Dubai – It’s a life time opportunity for property investors to buy an apartment of the ultra-exclusive luxurious Grace St. Moritz Apartments project in Switzerland.
St. Moritz is a glamorous mountain resort in the Engadin Valley is a year round destination and continues to be one of the most exclusive places to live and spend time, with a very limited supply of properties available to buy by non-Swiss nationals.
Apartments range from luxury studios to a four-bedroom mezzanine apartment. There is also a two bedroom penthouse with a spacious roof terrace. Prices start from CHF740,000 (£613,585) for a studio and CHF9,900,000 (£8,010,064) for a penthouse.
Since the launch, earlier this year, the Grace Hotels group has received high levels of interest from a variety of nationalities including Middle Eastern, UK, European, Russian and Chinese buyers.
Alex Koch de Gooreynd, Partner, Knight Frank comments: “Clients from the Middle East head to the Alps during the summer between June and September. These clients are delighted by the green lush landscapes, stunning lakes and white capped peaks with a desire to embrace the healthy lifestyle that’s on offer in abundance. Interest in the Alps from clients from the Middle East is not new as wealthy families have graced both Swiss and French resorts such as St Moritz, Gstaad and Megeve for many years.”
Alex added: “However the recent trend is more focused towards buyers being driven by health and wellbeing, those who prefer their families to enjoy a healthy summer in the mountains rather than central London, Paris or Milan, typically preferring those residences that are walking distance to a resort centre and increasingly with a preference towards serviced style residences as this reduces the need to travel with staff.”
Switzerland is arguably the world’s ultimate safe haven, and as a result continues to attract new residents drawn as much by the security, privacy and educational facilities it offers. The fragility of the global economy, escalating geopolitical crises and the increased regulation and taxation of property in key global cities is driving wealth towards Switzerland.
With the local property market largely closed to overseas purchasers, Grace St. Moritz Apartments represent a rare chance for long-term investment. A unique ownership concept enables non-Swiss nationals to acquire a freehold apartment in St. Moritz and to earn revenue by renting all or part of it back to hotel guests when not in residence.
Speaking to The UAE News exclusively, the Chief Executive Officer of Grace Hotels, Robert Swade talked about the Grace Hotel brand, its current portfolio as well as growth plans and upcoming projects.
Swade explained that Grace St. Moritz Apartments is a collection of 17 exclusive apartments serviced by the highly anticipated new Grace St. Moritz hotel, scheduled to open in 2019. Offering a rare opportunity to purchase a home in this iconic Swiss resort, Grace St. Moritz Apartments combine the amenities of a luxury residence with the service levels of a celebrated hotel group.
Below are the excerpts from the interview:
What is the status of the project as of now?
Grace St. Moritz is the latest hotel project for the hotel group Grace Hotels which includes 17 apartments for sale. Grace Hotels is a leading luxury boutique hotel group renowned for its award-winning hotels, resorts and spas in the world’s most stylish destinations from Greece and Morocco to the Americas. This is Grace Hotels’ first venture into the Alps, in the exclusive resort of St. Moritz in Switzerland. The 17 exclusive apartments will be serviced by the hotel, which is scheduled to open in 2019.
Are you getting inquiries from the Middle East?
Since the launch earlier this year we have received high levels of interest from a variety of nationalities including Middle Eastern, UK, European, Russian and Chinese buyers. The motivations vary amongst purchasers though they tend to share common interests in dual season alpine pursuits including skiing, hiking, mountain biking, sailing and windsurfing. Our purchasers are also drawn to the prospect of owning a trophy home in one of the most exclusive locations in the world – the rarity of the opportunity is clearly a driving factor in the interest that the apartments are attracting.
How is the real estate market in Switzerland in terms of return on investment?
St. Moritz is one of the most exclusive alpine resorts in the world and with the local property market largely closed to overseas purchasers, Grace St. Moritz Apartments represent a rare chance for long-term investment. A unique ownership concept enables non-Swiss nationals to acquire a freehold apartment in St. Moritz and to earn revenue by renting all or part of it back to hotel guests when not in residence. Grace Hotels will take care of all the servicing, maintenance and marketing to guests.
What makes Grace Hotels popular as a brand?
Grace Hotels is an exclusive, privately owned group of luxury boutique hotels in the world’s most stylish destinations and resorts. Grace Hotels believes in the bespoke approach, creating a truly individual experience for each of their guests. All the hotels are also distinctly authentic, paying homage to and making the most of their superb locations. Furthermore, gastronomy is in our blood. We have talented passionate chefs all around the world cooking wonderful local and international dishes. From our two Relais & Châteaux hotels in New England to Greece and Latin America, our acclaimed and award-winning chefs are at the forefront of today’s culinary scene.
What’s the size of your current portfolio of properties?
There are currently eleven hotels open and under development including Grace Mykonos and Grace Santorini in Greece in addition to Grace Cafayate in northern Argentina. The company also has a collection of historic heritage hotels: Grace Mayflower Inn & Spa in Connecticut, Grace Vanderbilt in Rhode Island and Grace White Barn Inn & Spa in Maine. Grace Hotels continues to expand globally. Hotels under development include Grace Marrakech in Morocco, Grace St. Moritz Hotel and Apartments in Switzerland and La Dolfina Grace, located on a polo estate Argentina.
What’s your growth plan?
Our aim is to grow and develop the Grace brand on a global basis. Our focus will be on key destinations which enhance the brand and our global footprint. Our growth plan is not about a defined number of hotels; it is about ensuring that we have the right product, in the right location, with the right owner relationship structure.
Are you looking for new properties in the Middle East?
The Middle East is an area of great interest to us, as we look to expand globally. We believe that several locations in this region offer the scope for us to bring our boutique brand and its authenticity to the market and we look forward to exploring opportunities in the near future. – firstname.lastname@example.org