The most sought-after ski resorts in Italy for luxury real estate

The high-end mountain property market in Italy is experiencing significant expansion, further fuelled by the upcoming Milan-Cortina 2026 Winter Olympics, which has drawn global attention to these areas, strengthening their international appeal.

Rising prices and strategic investments

Marina Rizzotto Yakovleva, Founder and CEO of Berkshire Hathaway HomeServices Palazzo Estate Ltd, highlights how this growth trend is being driven by both public and private investments in infrastructure. “In 2024, iconic destinations such as Cortina d'Ampezzo have seen a significant increase in property values, averaging €16,000 per square metre, a 10% rise compared to 2023. Madonna di Campiglio has also followed an upward trend, reaching €13,000 per square metre. Established locations like Courmayeur, Bormio, and Livigno remain solid choices, while emerging destinations such as Livigno and Alpe di Siusi are gaining popularity for their balance of accessible luxury and high-quality tourism offerings. On Lake Como, meanwhile, premium properties have recorded a 20% increase in sales compared to the previous year.”

Looking ahead to 2025, the market is expected to maintain strong momentum, supported by the limited availability of new land for development and the bureaucratic challenges related to obtaining building permits.

New frontiers: emerging locations and promising investments

Alongside traditional destinations, the report highlights a growing interest in emerging locations. “Compared to a decade ago, we are seeing a rising demand for lesser-known but rapidly growing areas, thanks to improved infrastructure and more competitive pricing. Sestriere, with an average price of €6,000 per square metre, is among the most sought-after destinations. Another notable example is Arabba, in the heart of the Dolomites, positioning itself as a ‘new Cortina’ due to its authenticity and strategic location within the Dolomiti Superski area. These locations are attracting an increasing number of international investors, confirming their long-term growth potential.”

The role of foreign and domestic buyers

The Ski Report 2025 also highlights the crucial role of foreign buyers, who represent a significant share of the market. Drawn by the natural beauty, local culture, and exceptional gastronomy, international buyers – primarily from Germany, the United Kingdom, Switzerland, and the United States – are particularly interested in luxury chalets, with values exceeding €10 million. For these investors, properties are not only a source of personal enjoyment but also a strategic asset, given the stable returns generated by high-end short-term rentals.

On the other hand, Italian buyers, mostly upper-middle-class families, tend to prioritise second homes for holidays, opting for iconic and comfortable destinations.

New lifestyles and the demand for sustainability

The pandemic has led to a shift in housing priorities, with many individuals now considering the mountains not only as a holiday retreat but as a semi-permanent residence. This has fuelled demand for sustainable properties that are well-connected to ski facilities and essential services. Eco-friendly chalets are an increasingly popular segment, offering strong investment potential and long-term value appreciation.

Investment opportunities: the time to act is now

For those looking to invest in luxury mountain real estate, the message is clear: act quickly. Seasonal rentals offer high returns, with occupancy rates exceeding 75% during peak season and rental prices reaching €20,000 per week for exclusive chalets. Moreover, the growing focus on eco-friendly solutions and the limited availability of new development opportunities suggest a continued rise in the value of high-end properties.

Finally, the strategic location of Italy’s mountain resorts, with efficient road and airport connections, further enhances their appeal, making them an increasingly attractive option for investors and buyers worldwide.