Due to the corona pandemic, real estate in German ski areas is increasingly in demand. This results in significantly higher purchase prices for real estate.
According to an analysis by ImmoScout24 on the development of demand and asking prices, the demand for real estate in the ten largest German ski areas has increased significantly. “From May to July 2021, ImmoScout24 received 68 percent more contact requests per listing than at the beginning of the year. In May 2021, the demand for real estate for sale peaked and was almost three times higher than [sic!] one year ago.”
According to ImmoScout24, Oberstdorf was the most popular real estate location, followed by Garmisch-Partenkirchen and Feldberg in the Black Forest. “In Oberstdorf, the demand from May to August 2021 was up to six times higher than in the same period in 2019. In Garmisch-Partenkirchen and Feldberg, the absolute number of contact requests was lower, but the percentage increase in demand was even greater. In Feldberg, it increased almost eightfold in the period mentioned and in Garmisch-Partenkirchen sixfold compared to the time before the pandemic, ”said the real estate agent in the analysis.
Real estate prices are rising rapidly
Due to the high demand, the asking prices for real estate in the ski areas mentioned have also risen sharply. According to ImmoScout24, prices rose by almost 20 percent in May 2021. A property in Garmisch-Patenkirchen is the most expensive. According to ImmoScout 24, the asking prices for real estate here rose to over 10,000 euros per square meter in the period from May to June 2021. In 2020, real estate could be purchased there for an average price per square meter of 7,500 even more cheaply. Real estate prices in the popular ski resort of Oberstdorf also rose by almost 1,300 euros per square meter last year.
“In times of numerous travel restrictions and bans on accommodation, real estate for sale in Germany’s largest ski areas is more in demand than ever. This is reflected both in the strong increase in demand and in the higher asking prices,” explains Dr. Thomas Schroeter, Managing Director of ImmoScout24.
The ski season in Austria was extremely weak – hotels in Austria recorded almost 91 percent fewer overnight stays over the 2020/21 winter season than in the previous year – but this had no effect on real estate prices in the Austrian ski areas. The price per square meter there is currently 7,200 euros. The clear leader here is Kitzbühel. “Here, the asking prices for the coveted properties rose from around 11,000 euros in January 2020 to up to 16,900 euros per square meter in the summer months of 2021. In the ski regions of Saalbach-Hinterglemm, Kaprun, Zell am See, Schladming and the Brixental, holiday homes were in August 2021 from 6,200 to 7,700 per square meter significantly cheaper”, says ImmoScout 24.
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