Sixteen thousand euros per square meter. That's what you have to spend if you dream of your Christmas home with a view of the Tofane. If, however, you are satisfied with Mont Blanc, in Courmayeur 9 thousand euros per square meter will be enough for your second home at high altitude. Cortina d'Ampezzo, therefore, confirms itself as queen of the Alps again this year. In the middle, Madonna di Campiglio, 11 thousand euros. These are the most expensive locations in Italy, according to data from the Hbs report (the holding company that controls the Professionecasa, Grimaldi and Rexfin franchising networks). The localities of the Olympic Valleys performed well, led by Sestriere (6 thousand euros). But, what if you have less than 3 thousand euros per square meter in your budget? You have to get off in Abruzzo, in Ovidoli. Roccaraso, on the other hand, has already risen to 4 thousand euros per square meter. Yet even the second home is creaking and deflating, as confirmed by the major market operators. «During the past winter season, approximately 8,000 accommodations were purchased in Italian mountain resorts, compared to 9,000 in the 2005-2006 season - says Mario Breglia, president of Scenari Immobiliari -. And this season it is unlikely that there will be more than 6 thousand sales. Among the causes of the lack of love for the mountains, first and foremost are the prices which are now too high in all areas of the Alpine arc. Furthermore, average prices have risen several points higher than houses in the city and therefore there is little demand. The houses offered for sale are of poor quality: they are often homes built in 1970s condominiums, without views and with high energy consumption. There are few new buildings and prices are even higher than used ones." Guido Lodigiani, head of the Gabetti research office, also points out a worrying trend that is seen especially in less renowned locations: «Houses purchased 5-6 years ago with a 100% mortgage and for amounts of less than 100 thousand euros are being put back on the market today. In many cases because the buyer no longer has the ability to pay the increasingly expensive mortgage instalment. This phenomenon determines an increase in supply while sales decrease. Finally, in many places there are falling prices: this is the case - says Lodigiani - of Cervinia and Bardonecchia. Finally, seasonal rentals were heavily penalized due to the lack of snowfall in past seasons." In Valle d'Aosta, in Courmayeur, at the end of 2006 there was an 8% drop in sales due mainly to the high level reached by sales prices: on average today they reach 7,000-9,000 euros per square meter for homes in the centre, while in Poussey they exceed 10,000 euros. «Excellent performance by Gressoney St. Jean and Gressoney La Trinité, where prices have risen by as much as 35% in the last 4 years - reports Alessandro Ghisolfi of the Ubh Research office -, with peaks of over 5,500 euros per square meter for villas and chalets. In the Val d'Ayas, in Champoluc, prices have remained stable and requests are directed to the municipality and nearby hamlets, in particular to Antagnod and Brusson where prices have grown by 5% in the last 12 months. Demand is recovering in the mountain resorts of the Olympic circuit, such as Sauze d'Oulx, Bardonecchia and Sestriere. In Trentino prices rise especially in small towns a few kilometers from the most famous municipalities such as Ponte di Legno, Marilleva and Folgarida, Ortisei.
source: 'Increasingly higher installments, those who bought resell'
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