Andermatt tops price rankings for European Alpine destinations, bolstered by international buyers: Knight Frank
The Lex Weber, established in 2012, limits the allotment of secondary or holiday homes in Swiss communities to 20% of the standing housing stock. Many hotels have currently struck the restriction, effectively banning new-build 2nd homes, the report adds.
However, interest is additionally increasing from Asian customers. Maureen Yeo, local supervisor of Asia for real estate developer Andermatt Swiss Alps, claims queries from Hong Kong and Singapore buyers have increased roughly 20% in the previous year. She adds that buyers looking for stability, asset maintenance and a currency hedge are drawn to Andermatt, in which they have the possibility to acquire a freehold, Swiss-Franc-denominated asset.
Switzerland’s Andermatt has become the top-performing alpine venue in Europe, according to the 2026 Knight Frank Alpine Property Report. The village in the Swiss Alps observed the top annual growth in prime property prices as of June this year, at 14.6%.
More generally, Knight Frank’s report reveals Alpine real estate markets are progressing beyond their typical function as seasonal vacations. Instead, more clients are seeing it as a year-round place, sustained by remote work patterns, an increase in summer tourism, and more way of life services and facilities available throughout the year. A study amongst high-net-worth individuals (HNWIs) by Knight Frank discovered that 73% would think about staying permanent in the Alps.
According to the report, Andermatt’s strong efficiency is underpinned by its exemption from Switzerland’s Lex Koller and Lex Weber laws. The Lex Koller limits foreign ownership by enabling non-residents to just buy holiday homes inside marked vacationer zones, with a maximum space of 2,152.78 sq ft.
This is considerably greater than the industry standard of 3.3%, and exceeds other popular alpine spots such as Switzerland’s Davos (10.5%) and Italy’s Cortina (10%). Knight Frank includes that on average, Swiss Alpine markets listed 5% yearly development, outmatching the 1.2% regular progress for French markets.
Inevitably, alpine houses have become “resistant, year-round retreats combining lifestyle, stability and strong financial investment performance”, the record includes. As attention continues to expand, the Alpine market is anticipated to see more activity in the coming years, supported by the 2026 Winter Olympics that will be held in Italy’s Milano Cortina, together with evolving laws and increasing summer need.
As Andermatt is exempt from these legislations, it is among the few prime Alpine locations where noncitizens can purchase and resell property freely. Knight Frank’s report notes specific attention amongst United States purchasers for Andermatt real properties.
