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New Zealand and US ski chalets top Knight Frank list of fastest risers

The latest Prime Ski Property Index by Knight Frank has revealed that the average price of a luxury ski home located across 20 of the world’s top resorts increased by 5.9% in the year to June 2014, following growth of 4.6% a year earlier. The index reached its lowest point in June 2009 and has since risen by 23.5%.

The firm reports: ‘Interestingly, this trend mirrors our Global House Price Index and Prime Global Cities Index. Queenstown (NZ) and Aspen (US) recorded the strongest rise in luxury prices, up by 24.8% and 20.7% respectively in the 12 months to June.

‘New Zealand’s economic upturn, foreign investment and low interest rates are fuelling price growth in New Zealand’s top resort.In Aspen despite annual price growth of over 20%, luxury prices are still 18% below their pre-crisis peak.’

Overall, North America outperformed Europe by some margin in the year to June, recording average price growth of 13.3% compared to just 1% in Europe. However, average prices across the North American resorts remain 9.9% below their 2008 peak whilst the comparable figure for Europe is already 8.8% above.

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