St moritz swarming with overseas buyers says engel & völkers

Property prices in the exclusive ski resort of St. Moritz are booming with overseas investors driving 90% of all activity, property agency Engel & Völkers told OPP this week.

The resort’s “attractive location in the middle of the Engadine lakes,” surrounded by mountains “means that space is very limited. Land plots are a scarce commodity” too, and “restrictively managed planning permission and strict stipulations governing new developments” is all combining to create “a small yet high-demand market,” says E&V.

Speaking to OPP this week, Chiara Jankolow, Office Manager at Engel & Völkers in St. Moritz said “all these factors have resulted not only in sustained high prices on the property market, but even price hikes in the uppermost market segment.”

Wealthy buyers wanting to “invest capital in crisis-proof assets has sent demand and prices soaring” in St Moritz adds Jankolow.

Source: OPP.org.uk