Study: Winter sports tourism, an opportunity for growth on Romanian real estate market

Study: Winter sports tourism, an opportunity for growth on Romanian real estate market

2023 was the best year for the winter tourism industry in Romania, surpassing the level recorded in the pre-pandemic period, according to the “Ski report 2023-2024” study by real estate agency Crosspoint Real Estate. However, the same source said the country has great potential to develop beyond its current capacity and become an accessible alternative for tourists and profitable for investors.

Romania is not traditionally a ski destination like France, Switzerland, Italy, Austria, or Germany. These countries total over 26,000 km of ski trails. Still, according to Crosspoint, “lower costs, an increasing desire for diversity among tourists, and Romania’s cultural and geographical uniqueness are just some of the assets with which the country can attract significant investments in the coming years.”

The study shows that in contrast to the Alpine locations, where the price per square meter for high-end mountain resort units ranges from EUR 8,000 in Austria to nearly EUR 28,000 in France, Romania offers a more affordable option. Prices in Romania begin at EUR 3,500-4,000 per square meter and peak at EUR 7,500 per square meter for ultra-prime properties. Moreover, luxury cottages in Romania generate a weekly income exceeding EUR 4,000.

Additionally, Romania’s mountain resorts cater to year-round activities, making property investment profitable throughout the year, not solely dependent on winter sports. The counties with the largest ski areas (with more than 10 km of part) exceeded the levels recorded in 2019 in terms of winter season overnight stays. Moreover, in the last decade, mountain resorts in counties such as Alba, Harghita, and Maramureș have seen a doubling in overnight stays.

In recent years, the hospitality industry in Romanian mountain resorts has seen a notable increase in development, largely driven by the growing diversity of accommodation facilities available. The development of the luxury segment and the emergence of modern chalets, together with an increasing range of accommodation facilities, have played a key role in shaping this trend.

“Romania’s steady economic growth in recent years, the increasing number of high-income earners, and the growing interest of international investors have led to the emergence of the high-end segment of the residential and hotel market. Although limited at the moment, the supply of high-end properties in Romania’s mountain resorts matches the quality standards found in Western European countries, offers investors competitive returns, and has significant potential for future development,” said Ilinca Timofte, Head of Research, Crosspoint Real Estate.

The majority of tourism in Romania is domestic, making the market less vulnerable to sudden changes and better equipped to recover from setbacks.

Romania is also set to get colder, according to the study. “Current climate models predict a decrease in Romania’s average annual temperature over the next 25 years, projected to range between -1.3°C and -4.1°C,” Timofte added.

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(Photo source: Remus Cucu | Dreamstime.com)