Chamonix price rises continue to draw in property buyers from around the world
- Rising property values and rental incomes continuing to draw buyers to Chamonix (FrenchEntrée)
- 38% of foreign investment in French property is focused on The Alps (BNP Paribas)
- Chamonix, Les Praz and Les Moussoux at heart of recent price rises (FrenchEntrée)
Since it hosted the first ever Winter Olympic Games way back in 1924, the town of Chamonix has been synonymous with skiing during the winter months. However, the area’s growing year-round appeal and rising property values means that it’s no longer just powder-hounds who are taking an interest in this breathtakingly beautiful pocket of France.
“As Chamonix maintains its reputation as a year-round destination, we’ve seen a marked increase in buyers looking to part-fund their holiday home investment through its rental potential. Values in prime areas of the valley are rising swiftly and the promising underlying rental value is opening the area up to an array of new buyers.”
Annick Dauchy, Property Business Development Manager, FrenchEntrée
Premium French property agents FrenchEntrée cite chalets and luxurious apartments in Les Praz and Les Bois as the most sought-after properties at present. Buyers are looking to combine a second home investment with good rental potential in order to cover some of their costs through the income that can be made from the property.
Capital gains are also a consideration, with Chamonix, Les Praz and Les Moussoux all enjoying price rises at present, while values in Les Houches, Taconnaz and Les Bossons all retain their value.
Chamonix is about so much more than just winter sports. Aside from the obvious charms of the ski season, the town offers an attractive and well-visited destination, no matter the season. The stunning heights of Mont Blanc provide an incredible backdrop to the town, while abundant flowers both in and around Chamonix provide a beautiful contrast to the mountain’s pristine white slopes. Whether they’re exploring by foot, bike, skis or snowboard, Chamonix has the power to take visitors’ breath away with its staggering beauty.
The town enjoys good access from Geneva airport and offers a wide range of properties for sale. During the summer months, hiking and mountain biking are both popular, while the local culture, Savoyard fare and a range of festivals and events ensure there is always something on hand to enjoy.
The most common properties available are apartments ranging in value from €350,000 to €650,000. Two- and three-bedroom chalets are also popular and can command asking prices of anything from €1.3m to €2m.
Those looking for a particularly impressive abode can pick up a six-bedroom, five-bathroom chalet with pool in a superb setting for a cool €6.3m. Meanwhile, a four-bedroom chalet can command anything up to €3,870 per week in rent over the peak of the winter season.
Of course, property investment in the Alps is nothing new. Sales in the area account for 38% of foreign investment in French property, according to BNP Paribas’ mid-2016 market update. However, the recent rise in rental potential is driving a new wave of interest in the Chamonix area in particular.
“Buyers are definitely waking up to the fact that their property can work for them when they’re not using it. With low interest rates added into the mix at the moment, Chamonix has become far more accessible to those looking to pick up the perfect second home.”
Annick Dauchy, Property Business Development Manager, FrenchEntrée
For further information, contact FrenchEntrée on +44 (0)1225 463752 or propertysales@frenchentree.com. You can also visit www.frenchentree.com.