Living Moments - N°1 Edition 2013

www.private-residences.net 7TaTYR 8ZXPY_^ 163 What effects does this development have on the Kitzbuehel real estate market, and why are the prices still so consistently high here? With their international prominence and unique- ness, as well as in their extraordinary quality of life,both Kitzbuehel and Mallorca still embody something which many people see as perfection; a piece of “ideal world”. It is particularly the contrast of stylish living in a luxurious home by the sea, or an exclusive and rustic chalet in the Kitzbuehel Alps, which attracts more and more people. It is here, where people long for a little re- treat as a compensation for the daily stresses of working life – a jewel amidst the most exclusive surroundings - in a place, whose hospitality and tradition, allows you to forget everyday worries. So much for the pure emotions which these property markets prompt; but the concrete question on the extraordinary prices which are demanded particularly by the property sellers in Kitzbuehel – how can you explain them? Kitzbuehel has a century-long history and tradi- tion which has developed on its own and which is sustained by fundamental values. Today, the local inhabitants of Kitzbuehel, especially, still embody a cordial down-to-earth quality, which goes far beyond the annual highlights presented in the media, such as the famous Hahnenkamm race at the Streif or the ATP tennis tournament, and others. There is ann organic quality which is simply missing in other world-famous winter sports resorts such as St. Moritz, Madonna di Campiglio or Aspen, due to artificially created attractiveness and a strong dependency on the season. These fundamental values, as well as an extraordinarily high quality of life, surrounded by a safe natural environment are vital factors which have been recognised and appreciated for many years by many international lovers of the town with the chamois emblem. Whether it be enthusiasm for this holiday resort among many Kitzbuehel lovers in the beginning,after a fewyears it leads again and again to the keen desire to own a very private home in the Kitzbuehel Alps, and to be able to call it one’s own. For many years, high demand from international buyers and in- terested buyers has barely been met by the ex- tremely scarce supply r of high-end properties which are available on the market. What do you think causes such a scarcity of available properties in Kitzbuehel and what effect does this have on the property prices? Tyrol is one of the last federal states in Austria, which has very concrete ideas and conservative legal foundations to protect the homeland, the “Dismissed as a pure hobby of the rich and beautiful, it has become a true alternative for many wealthy customers to shape their assets.” tourism lobby as well as to control the so-called “cold beds” – properties which are only used as another residence by foreigners, being uninhabited for the most part of the year. A very restrictive policy of development and designations, particu- larly in the district of Kitzbuehel, has made it rather hard in the last few years to develop new building plots, or receive a designation for a new building project at all. On the one hand this course of action by the authorities has many advantages, as particularly, agricultural estates and farms are being protected and not broken up. The new development of the Kitzbuehel town area and the direct surroundings thus remains protected, and is under control of the local people, as are the effects of the town planning on this location, which is very attached to its native soil. At the same time however, this natural scarcity of land and new buildings results in a correspondingly intense rise in value and price of the proportion- ally few properties and building plots which are currently offered for sale on the market. The seller’s market has easily been able to dictate the prices in the last few years in line with a rise in international demand, because of and beyond the financial crises. Dismissed as a pure hobby of the rich and beautiful, it has become a true alternative for many wealthy customers to shape their assets. More and more, customer and prospective customer demand tends towards valuable properties and plots, which as here in Kitzbuehel, have been able to demonstrate a constant and slightly increasing performance for many years. The plot prices in premium locations of the Kitzbuehel urban region are therefore currently at up to three thousand euros per sqm and more. A correspondingly high-end development, tailored to the individual wishes of demanding customers, against the backdrop of the above-mentioned difficult requirements of the authorities, the over- all effort and the economic risk of a builder or seller, naturally has its price which, if you look closer, can be justified by very high building standards and a constant stability in value over many years, and is proven by demonstrable facts.