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Clockwise from
bottom left,
Egyptian billionaire
Samih Sawiris visits
the construction
site at Andermatt;
the town before the
development
project began; a 3D
rendering of what it
will look like when
it’s complete
HOLIDAY HOMES
TO BUY NOW
UNDER €450,000
ANDERMATT RESORT
The newest release of apartments
here are set in 42 buildings designed wit
local timber and stone. Units range from
studios up to four beds.
FromCHF495,0
(€400,145); andermatt-swissalps.ch
UNDER €500,000
THE TITLIS RESORT, ENGELBERG
In the resort of Engelberg, an hour from
Andermatt, is a development of one- to
three-bedroom apartments approved fo
sale to non-nationals.
FromCHF590,000
(€476,280); investorsinproperty.com
UNDER €1.5M
THE CHEDI, ANDERMATT
Part of the chic, global hotel brand, suite
at The Chedi are being sold as investme
The hotel has a spa, pool and gym, two
high-spec restaurants and a cigar bar.
Fr
CHF1.5m (€1.2m); andermatt-swissalps.
PHOTOS © FABRICE COFFRINI/AFP/GETTY IMAGES
freely to foreigners. This circumvents the Lex Koller
law, which regulates and often restricts ownership
by non-nationals. Availability is good and entry-level
prices are €400,145 for the smallest units of 36m
2
.
Nevertheless, some feel the price, which is
comparable with more established, fashionable resorts,
such as St Moritz or Gstaad, is still high.
“People don’t want to holiday in an area that’s
going to be under development for some time and
Andermatt doesn’t yet feel like a resort worth €15,000
to €20,000 per square metre,” says one agent who
asked not to be named. “At the moment, investors
want something to rent out immediately. They’re
nervous of tying up money in big, off-plan resorts.”
However, Swiss-market expert, Simon Malster
(
investorsinproperty.com
), who is also selling in
Andermatt, believes it could become popular in time.
“It’s very accessible from Zürich, and will have much
improved transport links and first-class facilities, as
well as an enlarged and upgraded ski area. Anyone
who buys now may feel they’re taking a risk, because so
much is still to be built. But if the plans come together
as promised, then they’ll have bought very well.”
There’s plenty of availability
foreigners in the SwissAlps
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