Andermatt Swiss Alps reports record real estate sales

According to Andermatt Swiss Alps AG, in the first ten months of 2020, properties worth more than 85 million were sold (notarizations and reservations), which is an increase of 28% compared to the same period last year. At that time, the volume of sales was 66.7 million. Including sales by partners and other investors, demand had amounted to 120 million.

Six apartment buildings are currently under construction, and construction is scheduled to start on two more buildings in spring 2021. According to Andermatt Swiss Alps, over 70% of the total of 45 apartments in the two buildings Frame and Alma, which will be launched on the market in summer 2020, have already been sold. Demand is equally divided between smaller residential units such as studios and large apartments with several rooms.

Hotel The Chedi Andermatt reportedly recorded significantly more overnight stays in the first ten months than in the same period last year and achieved its highest-ever occupancy rate of 68% (same period last year: 53%). The Radisson Blu Reussen hotel, which focuses on group business and events, was able to increase average room rates despite the lack of business, making up for the loss of MICE guests with individual guests, it said. (ah)