Ski Resorts: the Next Best Real Estate Investment
Housing prices are on the rise in ski regions across North America, and recreational property is one of the hottest investments out there right now.
“Despite travel restrictions, prices have continued to climb for recreational property in a ski resort. Last year prices grew on average by 5.1 percent. A report from Realtor.com shows that views of ski-town homes were 72% in 2021, while it was 36% in 2020."
"Particularly the North American ski resorts are hot in demand. Prime property prices of Aspen stand at around US$33,300 per square meter while Vail ski resorts stand at US$28,200.,” comments Kimo Quance from The Kimo Quance Group.
Demand for houses in popular ski areas has increased rapidly worldwide, with low inventory levels putting upward pressure on prices in these areas as more and more people leave the big cities for a more active lifestyle on the slopes.
Inventory, or lack of it, is the leading cause for rising home prices in ski resorts.
In addition to rising home values, you can also expect increased rental income from the recreational property. Recreational home rental prices are on the rise in popular ski destinations, and many ski resorts in Colorado face a housing shortage which is driving up rental accommodation prices.
SWIPE UP TO READ MORE!
Discover more from wealthofgeeks.com