ImmoScout24 Data Analysis Shows Trend Reversal In Apartment Prices In Ski Areas

The trend reversal in real estate prices is also continuing in many popular ski regions. ImmoScout24 has analyzed the prices of condominiums in 15 Austrian ski areas. Condominiums are currently cheaper to purchase in ten out of 15 winter sports resorts. While in 2022 prices rose sharply by up to 35 percent in almost all regions compared to the previous year, the analysis shows a significant decline of up to 14 percent in 2023 and thus a clear trend reversal. “The domicile directly next to the mountain railway is now within reach again. Economic uncertainty, increased loan interest rates and a general mood of crisis have had a lasting impact on the real estate market, which has flourished for years. Anyone who wants to buy should take advantage of the opportunity and make their dream of owning a home on the ski slopes come true,” says Markus Dejmek, Austria head of ImmoScout24.

Spared from price decline

St. Anton tempts with snow-covered, endless ski slopes. Accordingly, properties in this region are in demand and are still spared from price declines. The price per square meter of 10,000 euros is the second highest of all ski areas and has increased again by 5 percent in 2023. The situation is similar with Ischgl (+3 percent, 9,491 euros/sqm) and Saalbach-Hinterglemm (+8 percent, 7,867 euros/sqm), which offer an almost unmanageable selection of ski slopes thanks to the ski area. Sölden is also a dream destination, but with property prices rising by 28 percent and a price per square meter of 6,442 euros, it is still only around half as expensive as Kitzbühel.

Where prices go down

The celebrity ski resort of Kitzbühel has held the record for many years, both in terms of absolute prices per square meter and in terms of increases. In 2023, condominiums in Gamsstadt have become 7 percent cheaper and are moving back towards the price level of 2021 at an average of 12,935 euros per square meter. The Brixental/Wilder Kaiser ski region bordering Kitzbühel is also recording falling property prices (-9 percent, 8,572 euros/sqm). The ImmoScout24 data analysis shows the strongest price declines for Bad Gastein with minus 14 percent (4,833 euros/sqm) and Nassfeld with minus 12 percent (6,224 euros/sqm). Prices on Katschberg are falling for the second year in a row (-9 percent, 5,489 euros/sqm). In Schladming, the price per square meter is significantly higher at 8,284, but is still falling (-6 percent), as is the case in the Kaprun and Zell am See region (-5 percent, 7,486 euros/sqm). “Holiday properties are becoming more affordable again, even in very popular ski areas. It’s worth taking a closer look at which ski area prices are currently falling,” says Markus Dejmek.

Prices for luxury chalets in Kitzbühel, however, are rising unabated

However, real estate prices for houses in Kitzbühel are rising unabated and are currently at 18,132 euros per square meter. Buyers will have to pay 14 percent more than in 2022, while real estate in the neighboring Brixental/Wilder Kaiser ski area became cheaper to around the same extent. At 10,439 euros, the price per square meter here is still almost twice as high as in the equally popular regions of Kaprun and Zell am See (-9 percent, 5,789 euros/sqm).

About data analysis

The analysis carried out in January 2024 is based on 7,826 data points for condominiums and 1,975 data points for houses from the years 2021, 2022 and 2023 of the offers published on ImmoScout24.at. The median was chosen as the calculation method for the statistical mean. In contrast to the mean, the median has the advantage that it is not distorted by a few extremely cheap or a few extremely expensive objects.

About ImmoScout24

ImmoScout24 has been online with an Austrian marketplace since January 2012 (ImmoScout24.at). Together with Immobilien.net, immodirekt.at and immosuchmaschine.at, the network has around 1.7 million users every month (Google Analytics 2023), and users can choose from around 120,000 real estate offers. More than 2,200 real estate agencies in Austria are currently marketing their properties on the three portals. With its digital solutions, the online marketplace creates orientation and successfully brings owners, brokers and searchers together. ImmoScout24 is working on the goal of processing transactions relating to real estate digitally and thereby making complex decisions easier for its users. Around 50 employees in Vienna are responsible for the success of Scout24 in Austria. ImmoScout24 Austria belongs to the German Scout24 group. Further information at ImmoScout24.at .