South Africans seeking to diversify their investment portfolios are now able to buy into the biggest ski resort in Europe at competitive prices with significant tax incentives and highly attractive returns.
The Andermatt ski resort in the Swiss Alps has been transformed by Orascom Development from a traditional alpine village into one of the world’s most sought-after, affordable, safe and secure, year-round property investment destinations.
The development is exempt from regulations restricting foreign investors from buying property in Switzerland and buyers also benefit from attractively low tax rates.
SA property expert, Toni Enderli, says pricing in Andermatt is on par with property on Cape Town’s Atlantic seaboard and at the V&A Waterfront. The resort offers full turn-key investments in one-bedroom apartments from around R5-million– all fully managed and serviced by the Radisson Blu group with a guaranteed net 3% annual return. Luxury chalets start from about R90-million.
Enderli’s father, Paul, a Swiss national and chairman of Realtor of Excellence, said diversifying mitigated risk and is a common practice which is why Americans, Europeans and others are flocking to Andermatt.
“In an unstable global economy, Switzerland is a popular safe-haven for investors due to its political neutrality, policy stability, strong currency and low levels of inflation and unemployment. South Africans can now invest in this stable year-round destination for the first time. It’s a great legacy investment for families as there are no death duties,” added Paul.
Andermatt can be reached from SA in about 13 hours. It boasts one of Europe’s best ski and hiking facilities, a championship 18-hole golf course, a fitness and wellness centre, mountain biking, top quality restaurants and luxury hotels, apartment buildings, chalets and shopping facilities. The village centre is a car-free zone, contributing to a harmonious community environment.
Toni added that Andermatt provides property opportunities for both high end and middle-class investors and the process from signing to name change can take as little as one week to complete.