Wealthy Hong Kong investors are increasingly looking toward the Swiss Alps to diversify their property holdings across different currencies and jurisdictions. This move is part of a broader strategy for wealth preservation, with the resort village of Andermatt serving as a prominent example of this trend.
According to Altrata, Hong Kong’s ultra-high-net-worth population grew by 26.4 per cent in 2025, reaching nearly 18,300 people. Widya Lestaluhu, international director at property agency Benham & Reeves, estimates that direct real estate typically makes up 30 to 35 per cent of an ultra-wealthy individual’s investment portfolio. She noted that about a quarter of that property allocation is held outside of Hong Kong, with roughly 10 per cent located in European markets.
Andermatt has seen significant growth, with prime residential prices rising 12.5 per cent in the year to June 2026. This performance made it the second-best-performing market in the Knight Frank Mountain Property Price Index. The village is attractive due to its relatively open rules for foreign buyers and the strength of the Swiss currency.
The developer Andermatt Swiss Alps stated that people based in Asia make up about 7 to 8 per cent of its property owners, with Singaporeans accounting for roughly half of that group. However, Horst Geicke, a German-born entrepreneur and founder of VinaCapital, provided a higher estimation based on personal observation. Geicke, who purchased property in the resort about eight years ago, estimated that Asian buyers account for about 10 per cent of foreign purchasers in Andermatt, with Hong Kong residents being the largest group within that segment.
Geicke highlighted the ease of purchasing as a foreigner, stating, “It is one of the snow-safest places in Switzerland, and absolutely no restriction for foreigners to buy property.” He added, “I think it’s the only place in Switzerland where it’s that simple: buy and sell for a foreigner who is not registered.” While Switzerland’s Lex Koller law generally restricts non-residents from buying residential property, Andermatt benefits from a special arrangement allowing international buyers greater freedom.
