Austria’s popular skiing region of Arlberg is about to get a lift, thanks to a new investment of £35 million.
The money will go towards the creation of four new ski lifts, linking St Anton and its exclusive neighbour, Lech. The result will boost the area’s total of ski slopes to 305km, overtaking France’s Val d’Isère with its 300km.
Due to open in time for this year’s ski season in November and taking the Arlberg’s total number of ski lifts to 87, the four new additions include Flexenbahn, Trittkopfbahn I, Trittkopfbahn II and Albonabahn II. Over the last 15 years, more than €6 billion has been spent to ensure Austrian resorts have the most updated lift infrastructure and resort amenities in the industry.
The development work bodes well for property prices and rental income of homes in the region, says Austrian property specialist Kristall Spaces.
“St Anton has always been a world-class destination for serious skiers and those who appreciate real alpine atmosphere,” comments Branson Atterbury, Marketing Director. “These extra kilometres of piste place the Arlberg in the top 5 to 10 resorts globally. We expect to see an increase in the value of ski properties in the region over the next few years as well as more rental income from the increasing numbers of visitors.”
The area’s popularity is also set to increase among investors, adds Kristall.
In the last 2 years, there has been a 12 per cent increase in the number of UK buyers searching online for “property in Austria”. which Atterbury attributes to more reasonable prices and higher yields versus French and Swiss properties.
“A 4 per cent year-on-year increase in UK visitors to the region is also a factor,” he adds.
Austria has certainly proven to be a sound investment for those looking to own a ski property, as Savills’ most recent Spotlight Report, Alpine Property Market 2015/16, reveals. The country’s strong domestic economy and record low interest rates have resulted in a national house price growth of 41 per cent since 2008, compared to falls of 0.9 per cent in France over the same period. Despite the increase, Austria’s ski properties are still up to 50 per cent cheaper than resort property in the Swiss and French Alps.
Kristall Spaces has recently launched Mountain Spa Residences in St Anton, featuring 28 fully furnished apartments, surrounded by alpine meadows with some of the best views in the valley. Offering a ski-out location, the Nassereinbahn ski lift is just 500 metres away. The completion date is planned for the 2017 ski season.Google+