St. Moritz – pedigree and exclusivity since 1864
St. Moritz is synonymous with a world that exists in very few locations today. Founded in the latter half of the 19th century as a Spa resort, it is considered the birthplace of luxury winter tourism. Its Romansch language, proximity to Italy, and predominantly German-speaking population make St. Moritz a melting pot of three distinct cultures.
It evokes a place where grand 5-star hotels and Michelin star restaurants are two a penny, of dashing aristocrats on the Cresta run and Polo matches on the frozen lake sponsored by Cartier. It is also a first class winter sports venue having hosted the Winter Olympics twice, the International Bobsleigh and Skeleton World Championships 21 times, and four FIS Alpine World Ski Championships. The annual Engadin Skimarathon attracts over 10,000 competitors to race around the lake over a half marathon distance.
The resort has access to extensive skiing in the Engadin valley in four distinct ski areas. With an altitude range of 1730-3305m, it gets good snow, the pistes are perfectly groomed, the panoramas are magnificent.
St. Moritz is a town, not an alpine village, it has a year round population of around 5,500. Visitors are immediately struck by the almost urban ambience of St. Moritz Dorf, with its large hotels and glitzy shops. More typical Swiss mountain villages are to be found elsewhere in the valley. At the bottom of the Cresta run, Celerina is quiet and unspoilt, and also has access to the Corviglia ski area. At the other end of the valley, Sils Maria has all the charm you could imagine, with nearby access to the Furtschellas-Corvatsch mountains; this ski area is also accessed from Silvaplana-Surlej, mid-way along the valley.
But it is not all sports - St Moritz is a major player in the art world, with the Segantini Museum and a multitude of other galleries, exhibitions and concerts. It is architecturally quite adventurous, for example the Norman Foster (also a property owner here) designed Chesa Futura comprises 10 exclusive private suites; and the quattro BAR on Corviglia, a modern interpretation of a traditional Alpine ski lodge.
A car here is useful to get around the valley, which is some 2h40m from Zurich and 2h50m from Milan by road. The nearest international airport is in Zurich, while the private airstrip at Samedan is 5 km. From here, Air Corviglia flies from/to major European and UK cities and smaller airports in the Mediterranean and Northern Europe.
Property in St. Moritz
Famous and wealthy patrons have owned property here for generations, it is often the first choice for global billionaires. St Moritz is popular for families relocating to the area thanks to the Lyceum Alpinum in Zuoz, an internationally renowned boarding school that offers the International Baccalaureate and the Hochalpine Institut in Ftan.
Like other top-class Swiss ski resorts, it is not an easy market to navigate. Ownership restrictions follow the Swiss rules, with limited new development, limits to second home numbers, and a cap on foreign ownership. With the total stock growing by just 1% per year at most, it is no surprise that St. Moritz regularly tops the price league tables in the Alps.
Chalets in and around St. Moritz are rare and sought after, apartments account for more than two thirds of the overall pool of property. New or re-developments – often Aparthotels - come and go, they sell out quickly. As you might expect, the official figures do not tell the whole story: high quality apartments sell for up to CHF 25-35,000/m2, while exclusive rarities can fetch even more. Indeed, the Suvretta hillside continues to be one of the most sought-after areas where prices start at CHF 40,000/m2 and can reach CHF 75,000/m2 for the most exclusive chalets. Since the turn of the millennium, prices in all market segments have risen by more than 150%, and by 45% in the last two years.
For property buyers in St. Moritz, probably more than any other major mountain destination we can think of, patience is required. Turnover is 3-6% of the total stock, properties for non-residents are a small portion of this. Outside the centre, for example in Celerina, Silvaplana and Sils Maria, prices are generally in the CHF20-30,000/m2 range, these are smaller and low turnover markets.
St. Moritz ski area
In winter, one of the largest and most diverse ski areas in Switzerland attracts visitors with a total of 88 pistes, more than 220 km of cross-country trails and 13 natural ice rinks. The main ski areas are Corviglia-Piz Nair, Corvatsch-Furtschellas, Diavolezza and Lagalb. Together, they offer up over 300km of pistes served by 42 lifts – several of which have seen upgrades in recent years.
Only Corviglia-Piz Nair, with 155km, is accessible from St. Moritz. Corvatsch is the other major ski area and is home to 120km of slopes, mostly rated red and blue, offering some fantastic high altitude pistes topping out at 3303m; and with skiing on the glacier, this is a very snow sure area. Diavolezza-Lagalb is for skiers who relish steep and long runs, on mostly north-facing routes that are renowned for holding on to excellent snow conditions.
Summer in St. Moritz
St. Moritz has something to suit everyone in the summer months: whether mountain biking, hiking and climbing, sailing and rowing, paddle-boarding, surfing and kiting, fishing, playing golf, tennis, or squash, or simply walking up to a mountain lake for a swim. And it should be sunny, the valley is reputed to have 300 days of sunshine annually. The Engadin’s lakes are perfect in the summer for sailing, kitesurfing or just a quick dip. The three golf courses, including Kulm Golf St Moritz, one of Europe’s highest, will satisfy the most demanding golfers.
Up on the mountain there are 580 km of hiking trails, 17 climbing parks, and 400 km of mountain bike trails.
For motoring enthusiasts, the annual British Classic Car Meeting St. Moritz is a worthy excuse for a road trip. But that isn’t all, the annual ICE concours for historic cars takes place in February, on the lake. After all, St. Moritz is not an ordinary destination.