Andermatt tops price rankings for European Alpine destinations, bolstered by international buyers: Knight Frank
According to the record, Andermatt’s strong performance is underpinned by its exemption from Switzerland’s Lex Koller and Lex Weber regulations. The Lex Koller regulates foreign control by enabling non-residents to only acquire vacation homes within designated traveler zones, with a max space of 2,152.78 sq ft.
More broadly, Knight Frank’s report shows Alpine property markets are developing beyond their traditional role as in season escapes. Rather, more investors are seeing it as a year-round location, supported by remote job trends, an increase in summer tourism, and more way of life offerings and features available throughout the year. A study among high-net-worth individuals (HNWIs) by Knight Frank identified that 73% would certainly consider staying full time in the Alps.
The Lex Weber, enacted in 2012, limits the share of secondary or vacation homes in Swiss communities to 20% of the existing housing stock. Many resorts have already hit the restriction, successfully outlawing new-build second homes, the report includes.
As Andermatt is excluded from these legislations, it is one of minority prime Alpine places where immigrants can acquire and resale real estate freely. Knight Frank’s report notes certain interest amongst US customers for Andermatt real properties.
This is considerably higher than the market standard of 3.3%, and surpasses other popular alpine locations such as Switzerland’s Davos (10.5%) and Italy’s Cortina (10%). Knight Frank includes that on average, Swiss Alpine markets listed 5% annual expansion, outmatching the 1.2% regular progress for French markets.
However, interest is likewise growing from Asian buyers. Maureen Yeo, regional supervisor of Asia for real estate property developer Andermatt Swiss Alps, says enquiries from Hong Kong and Singapore buyers have actually climbed approximately 20% in the last year. She includes that buyers looking for security, asset maintenance and a currency hedge are drawn to Andermatt, in which they have the chance to acquire a freehold, Swiss-Franc-denominated possession.
Switzerland’s Andermatt has become the top-performing alpine venue in Europe, according to the 2026 Knight Frank Alpine Property Report. The town in the Swiss Alps saw the top yearly growth in top property costs as of June this year, at 14.6%.
Ultimately, alpine houses have become “resistant, year-round retreats combining way of living, security and strong investment efficiency”, the report adds. As interest remains to expand, the Alpine market is expected to see further activity in the coming years, sustained by the 2026 Winter Olympics that will be kept in Italy’s Milano Cortina, along with developing regulations and increasing summer season need.
