Andermatt is a small mountain village in the Swiss Alps. It's a few hours from Zurich, it's known for its skiing and snowboarding, and it's surely really beautiful. But right now it has two other important things going for it: one, it does not restrict property purchases by foreign nationals and, two, it does not limit the construction of second homes to 20% of the village's housing stock, which is a rule in other places. This is expected to come into force in Andermatt in 2040.

Because of these features, Andermatt is being viewed as a barometer for foreign demand and, over the last six weeks in particular, local developers and agencies are reporting "hockey stick growth" in terms of sales volume and inquiries (according to FT). As of April 10, new development projects in the village reported selling SFr14.2mn worth of apartments, which is nearly 2x the amount of transactions for all of 2024. And nearly a third of these deals were signed by "nervous Americans" following April 2.

Here's one buyer testimonial:

One Andermatt buyer, a New York-based tech entrepreneur in his early fifties who asked to remain anonymous, said Trump was one of the “main factors” in his decision to buy. He and his partner purchased a two-bedroom unit for SFr2.2mn in November. Switzerland, he said, was stable and secure at a time when the US was less so under Trump. “It is not only financial uncertainty — it is not liking what [the US] is turning into and what it has become,” he said.

It is not uncommon for people to say, "if X happens, then I'm going to leave and move to Y." That doesn't always, or even oftentimes, materialize. But wealthy people have the means to make it happen, if they want, and we're seeing signs of it all across Europe. In some cases, putting down a deposit on a new Swiss apartment might just be an option, should things get worse. And in other cases it may be a firm commitment to relocate.

But either way, it's a strong indicator and a demonstration of people voting with their feet.

For the last 16 years, I have been going on an annual ski and snowboard trip with some of my closest friends from Penn and from Toronto. Two years ago we went to Park City. Last year we went to Les 3 Vallées. And this winter we'll be going to Hokkaido, which has been on my bucket list for a very long time. I enjoy doing a lot of different sports, but nothing comes close to snowboarding for me. It's my first love. There's just something about being in the mountains. So I look forward to our "annual" all year.

Because of this, I have long had the goal of building a house and short-term rental in the mountains. Firstly, I felt that there weren't a lot of design-focused options in many mountain towns. You know, something clean and minimal. And secondly, I wanted a place that could embody and share our love of the mountains with others. As many of you know, this resulted in Parkview Mountain House. Globizen partnered with two regulars on the trip and we created what we refer to as a "creative retreat."

Here are a few photos of the house:

Today, I'm super excited to announce that bookings are now open at PMH! If you'd like to book a stay, you can visit AvantStay's website (who is our hospitality manager) or you can book through Airbnb, if you prefer that. Because we've just gone live, all of the rates are at an introductory level while we build up our initial review base. So now is a good time to get something in the calendar this winter (or next summer which is also a really beautiful time). Neat B and I, and a few friends, will be there later this month and we can't wait.

Cover photo by Alex Moliski on Unsplash

Camera: Fujifilm X-T3 (23mm lens)