Special Feature
Andermatt Swiss Alps to launch new apartment block Yara in Singapore
By Benham & Reeves
/ EdgeProp Singapore |
At Andermatt, foreign buyers are able to purchase Swiss property without restrictions (Picture: Andermatt Swiss Alps)
Switzerland, a much-beloved travel destination for many, has seen a massive rebound in foreign tourists after the country lifted most of its Covid-19-related travel restrictions in February.
Data compiled by the Swiss Federal Statistical Office shows a near 213% y-o-y increase in the number of overnight stays at Swiss hotels by foreign tourists to 6.9 million during the first half of the year. The Swiss government also relaxed most of its safe-distancing measures, further signalling a return to normalcy in the aftermath of the pandemic.
At Andermatt Swiss Alps, an integrated holiday resort located in the mountains of Switzerland’s Ursern Valley, visitor numbers have already returned to pre-pandemic levels, says Maureen Yeo, regional director, Asia, at Andermatt Swiss Alps AG (ASA), the resort’s developer. “The number of visitors to Andermatt so far this year has already exceeded last year’s figures,” she adds.
Yeo attributes this healthy showing to Andermatt’s transformation over the last decade from a predominantly ski-focused attraction into a year-round alpine destination with hotels, a golf course and other leisure facilities that attract a steady stream of domestic and international visitors.
Andermatt’s development includes residential properties, which have also enjoyed resilient interest from buyers around the world. Launches this year such as Pazola, a 19-unit luxury apartment offering two- and three-bedroom units, and Silva, a smaller apartment with just six exclusive units, have all been snapped up.
The latest apartment block to launch at Andermatt will be Yara, which comprises 24 units. The project will make its debut to Singapore buyers at a launch event held by marketing agent Benham & Reeves on Oct 22 and 23 at The Great Room, Raffles Hotel Arcade.
Doris Tan, regional director at Benham & Reeves, is expecting keen interest in the project from discerning buyers. “Singaporeans are well-travelled and many are already familiar with Switzerland. They will recognise this as a rare opportunity to invest in a high-quality asset in this one-of-a-kind destination,” she says.
To be sure, Andermatt has a unique quality that makes it stand out – it is the only place in Switzerland where foreigners can buy property without being subjected to restrictions. Under Switzerland’s “Lex Koller” legislation, foreign buyers face stringent stipulations that make it difficult to own Swiss properties. Andermatt, however, was granted an exemption from these regulations.
Yara is the latest apartment block at Anderrmatt that will be launched to Singapore buyers on Oct 22 – 23 (Picture: Andermatt Swiss Alps)
Cosy design
Yara offers predominantly two-bedroom units with sizes starting from around 1,011 sq ft. There are also three-bedroom units starting from 1,292 sq ft, and five duplex penthouse units with sizes starting from 1,615 sq ft. Prices for the units start from CHF1.28 million ($1.84 million).
According to ASA’s Yeo, Yara’s architectural design incorporates traditional alpine elements for its exterior, including wooden shingles and a structured roof, which help protect the building against the harsh elements of an alpine environment.
In contrast, the interior of the building has softer design elements that exude a sense of comfort and cosiness. These include the building’s floor plates which feature a pentagonal motif inspired by a blooming rose, as well as the round-cornered walls and muted-coloured floors. “It’s a design that’s very warm and inviting,” Yeo says.
The combination of traditional architectural elements with contemporary design elegance lends an interesting juxtaposition as well as a beautiful aesthetic that residents will enjoy. The exterior architect for Yara is Blaser Architekten, an architecture firm based in Basel, while the interior design was crafted by architect and interior designer David Marquardt of Zurich-based firm MACH. Marquardt also worked on design for the Silva development at Andermatt.
Alpine living
Located within the Swiss Alps, Andermatt is naturally blessed with ideal conditions for skiing and other snow sports, with long pistes and pristine snow conditions during the winter. Whether skiers are looking for a relaxed day on the slopes or a more adventurous time on steep mountain trails, the ski resort at Andermatt, known as the SkiArena Andermatt-Sedrun, has garnered a reputation as one of the top ski destinations worldwide.
Andermatt’s ski offerings are expected to be further enhanced following a new partnership inked between ASA and New York-listed mountain resort company Vail Resorts this year. In August, Vail Resorts, which operates several ski resorts across the US, announced a CHF149 million investment in SkiArena Andermatt-Sedrun in return for a majority stake in the resort’s holding company. A majority of the investment proceeds will be channelled toward enhancing the resort’s ski infrastructure and leisure offerings.
While Andermatt shines for its skiing during the winter, the warmer months showcase a different but equally stunning facet of the alpine lifestyle, including lush scenic landscapes that offer a vast array of outdoor activities such as hiking and cycling.
In addition, developments at Andermatt — including hotels The Chedi Andermatt and Radisson Blu Reussen, an award-winning golf-course, and the Andermatt Concert Hall — provide a slew of culinary offerings, leisure facilities, and cultural experiences for visitors to enjoy.
Andermatt has garnered a reputation as a top ski destination during the winter months (Picture: Andermatt Swiss Alps)
Investment appeal
According to UBS, prices for Swiss vacation homes rose almost 10% y-o-y in 2021, the biggest jump in the past 12 years. In its annual report that ranks Swiss destinations by prices of vacation homes, Andermatt came in at number 10 for this year’s rankings, four positions higher than the 16th-place ranking it garnered the previous year. The report also highlighted that property prices in Andermatt rose 10% y-o-y in 2021.
For Benham & Reeves’ Tan, the report’s findings reflect the growing demand for Andermatt properties and the long-term capital appreciation potential for property owners there. Yeo concurs, noting that as the developer continues to launch more apartment blocks, prices will likely increase with each launch, buoyed by Andermatt’s overall growth as a lifestyle destination. To that end, Tan notes that the launch of Yara provides a timely opportunity for Singapore buyers to tap into the long-term potential of Andermatt.
As with other residential properties at Andermatt, owners of apartments at Yara have the option of renting out their unit to guests through ASA’s rental programme, which is managed by Radisson Blu Hotel and works on an 80:20 split in net revenue between the owner and management. Owners can expect an annual return of between 2% and 3%, Yeo shares. In addition, they will retain the use of their unit when they are in town.
Andermatt Swiss Alps - Yara launch in Singapore
Date: 22 - 23 Oct, 2022 (Saturday - Sunday)
Time: 11am - 6pm
Venue: 328 North Bridge Road #02-24, Raffles Hotel Arcade, Singapore 188719
Contact: Doris Tan (R016994G)
Email: doris.tan@benhams.com
Contact no: +65 9632 7334
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