Page 0088

I

t was no surprise to read

that article in Le Parisien

earlier this year. It quoted

research by INSEE, showing

an annual price rise of 7%,

even higher than the l'Île-de-

France (6.4%). Of course, our agents

on the ground here had known that

the market was hot well before the

research was published. Let's look

at why.

The Alps - limited stock and

strong demand

Demand in the Alps is protected by a

restriction in new supply, as building

permits within the resorts become

hard to obtain. Limited stock levels

and a new demand for property that

offers open spaces, fresh air, and a

range of outdoor activities means

that prices are likely to continue

to rise. Rental yields, too, should

be protected over the medium and

long terms. The pent-up demand for

an Alpine holiday (from French and

international tourists) has given an

enormous boost to tourism here.

New-builds

New-builds are receiving an

increasing number of enquiries, due

to the 20% VAT rebate (conditions

apply) and reduced transfer tax.

However, while they are plentiful

in the cities and valleys, they are

not always easy to find in resorts,

as planning restraints have been

tightened and vary significantly from

resort to resort.

Last year we had an approximate

55:45 ratio of French to international

buyers. Domestic buyers are looking

to change to a greener lifestyle with

their hearts, but they are also buying

with their heads. They realise that

property in the Alps has a perennial

demand, and this market is always

the first to recover after any crisis.

Investment

Investment in local infrastructure

remains high, and the resorts

are becoming more innovative

in attracting tourists. Many have

digital ski passes with real-time

resort information. Val Thorens has

a driverless, electric shuttle that

takes visitors around the resort,

and the Bourg-Saint-Maurice /

Les Arcs funicular is 100% electric

using environmentally friendly, clean

energy.

In investment terms, more

new lifts have opened, with over

8,000 now in the region. There is

a 477m euro investment plan until

2043 for the Chamonix valley,

and other resorts are following

88 AUVERGNE

Rhône-Alpes

"The Northern Alps see the highest price rises of any area in France," shouts the

headline in Le Parisien. Heather Byrne tells us about the hot property market in the

snowy Alps.

Méribel

LEGGETTFRANCE.COM

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