Properties in the mountain tourist areas have become more interesting for investors, according to a report by Savills, with demand having grown significantly in the first quarter of this year.
The first quarter of 2021 was particularly acute for demand. Transaction volumes doubled over the previous year and fierce competition emerged, especially for prime property in the most exclusive resorts. Properties that had previously been for sale for a few months – or even years – suddenly found buyers who were keen to escape the confines of towns and cities, and who were supported in doing so thanks to government-endorsed homeworking policies, says the Savills report.
Although it would be unrealistic to expect Romania to ever reach the top of ski destinations in Europe, Romanian mountain resorts have a high development potential and could attract investors in the coming years. "The advantage of an investment in a property located in a mountain resort is given by the fact that here the tourism is constant, unlike the summer tourism, for example. Thus, owning a mountain property ensures a stable income throughout the year. Developers have already appeared on the local market, offering the possibility to invest in properties located in mountain resorts such as Brasov or Sinaia", Ilinca Timofte explains, Research Analyst Crosspoint Real Estate.
Given this opportunity, in the coming years, such assets could attract a number of investors, mostly local. "For this kind of alternative asset to become attractive for institutional investors, mountain resorts in Romania should attract a significant number of foreign tourists, and this depends mostly on public investment in promoting and developing areas with tourism potential from our country”, Timofte adds.
Before the pandemic, purchasing a ski property was increasingly viewed as an investment in a certain lifestyle, and the experience of Covid-19 restrictions has catalysed a serious desire among the world’s wealthy to achieve it. Following successive lockdowns, people are seeking fresh air, open spaces and, in short, the good life. And with that, ski property has never been more sought after, according to the study.
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