Switzerland dominates the Alpine holiday home market, with all five most expensive resorts located in the country. Gstaad leads the ranking, where prime chalets and apartments cost around CHF25,000 per square metre on average. + Get the most important news from Switzerland in your inbox In second place is Engadin/St. Moritz, with prices of CHF24,000, while Verbier, Andermatt and Zermatt complete the top five, with prices starting at CHF21,000 per square metre, according to a study published on Thursday by UBS. Among foreign resorts, France’s Courchevel is the priciest (about €20,000), ahead of Kitzbühel in Austria (€16,000) and Cortina d’Ampezzo in Italy (€13,000). The growth of Alpine tourism, the Winter Olympic Games and lower financing costs have given new impetus to the prices of homes in mountain regions. Alpine holiday flats across European resorts rose by almost 4% over the past year, faster than in 2024 but still below the record levels of the boom years from 2021 to 2023.