One of the properties in Turracher Hohe, Styria. Photo: © Savills.
Austrian ski resorts are famed for being especially hospitable, lively and on the whole, much less developed than their French and Swiss counterparts.
Ischgl’s become very fashionable for big parties showcasing international stars, Kitzbuhel is Austrian’s glitziest best (though some celebs prefer classy Lech); and then there are a raft of traditional British favourites led by St Anton, Obergurgl and Zell am See.
But the Austrians have historically been less eager to court foreign holiday home owners than their Alpine neighbours, and many resorts remain very provincial rather than international in make-up.
Many Austrian ski villages are dominated by just a couple of local landowning families who will not always sell to outsiders, but in the last five years more resorts have begun to ‘open up’ to development of touristic properties. That said, non-EU citizens cannot buy in the Tirol or Vorarlberg – or Salzburg, since they introduced a new restriction in 2013.
Even more zealous than the Swiss in their desire to avoid ghost-town mountain ski villages – the so-called ‘cold beds’ of absentee owners – the Austrians enforce a rental obligation on 90% of their ski property schemes.
So whilst you don’t always have to professionally let out your ski home (the flexibility in schemes varies widely), you do need to keep it occupied for a good number of weeks a year – welcome news for friends and family!
One of the two-bed Ski & Spa Apartments in Ischgl, Tirol. Photo: © Alpine Marketing.
Big hitters in the Tirol and Vorarlberg
So if you are an EU citizen who is happy to share your ski home, Austria can offer some of the most affordable yet high-quality new-build developments in the Alps.
Buyers tend to purchase new homes in Austria rather than resales, and the good news is that there is a fair amount being built by a healthy construction industry.
Having stolidly avoiding the speculative peaks and troughs of recent years, the price of ski homes has remained fairly steady, slowly rising each year by single figures.
Positive economic factors underpin the housing market, tourism is booming, and official figures show price growth of over 10% between 2012 and 2013.
According to Savills – one of only a handful of well-known agents selling Austrian property to the UK market – transaction levels in Austria doubled in that period, as buyers look for a purchase that offers both lifestyle and investment appeal – and value for money.
So where best to look right now? Here are a few pointers:
If you are lucky enough to be shopping for a luxury chalet than you will generally head for classy Kitzbuhel where you will find a few on the open market around €2-4m (Savills/Alpine Homes have three or four on their books).
You might also fancy Lech or St Anton, but you’ll be lucky to find anything there – but there is a very rare new-build scheme in the former if you have an eye-watering €5.7m (through Alpine Marketing.
Apartments are hard to find in any of these resorts, and there is so little available in Obergurgl that a new scheme of 14 units released at the end of 2013 has nearly sold out – three-bed apartments for €505,500 from Alpine Marketing.
This company also has two new schemes in pricy Ischgl (see below), and Savills have properties in Alpbach and Solden. Most people, however, look to the wider choice and greater affordability of the Salzburg region.
Charming traditionally style chalet Wald B, in Salzburgerland. Photo: © Alpine Marketing.
Popular Salzburgerland
Zell am See, a resort that ticks many boxes, is positively cosmopolitan by Austrian standards, with some of its apartment complexes housing an array of nationalities these days.
An accessible, attractive and truly dual-season town, it offers a (relatively) wide choice of apartments (don’t even dream about getting your hands on one of the lakefront homes) from around €150,000 upwards. Mark Warner Property tend to have the widest choice of options there currently.
Less touristy than Zell is nearby Bramberg, a fast-evolving ski resort with a high-end feel liked by some British buyers for its family-friendly ambience and authentic village. Alpine Marketing have properties there from €418,000 or in close-by Wald for those with a smaller budget.
The skiing in Saalbach is arguably better than in Zell, and if you have €400,000 to spend you can get a ski-in, ski-out luxury apartment with spa facilities (through Savills/Alpine Homes).
A couple of developments in the spa town of Bad Gastein have been heavily marketed in recent years if you want more than a pure ski village, but prices have been fuelled as a result.
In the nearby scenic village of Dorfgastein (part of the 250km Gastein Valley ski area, a train ride from Salzburg) your money goes further, and you can get a two-bed apartment for €228,000 (Mark Warner Property).
New-build detached chalet in St Lorenzen in the Kreischberg ski region. Photo: © Savills.
Off the beaten track: Styria
Inevitably your money stretches further in the less popular ski areas, and if you want to own a stand-alone new ski chalet for £150,000-200,000 then you need to get yourself on a Ryanair flight to Klagenfurt, in the Styria region.
Savills have a choice between Kreischberg, Murau and Turracher Hohe (the latter is double that budget but larger properties that still great value), with prices from €142,000.
FOR SALE
1. Zell am See, from €360,000
Two- to four-bed apartments in a brand new lakeside development of 25 luxury properties, centrally positioned in the popular resort of Zell am See. Access to communal spa and great lake views; optional rental management scheme. Mark Warner Property.
2. Wald, €390,000
You might not have heard of this hamlet next to Bramberg in the Salzburg region, but you can get a charming traditionally styled new-build chalet with wooden cladding and bell tower for less than £300k. Two to five bedrooms, all with a balcony or terrace. 1hr 40 mins to two airports. Alpine Marketing.
3. Kreischberg, €189,000
New-build detached chalet in the traditional small town of St Lorenzen in the Kreischberg ski region, Styria. With the gondola 100m away, and child-oriented ski runs and amenities, it’s ideal for families, and comes with a rental obligation. Savills/Alpine Homes.
4. Ischgl, €601,500
You have to pay a premium to be in this trendy Tirolean resort, but you will be handy for its lively nightlife. Two-bed Ski & Spa Apartments only 80 minutes from Innsbruck airport. Alpine Marketing.
5. Turracher Hohe, €355,970
These eco-friendly and attractive new-build detached ski lodges in the Styrian resort of Turracher Hohe are being sold off-plan, but you can choose from three or four bedrooms over two or three levels, 120-140m2. Surrounded by stunning scenery of lakes and wooded slopes. Savills/Alpine Homes.
See also our general advice on buying ski property, and our feature on ski property in France.
Where to Find the Specialists
To properly explore the resale market, you’ll need to contact specialist companies. These include
Alpine Homes International, Alpine Property Investments, Chesterton, Erna Low Property, 4 Property, Hartmann Singleton, Investors in Property, Peak Retreats, Pure, Savills International, Ski Collection, Ski Safari Property, and Undiscovered Properties.