The Thriving Alpine Property Market in 2023: An Insight by Findhomeabroad, the Ski Property Specialists
Posted by FindHomeAbroad on July 20, 2023 Blog Findhomeabroad, Property Market Insights 0
Since 2003, Findhomeabroad has been the trusted authority for the best ski properties across the globe. We are back again, with insights from the flourishing French Alpine property market. This year, the resorts of Les Gets and Morzine, nestled in the grandeur of Portes du Soleil, have emerged as leaders in French property value appreciation.
Portes du Soleil Leading the Charge
Les Gets and Morzine are outpacing their competitors, exhibiting a sturdy annual price growth of 11% and 9% respectively. The price appreciation in these resorts is influenced by a combination of geographic factors and the ever-changing needs of homebuyers.
Regional Divisions in the French Resorts
Interestingly, the performance of French resorts is noticeably divided by region. In the Haute-Savoie region, encompassing Chamonix, Megève, Morzine, and Les Gets, the property market has been robust. Its strength can be attributed to the proximity of these resorts to Geneva Airport, their year-round charm due to the mid-altitude location, and their relative affordability.
These aspects particularly resonate with a new wave of co-primary property hunters, those intending to make several trips a year. They seek a blend of accessibility and scenic beauty, and the Haute-Savoie region’s resorts tick these boxes perfectly. The performance of the French resorts is largely split by region. Resorts in the Haute-Savoie region (Chamonix, Megève, Morzine, Les Gets) have performed strongly due to their proximity to Geneva Airport, alongside their year-round appeal due to their mid-altitude status and their affordability. These three factors are chiming strongly with a new breed of co-primary property hunters looking to make multiple trips a year. Saint-Gervais is now also the new kid on the block where we plan to see much increase in demand.
Summer Tourism and Rental Income
Summer tourism, rife with food and music festivals and an influx of sporting events such as trail running, MTB races, road cycling, and hiking, is an additional factor contributing to the property market surge. These attractions drive rental income upwards for property owners wishing to leverage the increasing demand from an expanded group of mountain enthusiasts.
The Savoie Resorts: A Playground for the Wealthy
Contrarily, the Savoie resorts, including Val d’Isère, Courchevel, and Méribel, maintain their allure, but with a higher market entry threshold, they appeal primarily to a select group of affluent buyers. These buyers are in pursuit of the best winter ski conditions and the luxury that these resorts have to offer. They appeal to a smaller cohort of wealthy buyers seeking the best winter ski conditions.
The Future of the Alpine Property Market
Despite the current market fervour, we anticipate the Alpine markets to regain equilibrium in the coming year. This prediction doesn’t necessarily indicate a price drop. In fact, in periods of volatility and uncertainty, the Swiss Franc’s stability is likely to become prominent, coupled with the French resorts’ value and accessibility.
The price growth in the French Alps is being driven by a number of factors, including:
Strong demand from both domestic and international buyers
A limited supply of ski properties
The increasing popularity of the Alps as a year-round destination
However, after three exceptional years of growth, global and local economic challenges may start to impact buyer sentiment in the Alps. This could prompt the rate of annual price growth to moderate.
Priced out? No worries…
Many of our clients can feel priced out by the high prices in some of the ski resorts but we also have a solution: why not try buying a fraction of a ski property instead? This is not timeshare, these are freehold properties that you can hold in your family for generations. It can be an excellent solution for many of our clients too. At FindHomeAbroad, we like to find value and think outside of the box to offer the best solutions to our clients. See here
Findhomeabroad is a leading ski property specialist with over 20 years of experience in the market. We have a team of experts who can help you find the perfect ski property for your needs. We offer a wide range of properties to choose from, including chalets, apartments, and lodges. We also offer a comprehensive range of services, including property management, and legal advice.
If you are interested in buying a ski property in the French Alps, please contact us today. We would be happy to help you find the perfect ski property for your needs.