The Interdepartmental Chamber of Notaries of Savoy publishes the figures for real estate in the resort. In 2017, transactions and prices are on the rise.
We know that mountain real estate is a separate market. In 2017, all indicators are green. The snow, which has fallen in abundance, has a boosting effect on sales.
An atypical market: the main reasons
In the resort – and this is a proven fact – the larger the surface, the more expensive the square meter, while elsewhere it is the opposite. Then, “the prices of apartments in the existing one are higher, compared to the properties sold in the rest of the department”, underlines Maître Bouvier, notary in Savoie, during the presentation of the 2017 statistics of real estate in Savoie Mont Blanc. In the Three Valleys and the Tarentaise, the median price per square meter is 1,000 euros higher … Winter sports resorts acclaimed for their large ski areas where a good is exchanged respectively 5,280 € (+ 12.1% compared to January 2017) and € 3,790 / m2 (+ 4.6%). And much more in more upscale / luxury ones like Val d’Isère, Méribel and Courchevel. The more family-friendly Beaufortain-Val d´Arly also attracts tourists. Prices climbed 9.4% to reach € 4,620 / m2 in 2017. Haute-Savoie is not to be outdone. Certain spots at the foot of Mont Blanc remain essential, in particular Chamonix where the median price reaches 4,840 € / m2 (+ 4%). Transactions are also progressing in Portes du Soleil and Aravis. Count respectively € 4,440 (+ 1%) and € 4,730 / m2 (but -2.8%).
Breakdown in% of sales of new apartments, old apartments, old houses and building land combined (from March 01, 2017 to February 28, 2018)
|Haute-Savoie||Tous biens confondus||Savoie||Tous biens confondus|
|Tour du Lac||3%||Montmélian-Saint Pierre-La Rochette||6%|
|Secteur de Faverges||1%||Albertville-Ugine-Grésy||8%|
|Secteur de Frangy||2%||Echelles-Chartreuse||2%|
|Genevois||11%||Yenne-Saint Genix-Pont de Beauvoisin||5%|
|Vallée de l’Arve||13%||Vallée de Maurienne||4%|
|Alpes du Léman||1%||Stations de Maurienne||7%|
|Balcon du Léman||1%||Vallée de Tarentaise||7%|
|Les Aravis||2%||Stations de Tarentaise||14%|
|Le Grand Massif||2%||Trois Vallées||7%|
|Les Portes du Soleil||5%|
A second home market. Another reason given, the mainly tourist clientele. It is French but also international depending on the destination. “In Tarentaise, 50% of sales are made by foreigners”, underlines the notary. Elsewhere, in the heart of the Portes du Soleil, (Morzine and Les Gets especially), a popular destination for the British, this clientele represents 25% of buyers in 2017. In the Mont-Blanc valley, they are 13.1%.
Longer detention periods.
In the mountains, owners keep their apartment or chalet longer. The detention periods exceed 15 years, compared to 10 years in the city (note, the duration was 7 years until recently). “Buyers prefer ski resorts where communities invest in infrastructure, equipment but also non-ski activities”, points out Maître Bouvier, before concluding “Without public support, it is difficult to imagine that private owners reinvest in their heritage ”. For real estate professionals, ski resorts are all micro-markets. The proof is in Maurienne, a valley close to the Tarentaise which stretches over 125 km to Bonneval-sur-Arc. The analysis made by the notaries of the Savoy is broadly the same. Except attractiveness (a place of passage where demographics are declining) and prices. “It is the ‘poor relation’ of Savoy where the values are the lowest. Here, the land sells for 50 € / m2 ”, recognizes the notary specializing in this sector. A choice of municipalities that prefer to sell “at a loss” to attract buyers. And the expert to add. “At 170,000 euros, there is a habitable house”. Here again, there is a real gap depending on the area: “There are three times as many houses at the bottom of the valley and four times as many apartments in the resort,” he says. As for the values, they also differ. Importantly, old houses are at the same price whether they are in the resort or in the valley (and on larger areas of land in the resort!), Unlike apartments. Count 4,300 euros per square meter in Valloire, located 2h15 from Lyon but 2,600 € in Le Corbier. And the lawyer preached for his parish “Valloire is only 15 minutes from the motorway, unlike the Tarentaise, which makes it an interesting resort”.