Turbulent is one way to describe 2020, and there’s no doubt that the uncertainty of the last year had an impact on our desire to plunge into making a big ticket purchase, at least in the early part of the year. As we move through 2021 it feels as though the end is in sight - for wealthier nations at least - and the powerful combination of potential growth plus a new attitude towards how we live means that following a dream is not only desirable, it’s becoming increasingly possible.
Are we really heading towards a post pandemic boom?
The experts seem to think so. A recent article in The Economist points out that the historical response to similar crises, going as far back as the cholera epidemic 1830s France, is the onset of an economic boom.
The twin factors of accumulated savings and pent up enthusiasm to “get back out there” mean people can and will spend, as soon as they possibly can. Others are more cautious - after all a true economic boom hasn’t been seen since the 60s - but as Jan Hatzius points out in this article from the The New York Times, we are at the very least in a v-shaped recovery - a steep fall followed by a steep rise.
This doesn’t mean we can expect a debauched frenzy - history also teaches us that people are cautious after this type of event - but it does mean that new approaches and attitudes formulated during prolonged lockdown have the potential to come to fruition, simply because the money is there to make dreams happen. Damage is less acute than feared in spring last year, and whilst we can expect fluctuations and perhaps minor setbacks, the overall trajectory is positive.
What does a post pandemic boom mean for people buying ski property?
In our article Do ski properties hold the key to the new spirit of YOLO? we talk about the emergence of a new attitude and a new enthusiasm for seizing the moment that has seen an upsurge in people following their dream of buying a place in the mountains.
Other factors, like an increased understanding of the possibilities offered by remote working, and the way owning something like this house in Chamonix could improve work-life balance means that for many people a ski property has gained potential as a primary residence. If the projected boom comes to fruition, bringing predicted growth of up to 6% GDP, then the possibility of increased demand for ski property seems distinctly possible.
What sort of ski property could I invest in?
The usual property hunting rules still apply. First consider what you want your new home in the mountains to offer. Are you looking for a ski apartment that’s convenient for a short break? Or do you think the time has come to make a more permanent home in the mountains, free from worries about travel restrictions, and embracing the lifestyle of hitting the slopes before work and chilling in the hottub at night? Perhaps you’re hoping for a ski property that holds high potential as an investment and will be ripe to capture the newly enthusiastic rental market?
Once you’ve decided what kind of place you’re looking for, then it’s time to pinpoint the location, and our buyers guides are really helpful for this. Things like ease of travel and facilities are a given, and if you’re looking for a more permanent home then choosing a proper working town is essential. We’ve written several articles on resort town living and moving to the mountains which have plenty of useful tips to help with your search.
How can I make the most of the post-pandemic boom?
We really think this is a great time to take the plunge and buy the ski property of your dreams. As people begin to travel again, then the rental market will spring back to life, and investors will want to be ready. Alternatively if you’ve always dreamed of embracing the mountain lifestyle, then the last year has taught us the value of seizing the moment and making sure your home is somewhere you truly want to be.
SnowOnly is a ski property portal, which means we’ve access to thousands of properties. Our property alert system means you’ll be first to know when your dream ski property comes up, and our detailed property search facility means you can pinpoint exactly the right place to begin to live your post-pandemic dream.