Skiing is a favourite pastime for the super rich and affluent and “ultimately the lifestyle that [ski resort homes] provide, strengthens the appeal of a ski home amongst the wealthy,” says luxury estate agents Knight Frank.
Therefore, it comes as no surprise that buying property in some of the key resorts around the world comes at a premium and that €1 million (£854,000, $1.1 million) actually buys you very little.
Luxury estate agents Knight Frank revealed in its “Ski Property Report 2016” released on Monday that since ski resort “housing stock is limited (even before you take into account the Swiss rules and regulations) and new development can be expensive (given the logistics of building on mountain ridges),” investors are trying to find other places across the globe to find a holiday ski home.
But buying a ski home in the Alps is by far the most popular place on the planet. Business Insider decided to take a look at Knight Frank’s assessment of how many square feet €1 million will buy you in the Alps and ranked the key resorts in descending order of square footage:
11. St. Gervais, France — 143 square metres. If you plan to buy a holiday home in the Rhône-Alpes region in south-eastern France, €1 million will only get somewhere the size of the average living room, says Knight Frank.
10. Chamonix, France — 95 square metres. Knight Frank says for €1 million, you will only get somewhere in the popular resort area near the junction of France, Switzerland and Italy the size of a cinema room.
9. Villars, Switzerland — 84 square metres. If you only have €1 million to sink in the Swiss resort, Knight Frank says the property will only be as large as a super rich person’s solarium.
8. Megeve, France — 74 square metres. You’ll need a lot more than €1 million, if you want a property that is larger than the standard staff accommodation in the resort, says Knight Frank.
7. Crans-Montana, Switzerland — 73 square metres. If you are looking to invest in a place that is bigger than an average guest bedroom, you have to plough in multi-millions, according to Knight Frank data.
6. Meribel, France — 65 square metres. The ski resort in the Tarentaise Valley in the French Alps hosts some of the world’s most famous ski-related competitions, so €1 million will only get you a home the size of an average master bedroom.
5. Val d’Isere, France — 56 square metres. The resort which is near the Italy border is one of the most sought after locations for skiing, and €1 million will only get you somewhere the size of a hallway, says Knight Frank.
4. Verbier, Switzerland — 49 square metres. The south-western Swiss area is a favourite destination for Europe’s royalty, including the Belgium royal family pictured here. €1 million will get you a place the size of a bathroom.
3. St. Moritz, Switzerland — 44 square metres. You’ll need multi-millions of euros if you plan to own somewhere bigger than the average ski/boot room.
2. Courchevel, France — 40 square metres. Home to the FIS Grand Prix Ski Jumping competition, you’ll need some serious cash if you want to take your family to somewhere bigger than the size of a bathroom that is used by staff.
1. Gstaad, Switzerland — 32 square metres. Knight Frank says “Gstaad proved the strongest performer in the year to June 2016 with prices rising by 13% over the 12-month period” €1 million will only get your somewhere the size of a laundry room.
