residential property. Morzine remains attractive due to its year-round appeal, with a host of events taking place during the summer. The impact of Brexit uncertainty and the value of sterling is being felt, but the market remains active.

Zell am See has seen price growth over the past year thanks to new ski links to Kaprun. Despite less activity from British buyers (as a result of Brexit uncertainty), there is still interest from German, Benelux, Scandinavian and Eastern European buyers.

Prime price movements

Many resorts in the Alps have seen prime property prices increase over the past 12 months, with the prime market generally seeing larger rises in value than the mainstream market. Factors such as lack of supply, improved dual seasonality and new ski lifts are some of the major drivers of values in these resorts.

New investment: branded residences

Across the globe, the number of branded residential schemes, which are normally a partnership between a brand (often a hotel operator) and a developer, has grown by 198% during the past decade. Branded residences offer many advantages in a crowded global marketplace for luxury property, and the distinction of carrying a brand has become recognised as a unique selling point.

Of the 21 residences in or near a ski resort, the majority are located in North America, comprising 81% of completed schemes. This compares to 14% in Europe and 5% in Asia.

However, much like the sector as a whole, the future pipeline of schemes is more geographically diverse. Europe accounts for half of the 12 pipeline schemes, while North America accounts for 42% and Asia 8%.

For ski resorts, hoteliers can deploy a range of brands to best suit the resort in question, from luxury branded residences, which add to the resorts’ prestige and reputation, to ‘upscale’ investment-driven product to help drive sales and the growth of a resort. Branded residences offer owners exceptional services and amenities while in use and income potential when unoccupied; allowing a resort to stand out to potential buyers of luxury ski property. The addition of branded developments demonstrates the ongoing investment into ski resorts.

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