AlpineInvestment: A development in a Swiss ski report may attract overseas buyers now that buying restrictions have been eased. Fiona Tyrrell reports.
Irish buyers in the market for a home by the slopes in a winter wonderland location should look to Switzerland where romantic charm is combined with top class facilities.
Switzerland was traditionally not an option for foreign purchasers looking for a holiday home. However, recent relaxations on restrictions governing non-Swiss buying property has made it more attractive to overseas purchasers.
When it comes to outdoor activities the Swiss are pretty serious. Winter resorts are on average 400m higher than elsewhere in Europe. As well as 7,300kms of pistes and 5,000kms of cross-country tracks, you will find over 500kms of toboggan runs (its 15kms toboggan run is reportedly the longest in the world) and snow tubing facilities. And it's not all snow fun: Switzerland also has Europe's largest network of hiking trails.
There are few experiences as relaxing as sitting on a deck chair on a mountain terrace. Above is deep blue sky and ice-capped peaks glittering like blue diamonds, beneath, a carpet of sparkling powder fresh snow.
UK-based estate agent Hartmann Singleton is marketing an apartment and chalet development, called the Swiss Alp Resort, in the breathtaking location of Grindelwald in Switzerland's Jungfrau region. Known as the "glacier village", Grindelwald is one hour by train or car from Berne Airport, two hours from Zurich and Basle, two and a half hours from Geneva and three hours from Milan. It is the oldest resort in the Jungfrau region. Located above the Romantik Hotel Schweizerhof in Grindelwald, the Swiss Alp Resort comprises 16 chalets and 21 apartments.
Prices for apartments start at €453,000 for a one-bedroom apartment with 74sq m (797sq ft) of living space and go up to €1.55 million for a third-floor 193sq m (2,077sq ft) four-bedroom apartment with gallery.
All apartments have a patio area, a cellar and ski/bike room and covered access to the hotel. Underground car-parking costs an additional €25,800.
Also for sale are eight traditional Swiss-style five-star chalets offering a mix of accommodation. Prices start at €663,000 for a one-bedroom chalet apartment with 97sq m (1,044sq ft). Three-bed chalet apartments with 138sq m (1,485sq ft) are priced at €900,000. Prices go up to €2.1 million for a four-bedroom chalet with 21sq m (2,260sq ft) of living space. Access to the hotel from the chalets is via an underground travelator.
Owners will have access to all facilities at the Romantik Hotel Schweizerhof, including its wellness centre, with a pool complex with mountain views, a business centre and concierge and reception services as well as housekeeping and catering. A high-spec fit-out is available in a number of styles. For a total turnkey-package expect to pay 5-10 per cent on cost price.
Maintenance fees are approximately €25 per sq m (€2.30 per sq ft) and buyers should expect to pay in the region of 2.5 per cent for notary fees and stamp duty. Owners can choose to rent their residence back to the hotel on a yearly basis. The developers predict a net profit of 3-7 per cent.
Construction on the scheme is due to start in April of this year and the units should be ready for occupation by Christmas 2007, according to the developer.
The Grindelwald resort has 48 hotels. A dual season resort, the village itself is low (1,034m) but the 4,000m peaks of the Eiger and Jungfrau tower over it.
A network of cable cars and mountain railways serves a total of 213kms of piste. Intermediate skiers have plenty of long runs to choose from. There is plenty of accessible off-piste skiing. Attractions include the annual World Snow festival in January.
Hartmann Singleton - 0044 1 845 597 795
