Contents

• Prime prices

• Ultra-prime

• Market outlook

Prime Prices

Prime ski property values continue to rise, but performance is becoming increasingly selective. Resorts with constrained supply, strong year-round appeal and access to international buyers are pulling away from the wider market. 

Prime residential property prices in ski markets have remained resilient despite economic, political and climate uncertainty. Average prime asking prices in ski resorts rose by 3.8% over the year to September 2026, supported by limited supply, strong demand and growing desirability beyond the winter season. 

The prime residential markets in many ski destinations have also remainedrelatively insulated from wider macroeconomic headwinds such as interest rate movements, as many purchases are often cash-funded. Currency fluctuations have also played a role in shaping market dynamics. Over the year to September 2026, the US dollar weakened against the euro, making US-based ski properties competitively priced in euro terms. However, prices in local currencies have remained stable, reflecting underlying strength in domestic markets. 

Limited supply and sustained buyer demand continue to support pricing across leading ski resorts, with average prime asking prices now more than 50% above pre-pandemic levels. Growing interest in mountain living, combined with the flexibility of remote working and the evolution of ski resorts into year-round destinations, has broadened the buyer base and reinforced long-term demand for prime ski property. 

Prime ski property is a trophy asset that provides lifestyle benefits, portfolio diversification and a vehicle for long-term wealth preservation. These factors are bolstered by resort investment in summer season provisions such as music festivals, biking and hiking trails and hospitality offerings remaining open beyond the ski season. Alongside a growing number of international schools and high-quality education options, these improvements and additional infrastructure are helping resorts to attract year-round residents. 

For buyers, headline price alone provides only part of the picture. The strongest long-term prospects are likely to be found in resorts combining restricted development, reliable access, year-round amenities and a broad buyer base. Property quality and location within each resort will remain critical as market performance becomes increasingly selective. 

ASPEN 

Aspen retains the top position in the Prime Price League for the sixth consecutive year. Average asking prices for prime ski property rose to €38,000 per square metre, up 8% on 2025 and 6.8% in local currency terms. This year-round destination attracts buyers and skiers from across the globe, with its four distinct ski areas and variety of amenities. A deep pool of wealthy buyers and constrained supply continue to support pricing. Aspen also ranks highly in the Savills Next-Generation Wealth Hubs Index, which analyses the destinations best positioned to attract the next generation of wealth. The resort’s strong performance highlights how leading mountain destinations have evolved beyond traditional second-home markets to support year-round living. 

COURCHEVEL 1850 

Ranking second in our Prime Price League and first overall in France, Courchevel 1850 continues to attract buyers from across the world to its prime property market. Average prime asking prices stand at €33,000 per square metre, up 9.5% over the past year. The resort offers skiers access to the Three Valleys, ample hospitality, retail and dining offerings, and top-calibre prime residential property. Demand is underpinned by its global reputation and restrained development pipeline. Buyers are increasingly focused on trophy ski-in/ski-out assets, while continued infrastructure investment and a strong hospitality sector reinforce the resort’s long-term market strength. 

ST MORITZ 

St Moritz, Switzerland’s highest-priced destination in the list, is known for prime residential property, diverse outdoor pursuits and an average of 322 sunny days throughout the year. Average prime residential asking prices stand at €28,300 per square metre. The market benefits from supply scarcity, political and economic stability, and a global buyer base seeking wealth preservation rather than purely investment returns. Restrictions on foreign buyers also help maintain exclusivity and limit turnover. 

JACKSON HOLE 

Jackson Hole is a new entrant to the 2026 Prime Price League. The Wyoming ski destination, perhaps best known for hosting the annual meeting of central bankers, is also known for one of the longest vertical drops in the United States, exceeding 4,000 feet (1,200 metres). It is the second most expensive resort in North America, with average prime asking prices of €21,300 per square metre. Although its buyer base remains more domestic than those of Aspen or Vail, demand is healthy, supported by the area’s privacy and year-round recreational offering. 

LECH 

Lech is Austria’s highest-priced ski destination in the list, with average prime residential asking prices of €21,300 per square metre. Strict planning controls and limited development opportunities severely restrict new supply, supporting long-term capital growth. Extensive ski runs and reliable snow cover support winter demand, and the market has also broadened its summer offering to create a stronger year-round market. 

Ultra-prime residential market

The summit of prime residential prices, ultra-prime property can be found across ski resorts globally, but is concentrated in the United States, France and Switzerland. 

Four of the five markets studied in the United States feature at the top of the Ultra-Prime Price League. Aspen remains top of the table, with ultra-prime asking prices of €75,800 per square metre. This figure is 51% higher than in Val d’Isère, which ranks second in the ultra-prime rankings. New entrants Jackson Hole and Telluride both have ultra-prime asking prices above €30,000 per square metre. Vail remains a consistent performer in the ultra-prime rankings, coming fourth this year, with average ultra-prime prices at €45,800 per square metre. 

France and Switzerland each account for three destinations in the top 10 for ultra-prime pricing. Val d’Isère, Méribel and Courchevel 1850 lead the French resorts for ultra-prime pricing. All three benefit from the supply-demand imbalance evident across the world’s leading ski markets, where suitable prime and ultra-prime stock remains insufficient to meet demand. 

In Switzerland, many of the most desirable properties transact off market, bypassing public listings. These discreet sales often achieve prices from €40,000 to €75,000 per square metre, reflecting the scarcity and exclusivity of ultra-prime stock. Gstaad, Switzerland’s highest-ranked ultra-prime destination, records average asking prices of €47,000 per square metre. It is followed by Verbier and Andermatt, where average ultra-prime asking prices readily exceed €40,000 per square metre. 

Supply restrictions are a defining feature across ski resorts. New inventory remains minimal, often due to zoning regulations, limited land availability or preservation policies. This persistent imbalance between demand and supply supports elevated pricing and reinforces the exclusivity and long-term value of ultra-prime ski property. 

SKI MARKET OUTLOOK 

The global ski market is likely to evolve over the coming year, creating opportunities and challenges for buyers. We compare 10 leading global resorts across four indicators that are likely to shape market performance. The outlook score combines climate resilience, prime property values, supply conditions and accessibility for international buyers, with higher scores indicating stronger near-term prospects. 

Andermatt has the strongest prospects of the 10 markets assessed. Its high altitude and reliable snowfall make it highly climate-resilient and desirable to international skiers. It is also among the most permissive Swiss markets for foreign buyers, while both Verbier and Gstaad have some restrictions on property purchases by overseas buyers. The year ahead looks positive for Andermatt given this openness, elevated buyer demand and restrained supply. 

French Alpine resorts benefit from a compelling combination of international buyer appeal, climate resilience and supply constraints, all of which support long-term value growth. However, not all markets are equal. 

Méribel’s acute shortage of available stock is likely to continue placing upward pressure on prices, while Val d’Isère’s more balanced market provides greater purchasing opportunities. For buyers, these differences in supply levels can be as important as headline price levels. 

In the United States, Aspen and Vail have the strongest outlook, with a balanced level of supply of prime properties. High levels of development in these resorts will continue to create opportunities for both domestic and international buyers seeking prime ski properties. 

If you’re considering a move, whether buying, selling or renting, our team would be delighted to assist with your ski property enquiries.

_{Read the other articles within The Ski Report below}