Special Feature

Silva, Andermatt Swiss Alps: A rare chance to own alpine property in stunning Switzerland

By EdgeProp Singapore

/ Benham & Reeves |

October 1, 2021 5:18 PM SGT

Andermatt is located over 1,400m above sea level in Switzerland’s Ursern Valley

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“Of all the places I know, this is the dearest and most interesting to me.”

This was how famed German writer Johann Wolfgang Goethe described Andermatt, a mountain village located in Switzerland’s Ursern Valley. Tucked among the majestic snow-capped mountains of the Swiss Alps, Andermatt, located 90 minutes from Zurich, has evolved from being a hidden gem to an up-and-coming destination for locals and tourists alike.

The picturesque village sits over 1,400m above sea level and was historically known among skiers for its steep, long pistes and deep-snow descents. But over the last decade, Andermatt has been revitalised through the development of Andermatt Swiss Alps, a vast integrated holiday resort encompassing hotels, chalets, apartments and a host of other facilities that have transformed the village into a year-round destination.

Andermatt has another distinct quality: it is the only place in Switzerland where foreigners can buy property without being subjected to restrictions. Under Switzerland’s “Lex Koller” laws, international buyers are required to obtain special permits and fulfil a host of requirements that make it difficult to own Swiss properties. Andermatt, however, was granted a blanket exemption from these regulations.

That, combined with Andermatt’s multi-faceted offerings, has driven huge interest for properties there, says Maureen Yeo, regional director, Asia, at Andermatt Swiss Alps AG (ASA), the developer for the resort. Earlier this year, units for ASA’s Koya development, a building comprising 34 mezzanine-style apartments, were snapped up within two weeks of its launch. Another upcoming apartment development in the pipeline, Mira, already has a substantial waiting list for the 18 available units, she adds.

Tucked among the majestic mountains of the Swiss Alps, Andermatt is a popular ski destination during the winter months

The latest apartment block to debut is Silva, with just six limited-edition units in a low-rise block with retail outlets on the ground floor. The apartments are a mix of two- and three-bedroom types, with sizes ranging between 1,022 and 1,420 sq ft. Prices will start from CHF1.6 million ($2.3 million).

Silva will debut in a series of exclusive overseas launches conducted by Benham & Reeves, starting with Singapore on Oct 9, followed by Hong Kong on Oct 31 and then Dubai. “We want to give [investors in Singapore] a chance to have the first pick of the units before we launch in Europe,” says ASA’s Yeo.

Doris Tan, regional director at Benham & Reeves, the exclusive marketing agent for the project, sees the units at Silva as an “attractive alpine property opportunity” for discerning investors. “I’m very excited about this,” she enthuses.

Immersed in nature

Silva is designed by architect David Marquardt of Zurich-based architecture firm MACH. The design is inspired by the Japanese concept of shinrin-yoku, or “forest bathing”. The term, which originated in Japan in the 1980s, refers to bathing one’s senses in the forest atmosphere.

Silva is inspired by the Japanese concept of shinrin-yoku, or “forest bathing”

At the heart of shinrin-yoku is the idea of slowing down, practising mindfulness and reconnecting with nature – a pursuit that has become all the more meaningful since the pandemic unfolded. “It’s a very popular concept in Europe right now,” Yeo remarks.

Silva is designed to reflect Andermatt’s rugged natural beauty, incorporating elements of wood and other natural materials. In addition, the building will be the only one at Andermatt Swiss Alps that will have its own roof spa housed within a glassed enclosure. Residents will be able to soak in a hot spring-style spool while enjoying stunning views.

Yeo also highlights that the units were designed with versatility in mind, another nod to the pandemic and how it has changed the way property owners utilise space. The apartments feature movable bathtubs that can be shifted from a corner of the master bedroom to the en suite toilet area when not in use, thus freeing up the space to be used for other purposes, such as a home office. “We wanted [owners] to be able to create additional space and have more flexibility,” she explains, noting that this is another design feature that is becoming popular in Europe.

Silva will be the only building at Andermatt Swiss Alps that will have its own roof spa

Silva will begin construction in 2022 and is targeted for completion in 2023.

Year-round destination

Residents at Silva will be spoilt for choice in terms of activities. Beyond the breathtaking scenic views, ASA has invested heavily in the infrastructure and attractions at Andermatt, promising a stunning retreat no matter which time of the year.

The SkiArena at Andermatt Swiss Alps offers various routes and terrains that cater to all skill levels

In winter, skiers and snowboarders take to the SkiArena At Andermatt Swiss Alps, the largest ski resort in central Switzerland. The resort offers over 180km of slopes across a diverse range of terrains that cater to every level. There are also trails for cross-country skiing, winter-hiking and snowshoeing.

During the warmer months, Andermatt offers a slew of outdoor recreation, from cycling and rock climbing to beautiful running and hiking trails. There is also an 18-hole golf course that offers golfers a unique challenge given the alpine conditions as well as gorgeous scenery. Another must-visit spot is the Andemarmatt Concert Hall. The 650-seat hall offers an array of performances throughout the year, and also serves as a venue for the annual Lucerne Festival, one of the leading international festivals for classical music.

Other notable developments in Andermatt Swiss Alps include luxury hotel The Chedi Andermatt, as well as four-star hotel Radisson Blu Reussen. When fully completed, the resort will have 42 apartment buildings, 28 chalets and six hotels.

The redevelopment of Andermatt has transformed it into a year-round destination

Not just an investment

According to Benham & Reeves’ Tan, much like the rest of the world, Covid-19 has brought about a shift in priorities for Singaporeans. “People have begun to focus more on enjoying life,” she remarks.

This change in mindset, Tan says, extends to what properties Singaporeans are choosing to invest in. To that end, properties at Andermatt Swiss Alps hold great appeal. “People can understand that they are buying something to enjoy and also for investment,” she highlights.

In terms of capital appreciation, ASA’s Yeo notes that Andermatt is hard to beat. “In terms of capital appreciation, we are the best-performing alpine destination,” she says, citing an annual capital appreciation of 5% for Andermatt properties for the next five to 10 years according to forecasts by UBS.

In addition, the properties offer a chance to earn a recurring income stream. Owners of Silva and other properties at the resort, when not using their units, have the option of renting out their apartments to holiday guests through the developer’s rental programme, which is managed by Radisson Blu Hotel. The programme is based on an 80:20 split in net revenue between the owner and management; and owners can expect an annual return of between 2% and 3%, Yeo estimates. “Owners will retain unrestricted access to their unit when they are in town,” she adds.

Benham & Reeves’ Tan (left) with Yeo of ASA: People can understand that they are buying something to enjoy and also for investment

To top it off is the ease of the buying process, says Tan, especially the availability of financing: Foreign investors can apply for a mortgage from Swiss banks such as Bank of Geneva or UBS.

For Singaporeans intending to purchase units at Silva, Benham & Reeves will walk buyers through the process, including facilitating financing arrangements. “We make it a smooth-sailing process, arranging everything, including the bank loan,” says Tan.

Andermatt Swiss Alps - Silva Launch in Singapore

Date: Oct 9-10, 2021 (Saturday - Sunday) Time: 11am - 6pm
Venue: 328 North Bridge Road #02-24, Raffles Hotel Arcade, Singapore 188719 (By Private Appointment only)

Contact: Mrs Doris Tan - CEA Registration No R016994G
Email: doris.tan@benhams.com
Tel no.: 96327334

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