Switzerland’s Andermatt has emerged as the top-performing alpine destination in Europe, according to the 2026 Knight Frank Alpine Property Report. The village in the Swiss Alps saw the highest annual growth in prime property prices as of June this year, at 14.6%.

This is significantly higher than the market average of 3.3%, and beats other popular alpine destinations such as Switzerland’s Davos (10.5%) and Italy’s Cortina (10%). Knight Frank adds that on average, Swiss Alpine markets registered 5% annual growth, outperforming the 1.2% average growth for French markets. 

According to the report, Andermatt’s strong performance is underpinned by its exemption from Switzerland’s Lex Koller and Lex Weber laws. The Lex Koller restricts foreign ownership by allowing non-residents to only purchase holiday homes within designated tourist zones, with a maximum living space of 2,152.78 sq ft. 

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The Lex Weber, enacted in 2012, limits the share of secondary or holiday homes in Swiss communities to 20% of the existing housing stock. Many resorts have already hit the limit, effectively banning new-build second homes, the report adds.

As Andermatt is exempt from these laws, it is one of the few prime Alpine destinations where foreigners can purchase and resell property freely. Knight Frank’s report notes particular interest among US buyers for Andermatt properties.

However, interest is also growing from Asian buyers. Maureen Yeo, regional director of Asia for real estate developer Andermatt Swiss Alps, says enquiries from Hong Kong and Singapore buyers have risen approximately 20% in the last year. She adds that buyers seeking stability, asset preservation and a currency hedge are drawn to Andermatt, where they have the opportunity to acquire a freehold, Swiss-Franc-denominated asset.

More broadly, Knight Frank’s report shows Alpine property markets are evolving beyond their traditional role as seasonal getaways. Instead, more buyers are seeing it as a year-round destination, supported by remote work trends, a boost in summer tourism, and more lifestyle offerings and amenities available throughout the year. A survey among high-net-worth individuals (HNWIs) by Knight Frank found that 73% would consider living full-time in the Alps.

Ultimately, alpine homes have become “resilient, year-round retreats combining lifestyle, stability and strong investment performance”, the report adds. As interest continues to grow, the Alpine market is expected to see further activity in the coming years, supported by the 2026 Winter Olympics that will be held in Italy’s Milano Cortina, along with evolving regulations and rising summer demand.