| As the 2007/2008 ski season enters the final few | | | | 22%. |
| weeks of the winter, the alpine property market | | | | With such high demand for ski property for sale it is |
| continues to show positive results in popular mountain | | | | no surprise that one property sale in four in |
| resorts. The French Alps have long held great appeal | | | | Haute-Savoie is in a mountain destination. The highest |
| for those seeking to buy ski property and it appears | | | | concentrations of British buyers across the northern |
| that the British love of the great outdoors has | | | | French Alps are in the Grand Massif, the Portes de |
| continued to push prices upwards despite a sluggish | | | | Soleil, the Mont Blanc region and the Three Valleys ski |
| property market at home. | | | | domains. In these areas property in Chamonix and |
| Recently released reports show that property prices | | | | Megeve has always held a huge draw for British |
| in the ski resorts of Haute-Savoie increased by over | | | | buyers and the resorts of Morzine, Les Gets and |
| 13% for re-sale apartments in 2007, with some | | | | Samoens have all developed and grown massively |
| mountain destinations showing price growth of over | | | | over the past 8 years. These destinations are well |
| 20% year-on-year. According to figures released by | | | | placed to offer the quality and size of property that |
| the estate agency association FNAIM, the average | | | | British buyers are seeking, combined with the allure |
| price per square metre in the northern French Alps | | | | of a year-round and attractive holiday destination. |
| has almost doubled since 2002, and now sits at 4,844 | | | | Developers of new build property in the Alps have |
| euros. | | | | increasingly listened to buyers' requirements and are |
| Property in the French Alps is amongst some of the | | | | now focussing on providing more spacious properties |
| most sought-after and therefore the priciest locations | | | | with multiple bathrooms. 74% of all apartments sold |
| in France and much of the growth in the past 10 | | | | in the resale market are studios and 1-beds. In new |
| years has been influenced by British buyers. The | | | | build apartments the most popular purchases are 1 |
| British now account for over 18% of the property | | | | and 2-bed apartments accounting for 72% of sales. |
| sales in this part of the Alps; 10 years ago their | | | | The popularity of the larger properties in the new |
| market share was 2%. Property for sale in resorts | | | | build arena is indicative of changing consumer needs |
| such as Chamonix, Morzine, Les Gets, Megeve and | | | | and property designs have adapted accordingly. |
| Samoens is still highly desirable and a distinct lack of | | | | The repercussions of the 2007 US sub prime credit |
| land to build on ensures that demand for the French | | | | crisis and its subsequent impact on the UK housing |
| Alps continues to outstrip supply. | | | | market has tightened many buyer's budgets and |
| Buyers are increasingly choosing the northern French | | | | consequently the alpine property market has |
| Alps because of the fantastic flexibility a property in | | | | recorded a slower pace during the first quarter of |
| this part of France can offer. The region is home to | | | | 2008. This coupled with the recent fall in the |
| some of the largest ski and winter sports domains in | | | | sterling-euro exchange rate has caused buyers to |
| the world, yet less than 50% of annual visitors to | | | | think hard about what they can afford to invest in |
| the Alps actually come here to ski. The summer | | | | their alpine property. In recent years ski property for |
| seasons can be equally as popular as the winter; with | | | | sale in the popular resorts was so scarce buyers had |
| breath-taking scenery, a multitude of outdoor | | | | to move quickly and with little or no negotiation in |
| pursuits to enjoy and a hot if sometimes | | | | order to secure their property. In today's market |
| unpredictable summer climate. As a result a property | | | | prices are more negotiable, although resort centres |
| in the French Alps can cater for family holidays | | | | are still recording a fast sales turnover and buyers do |
| throughout the entire year. In addition to enjoying | | | | need to move quickly when they find the right |
| winter and summer holidays in the area, owning a | | | | property. |
| property in the Alps offers great scope for seasonal | | | | Many of the vendors in the French Alps are British |
| rentals; enabling owners to really capitalise on their | | | | and planning to convert their euros back into sterling |
| investment and recover many of the costs of their | | | | once their property has sold. The current |
| second home. Proximity to a major international | | | | euro-sterling exchange rate weighs heavily in their |
| airport at Geneva is another strong plus point; | | | | favour and as a result they can afford to be flexible |
| low-cost and scheduled flights arrive from the UK | | | | when it comes to negotiation on the asking price of |
| throughout the entire year and most resorts in the | | | | their property. The outcome is that both buyers and |
| Haute-Savoie region of the French Alps can be | | | | vendors are able to achieve a purchase price that |
| reached within 1 hour of the airport. | | | | they feel is fair and vendors are still able to cash in |
| The future of any mountain destination really hinges | | | | the benefits of a very healthy capital growth on their |
| on its ability to anticipate and adapt to client needs. | | | | second home. |
| Property hunters in today's market are buying into a | | | | Looking forwards to the remainder of 2008 it is |
| lifestyle product; they want to buy a ski property in | | | | anticipated that property prices in the French Alps will |
| a resort that has retained its alpine charm, that | | | | be stable, with some continued strong growth in |
| offers access to good and reliable skiing but also has | | | | developing resorts such as Saint Gervais les Bains and |
| plenty to enjoy in the summer, with lots of character | | | | Les Contamines. More price negotiation will take place |
| and a distinctly old alpine French feel. The property | | | | over the coming months and vendors that plan to |
| needs to be a spacious and comfortable mountain | | | | convert their euros back to sterling will be able to |
| retreat where the whole family can enjoy relaxing | | | | capitalise on the exchange rate, which is not |
| short breaks and longer stays. The northern French | | | | anticipated to improve until the final quarter of the |
| Alps and in particular the Haute-Savoie region are well | | | | year. Many buyers will consider a smaller property |
| matched to buyers' requirements and this winning | | | | investment initially, with plans to sell and upgrade |
| formula is reflected in the impressive price increases | | | | over the next 2-5 years. Land to build on is |
| experienced by many of the mountain destinations in | | | | increasingly rare and the continued limited supply of |
| 2007; the price per m² in Flaine/les Carroz has | | | | property for sale across the French Alps will help |
| leapt up by 23% in the past year, La Clusaz by 22% | | | | maintain a buoyant property market. |
| and across the Evasion Mont Blanc ski domain by | | | | |