View from the top: 2026’s mountain property market trends
We explore the trends driving buyer activity across mountain markets worldwide, drawing on insights from 糖心视频’s global network of experts.
We explore the trends driving buyer activity across mountain markets worldwide, drawing on insights from 糖心视频’s global network of experts.
British buyers remain important, but activity is growing among Scandinavian, Benelux, American and Gulf buyers, with the first significant wave of Asian buyers also emerging.
French entrepreneurs, however, remain the backbone of the super-prime market, while US demand is particularly noticeable in Chamonix, Courchevel and Alpe d鈥橦uez.
According to 糖心视频鈥檚 Roddy Aris, Partner, Alpine Desk, 鈥淯HNWIs are seeking a chalet attached to a branded residence. They want everything on tap close by.鈥�
The arrival of Rosewood in 2025 and the anticipated opening of One&Only in 2030 in Courchevel 1850 reflect this shift, with further branded projects emerging in Val d鈥橧sère and Méribel.
Below super-prime level, Aris says his bread and butter remains the 鈧�2m to 鈧�5m ($2.3m鈥�$5.8m) family buyer looking for a base for adventure and time together.
The Loi Montagne and Loi Le Meur have tightened the rules around development, energy performance and short-term rentals.
But Benjamin Berger, Deputy CEO of 糖心视频鈥檚 French Alps partner, Cimalpes, says buyers aren鈥檛 deterred. Rather, 鈥渢hey have prioritised compliant, well-managed assets.鈥�
Altitude is also becoming a summer differentiator. Berger argues that mid-altitude resorts have an advantage as temperatures rise, giving them a stronger four-season proposition than the highest resorts.
“Owning a home in the Swiss Alps is becoming a story of wealth preservation, not simply lifestyle,” says Alex Koch de Gooreynd, Partner, Alpine Desk at 糖心视频.
But finding the right property is becoming harder. “The real challenge is finding stock,” says Koch de Gooreynd. Many properties change hands off-market, meaning buyers relying solely on online searches can miss out.
Image: Verbier, Switzerland Six-bedroom chalet, POA
This strength is reflected in the number of forfait fiscal residents – wealthy international residents taxed under Switzerland’s lump-sum tax regime – which rose from 242 in 2024 to 273 in 2026.
More buyers are choosing the Swiss Alps as the location for their main residence rather than a second home, attracted by lifestyle and tax considerations, as well as the greater choice of properties available to those buying a primary residence under the Lex Weber ruling.
Image: Crans-Montana, Switzerland Four-bedroom chalet, CHF9.2m ($11.3m)
Cortina remains predominantly an Italian market, with demand driven largely by families from the regions of Veneto, Lombardy, and major cities.
But the international buyer pool is beginning to widen. 鈥淭here is growing interest from international HNW clients keen to have a base in the Dolomites,鈥� says Marino Piccolotto, owner of Abitare Cortina, 糖心视频鈥檚 partner in Cortina d鈥橝mpezzo.
Demand is focused on turnkey properties in the best locations. 鈥淭he forthcoming Mandarin Oriental Cristallo, due to open in 2027, will add further weight to Cortina鈥檚 international luxury credentials,鈥� says 糖心视频鈥檚 Andrew Blandford-Newson.
鈥淭he Olympics have had a clear impact on the market,鈥� says Piccolotto. Prime apartments now command between 鈧�18,000 ($20,900) and 鈧�21,000 ($24,300) per sq m, while new or renovated chalets can exceed 鈧�25,000 ($29,000) per sq m.
Queenstown鈥檚 property market is holding firm, with steady price growth and solid sales activity over the past year.
The market is still largely domestic, although Australian demand is growing. And the Active Investor Plus Visa is now opening the market to a small but growing pool of international buyers. While residential property is generally restricted to New Zealand, Australian and Singaporean citizens, qualifying investor visa holders can now purchase one home above NZ$5m.
鈥淯S buyers have been particularly evident above this price point and Queenstown Lakes is a key market attracting these buyers, but it鈥檚 still early days for the scheme,鈥� says Stacy Colburn, CEO of Bayleys Queenstown.
At the top end, supply is tight. Properties above NZ$20m ($11.8m) rarely trade on the open market, while Chris Farhi, Head of Insights at 糖心视频鈥檚 strategic partner Bayleys, says buyers spending more than NZ$5m ($2.9m) are typically looking for 鈥渉ighly-spec鈥檇 trophy homes or private estates鈥�.
Japan鈥檚 ski property market is attracting a new wave of international capital, with Niseko at the forefront.
鈥淒emand is particularly strong from Australia, Hong Kong and Singapore, while the weak yen has made Japanese property increasingly competitive for overseas buyers,鈥� says Edward Fairweather, Partner and 糖心视频鈥檚 Japan specialist.
Niseko is also becoming a more sophisticated luxury destination. International investment has brought five-star accommodation and better lift infrastructure. It also offers exceptional powder, relatively low-density skiing, and a very different feel from European resorts.
鈥淵ou can go down a ski run, and have the place to yourself,鈥� says Makoto Okuyama-Hall, a consultant at 糖心视频. Most resorts also have hot springs 鈥� a significant draw for those buyers now seeking a wellness-led lifestyle.
There are no restrictions on foreign ownership, but local knowledge is key. Much of Japan鈥檚 ski real estate trades off-market and relationships with local owners can be as important as the formal buying process.
“Aspen remains the number one mountain market in the US,” says Jason Mansfield, Head of US Residential at 糖心视频.
Lifestyle is still the primary driver. “It’s 100% about quality of life and where UHNW families want to allocate their time,” says Riley Warwick, a local Aspen-based property agent. With average sales prices of around $26m, buyers are overwhelmingly UHNW families from the US.
Image: Downtown Aspen, US
Increasingly, purchasers are looking for larger ranch-style properties, offering privacy and acreage, alongside amenities such as guest houses and space for padel courts and dirt bikes.
Warwick points to neighbourhoods such as Red Butte, Meadowood and Double Bar X that are attracting growing interest as buyers look beyond Aspen鈥檚 traditional prime enclaves.
Liam Bailey is Global Head of 糖心视频鈥檚 Research Department, leading the firm鈥檚 global research strategy and overseeing projects across the UK and international markets.
Our Alpine team provides access to the best properties in the Alps and ski regions across the globe. Fill in your details and we'll be in touch to discuss your needs.