The Northern Alps see the
highest price rises of any
area in France.
"
Moving to the local market, demand is protected
by a restriction in new supply, as building permits
within the resorts become hard to obtain. The
last 12 months have seen a postponement of
holiday plans, as well as disrupting short term
rental income and yet there are clear signs for
optimism. 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 both
French and International tourists) will undoubtedly
give a huge boost to the local economy once travel
and curfew restrictions are lifted.
New-builds are receiving an increasing number of
enquiries, due to the 20% VAT rebate (conditions
apply) and reduced transfer tax. However, whilst in
the cities and valleys they are plentiful, they are not
always easy to find in resort, as planning restraints
have been tightened and vary greatly from resort
to resort.
The Alps - limited stock and strong demand
Heather Byrne runs the Leggett team across the
Rhône Alpes and Haute Alpes, she comments:
«Last year we had an approximate 55:45 ratio of
French v International buyers. With their hearts,
domestic buyers are looking to change to a
greener lifestyle, 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 type of crisis.
Investment in local infrastructure remains high
and the resorts are becoming more innovative
in the way that they attract tourists. Many have
digital ski passes with screens giving 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,
taking the total to over 8,000 in the region. There
is a 40 year, 477m euro, investment plan in place
for the Chamonix valley and other resorts are
following suit. As an example, Courchevel 1650
is improving its lift system to directly connect
with 1850 and many buildings are being clad
in Savoyard stone to give it a prettier and more
authentic feel.
In conclusion, the market here has been extremely
resilient, throughout the crisis, and we go into
2021 with the utmost confidence."
EXECUTIVE SUMMARY