The Higher the Better: Climate Change and House Prices in Swiss Ski Resorts 2001-2020

Higher altitudes and lower temperatures in Swiss ski resorts are linked to increased house price appreciation between 2001 and 2020, unlike in non-ski resort municipalities. This counterintuitive trend suggests that buyers may prioritize snow-reliant areas over traditional climate risks like flooding. The study analyzed 303 municipalities across 45 ski resorts using panel regression, examining altitude, temperature, and snow cover duration. While no direct link was found to snow cover changes, indirect economic factors such as income and tourism were also explored. These findings challenge conventional assumptions about climate change impacts on property values.

Fuerst, F., & Blok, F. (2024). The Higher the Better: Climate Change and House Prices in Swiss Ski Resorts 2001-2020. 30th Annual European Real Estate Society Conference. https://doi.org/10.15396/eres2024-085