Where is the property market heading?
A look at trends and future prospects.
«The Upper Engadine remains a sought-after destination for holiday homes and continues to impress with its exceptional quality of life, picturesque landscape and exclusive property offering. This popularity will also be reflected in property prices in 2024,» says Franco Giovanoli, Location Manager St. Moritz
A look back: price trends on the property market in 2024
Prices for residential property in the Engadin remain high. In the municipalities from S-chanf to Pontresina, upmarket properties cost between CHF 15,000 and CHF 19,000 per square metre. In popular locations such as Celerina, Silvaplana and Sils, the price is over CHF 20,000, and in St. Moritz it can be up to CHF 25,000. In the luxury segment, however, significantly higher prices are achieved, which in exceptional cases can reach CHF 40,000 or more per square metre. Overall, the property market in the Engadin is stable, with prices rising in the more exclusive locations. Supply remains limited due to low construction activity, which continues to support prices. Nevertheless, demand is more differentiated:
«Buyers are increasingly looking for value for money and particularly appreciate a good location,» explains Franco Giovanoli.
Regions in focus
Price development of condominiums in the Upper Engadine. Source: Ginesta, Wüest Partner
In the lake municipalities of Sils and Silvaplana, prices for condominiums continue to rise, with peak values of up to CHF 26,000 per square metre for luxury properties. Prices for single-family homes are also high, with houses in new condition fetching up to CHF 28,000 per square metre in both municipalities. Prices for residential property have risen by more than 150% since the turn of the millennium. However, the supply of available properties remains tight, with particularly low supply rates for condominiums and single-family homes.
St. Moritz remains the top holiday destination in Graubünden with unbroken appeal, which is reflected in the dynamic property market. The highest prices per square metre in the region are achieved here, at up to CHF 32,000 for luxury properties. Prices of up to CHF 40,000 per square metre are common, particularly on the Suvretta slope and in exclusive locations. Demand remains high despite increased price sensitivity, although supply is limited at only 2.3% for condominiums and 2.5% for detached houses.
The four central Engadin municipalities of Celerina, Samedan, Bever and Pontresina continue to be popular holiday destinations, which also has an impact on property prices. Prices for condominiums in upmarket locations range from CHF 17,000 to over CHF 21,000 per square metre, while luxury properties are even more expensive. Depending on the location, single-family homes can fetch up to CHF 30,000 per square metre, and even more for exclusive properties. The second-home market remains robust, with moderate supply quotas and stable prices that have continued to rise since 2020.
The four municipalities of La Plaiv continue to be sought-after holiday destinations with solid demand on the property market. The low number of residential properties and the attractive natural surroundings as well as well-preserved, historic Engadin houses contribute to high prices per square metre. Prices have continued to rise in recent years, particularly for luxury properties. The supply of properties remains limited, with low supply ratios of 0.7% to 3% for condominiums and single-family homes, which keeps the market stable and efficient.
An optimistic outlook
Despite the increased transaction times, Franco Giovanoli is positive about the future: «We expect stable to slightly rising market prices in the coming months, similar to the development of the inflation rate.» This assessment is based on the continued high attractiveness of the Engadin and the limited supply of property in the region. For property owners, this means that their properties remain a sought-after investment. At the same time, a realistic assessment is recommended when planning to sell in order to minimise transaction times and achieve the optimum price.
Comprehensive market analyses and data
You can find in-depth insights into the Engadin property market in the detailed market reports, available at the Ginesta office in St. Moritz or as a download here.
Personalised advice is the key to success
«A personal consultation on site is the best way to realistically assess the actual value of a property,» emphasises Giovanoli. Would you like a personal consultation? Make an appointment today. Franco Giovanoli and his team will be happy to assist you with their extensive knowledge of the market.
Foto Sils: Luzi Seiler
