Why over the past two years the price of a “square” at the main ski resort of Karachay-Cherkessia has increased 1.5 times
Today, experts often recommend that investors pay attention to the hotel sector. “They will definitely receive development and become profitable tourist real estate projects in the regions of domestic tourism in Russia,” said Key Capital, general director of Key Capital,
“Experience for large investors can be represented by remote corners that are in demand among tourists in the wake of growth in the popularity of eco-surge,” adds Marina Gosteva, representative of West Wind Group. When it comes to specific locations, both experts advise first of all to pay attention to the Caucasus, where the most attractive point is undoubtedly Arkhyz (in the photo above and lower).
The mountain resort in Karachay-Cherkessia attracted the attention of investors in 2022
“Arkhyz now-one of the key points of development of ski tourism in Russia, Given the plans for the development of transport messages, so the investment potential is still very high, ”says Olga Shirokova, partner NF Group.
It is worth noting that 3-4 years ago this resort in Karachay-Cherkessia was an extremely boring and depressive place, especially compared to a neighbor like Krasnaya Polyana. Yes, and getting to Arkhyz was quite difficult.
Investors' attention was attracted by the ski resort in Karachay-Cherkessia in 2022, when LLC Mountain Verse LLC, which is associated with the former governor of the Krasnodar Territory, Alexander Tkachev, acquired the shareholder. A little later it became known that the company paid 24.2 billion rubles for the resort. This transaction, according to a study by the IBC Real Estate consulting agency, became the leader of the rating of investment transactions in real estate in our country at the beginning of 2023.
If in 2023 the average prices in Arkhyz were 370 thousand rubles per square meter. m, then by 2025 they increased by 48%, reaching a value of 550 thousand rubles
And in the middle of last year, the Mantera group, also owned by Alexander Tkachev, said that she would invest 52 billion rubles in Arkhyz's development. Firstly, in the village of Zelenchukskaya, located only 50 km from the resort, the first airport in Karachay-Cherkessia will appear, the construction of which will begin this year.
In addition, the development plans of the resort include the construction of 30 km of ski routes with a single skiing zone, as well as an increase in the number of places, the construction of new cafes and restaurants. For comparison: a year ago, only 13 hotels worked in Arkhyz, where a little more than 2 thousand people could stop.
This news caused an interest of investors' interests, which in 2024 actively began to buy real estate in the vicinity of the ski resort. According to Olga Shirokova, in 2023 the average prices in Arkhyze were 370 thousand rubles per square meter. m, and by 2025 they grew by 48%, reaching a value of 550 thousand rubles.
“For a long time, Sochi was considered the only mountain resort that could offer vacationers and quick access to the slopes, and a qualitative offer, but Arkhyz would soon make him serious competition,” the expert adds. Today, in addition to hotels, many modern apartments are being built in Arkhyz. So, at the end of 2024, sales began in the Villa Monte Arkhyz project, and at the beginning of this year the Apart-complex “Lunar Polyana” was implemented. Also at the mountain resort are built by Alean Select Arkhyz, “Resort Residence atmosphere”, “Mountains here” and Vertical Resort & amp; SPA. Apartments in these projects cost in the region of 20-30 million rubles.
as a result, the net profit of the owner of the apartment per year will amount to about 2 million rubles, that is, about 10% per annum
So, in the project “Atmosphere Resort Residence” (in the photo below), which is implemented by the Maray Development, a lot of 35.4 square meters. m is sold for 19.5 million rubles. Apartments and cottages in this project will be controlled by a professional hotel operator. In the investment calculation for buyers of lots, the developer focuses on an average annual load of 85%. In this case, the average annual income from the apartment will amount to about 3.8 million rubles. A little more than this amount will go to communal, operating and other expenses (about 42%), as well as a reward to the hotel operator (10%). As a result, the net profit of the owner of the apartment per year will amount to about 2 million rubles, that is, about 10% per annum.
In these calculations of the developer, only the average annual load is in doubt. For example, in Sochi hotels, according to the first vice mayor of the city of Svetlana Kalinina, it reaches about 70-77%. The average loading of numbers in Krasnaya Polyana, according to the chairman of the Association of Operators of the Entertainment Industry and Event Tourism Industry Dmitry Anfinogenov, is 60-65%. And the Arkhyz hotels are still loaded, according to the general director of Arkhyz Management Company, Roman Kiranchuk, by 70%. Olga Shirokova draws attention to the fact that at the beginning of 2025 the average prices in the mountainous cluster of Sochi were 1.3 million rubles per square meter. m, which is 2.4 times higher than the price level in Arkhyz. It is unlikely, of course, the cost of real estate at a mountain resort in Karachay-Cherkessia in the near future will catch up with Sochi prices, but it still has a potential for significant growth. There is a channel in Telegram.
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