Restriction on new construction of second houses in Switzerland has led to a sharp increase in housing prices on ski resorts. Since March 2012 such property in Davos and Klosters has become more expensive by 20%, according to ee24.com citing opp-connect.com.
According to the Weber's law, the proportion of second houses is limited to 20% of the housing stock in each Swiss canton. It is usually not a problem in cities, but the number of second houses on ski resorts has already exceeded 20% of all the buildings, so new construction there is hardly possible.
Jan Christmann, managing partner of Engel & Völkers in Davos, said that property buyers in Davos are willing to overpay for an exclusive location near ski slopes, as well as for the nice view from the window. According to Christmann, the majority of customers come from Zurich, Germany, the UK and the Netherlands.
The cost of houses and apartments in Davos currently varies from €9,000 to €16,300 per square meter. Apartments with 1 or 2 bedrooms, which are the most popular, cost from €700,000 to €1.2 million.