Knight Frank, one of the world’s most respected real estate consultant companies, has published its annual analytical report, offering an in-depth overview of the Alpine property market across Switzerland, Austria, France and Italy.
Growing mountain resort demand beyond the Alps
Investment opportunities in mountain real estate now extend well beyond established markets such as France and Switzerland. Investors are increasingly turning their attention to destinations offering growth potential. From the Swedish resort of Åre (€5,000–€8,000 per m²) to Zakopane in Poland (€4,500–€6,500 per m²), lesser-known European mountain destinations are gaining prominence as culturally appealing and financially compelling alternatives for investors.
Rental yields by country
Rental returns on mountain properties vary significantly, depending on the country and the resort. In leading French ski destinations, net rental yields typically range between 3% and 5%. Switzerland, by contrast, offers slightly lower yields of 2% to 4%, but these tend to be more resilient to market fluctuations—an important factor for investors seeking stable, long-term income.
Costs to consider when purchasing a mountain property
Owning a property in the Alps is a lifestyle investment, combining rental income with personal use for holidays. Alongside the purchase price, investors should factor into ongoing operating and legal costs. These include, for example, taxe foncière and mandatory energy efficiency requirements (DPE) in France, or purchase taxes and notary and land registry fees in Switzerland. Selecting the right investment structure is therefore essential to ensure that returns remain profitable as well as sustainable over the long term.
We are seeing a similar level of interest in mountain real estate closer to home as well – in Slovakia and the Czech Republic. Investors are increasingly looking for destinations where rental income can be combined with personal holiday use. The Gopass Property Fund offers an opportunity to participate in such projects and to be involved in the development of mountain destinations, with the aim of achieving stable, long-term returns that are often higher than those available in Alpine locations.
