His colleague, Patrick Graham, is based in
Méribel, part of the Three Valleys. Interestingly,
he tells us that demand is currently strongest
for properties at under 500,000 euros, perhaps
confirming that the pandemic has widened
demand in the resort to those with lower
budgets who are still looking for clean air and
mountain living.
"Méribel is undergoing a major development
phase with 10 significant new-build development
programs either completing, or scheduled for
completion within the next 3 years. These will
produce a significant uplift in the quality of the
properties available in the resort along with a
corresponding increase in new-build property
values ranging from €22K - €27K/m2 in Méribel
centre. Current resale values in similar locations
are between €9K - €18K/m2. Resort infrastructure
is also being improved with the addition, for
the 2022 season, of the new Bouquetin chairlift
linking Plattières to the Mont de la Challe summit
and Les Menuires. In preparation for the 2023
World Skiing Championships, being held in
collaboration with neighbouring Courchevel,
improvements are being made to the racing slopes
along with the addition for the 2022 season of an
access tunnel under the main racing piste to allow
skiers to circulate and still take full advantage of
the ski domain during the competition period".
It's clear that demand in the Savoie is high at all
levels. At the top end, properties in France's most
expensive resort, Courchevel 1850 have been
selling at higher rates than normal with buyers
from both the domestic and international markets.
Indeed, our agents across the department confirm
that sales have been made to those coming from
Asia, USA/Canada as well as across Europe. The
issue here remains one of supply.
Current sales trends
Val d'Isère 10,610 euros per m²
Tignes 6,210 euros per m²
Bourg-Saint-Maurice 3,570 euros per m²
La Plagne-Tarentaise 3,860 euros per m²
Courchevel 8,570 euros per m²
Belleville 5,180 euros per m²
Chambéry 2,380 euros per m²
*source Notaires de France, median price of all
apartment sales between Jan - June 2021
It is estimated that of the 340,000 properties
in Savoie, around 37% are holiday homes. The
median price of properties sold in the department
between Jan-June 2021 was 2,970 euros per
m2, compared to 2,800 euros per m2 in 2020, an
increase of 6%.
David Cowx lives at the foot of the road to La
Plagne, which, along with Les Arcs, forms the
popular Paradiski area. He confirms that all
types of property are currently in demand;
apartments, houses and chalets.
"The big problem is a lack of stock after a
successful 2020 and first three quarters of 2021.
In terms of demand, no particular price range
sticks out. We have been selling plenty of studios
at 70-100,000 euros to chalets at 500,000-1m
and above. It helps that we have had continual
upgrading of the lift facilities here, the new fast
chair lift out of La Plagne centre is sure to prove
extremely popular. There has also been some
significant reprofiling of pistes at several «pinch
points» to make things easier for the typical
intermediate skier."
SAVOIE