Wednesday, 9 September 2009
Recent figures in the September edition of l'Express magazine show that property prices in the French Alps have held up well in the face of the global crisis. Aided by a wealthy international client base, low interest rates and tax breaks for French buyers, the property market in Haute-Savoie remains relatively stable despite a decrease of 20-30% in the overall volume of sales.
In the region's capital, Annecy, prices of resale apartments have fallen by an average of 4%. Compared to the French national average of -10%, this represents an encouraging performance for the "Venice of the Alps". The outstanding quality of life the town has to offer combined with continued investment by local and international businesses has contributed to Annecy's popularity with buyers. Lakeside villages and apartments in the central "Golden Triangle" of Annecy centre are still sought after locations and properties in popular residential suburbs such as Annecy-le-Vieux continue to successfully outperform the national average.
Globally property prices of resale apartments in Haute-Savoie have decreased by an average of 4%, however ski resorts have fared more favourably and prices have slipped by an average of less than 3%. Some resorts have reported price increases, such as Chamonix, Les Houches, Samoens and Manigod, whilst others have seen a slight decline. Morzine and Saint Gervais property prices are almost at a standstill at -1%, whilst Le Grand Bornand, La Clusaz and Les Contamines are showing minimal declines of 2-3%.
Whilst many agents will certainly be grumbling about a decrease in the volume of overall sales, most agree that the months since the end of April 2009 have shown increased activity in both the number of buyers entering the market to start their property search and the number of monthly sales agreed. In recent weeks we have seen a flurry of activity as confidence returns to both the banks and buyers and a number of great-value, high quality properties have recently sold.
The ski resorts of the French Alps have always had a shortage of property for sale and despite the global crisis there was not a sudden influx of distressed stock into the marketplace - the Alps is a second home market with affluent owners, unless a major change in personal circumstances forces a sale, many would-be vendors are biding their time and holding off marketing their property.
The current market position is good news for buyers - there is still a greater selection of property on the market than in previous years and there is a hugely varying degree of negotiation possible dependant on the personal circumstances of the vendors. Interest rates with the French banks we work with are at a record low, French buyers have re-entered the market and the general consensus is that the alpine property market is starting to pick up again. With the busy buying months before the ski season ahead of us, now is a great time to invest in your dream alpine property.
In the region's capital, Annecy, prices of resale apartments have fallen by an average of 4%. Compared to the French national average of -10%, this represents an encouraging performance for the "Venice of the Alps". The outstanding quality of life the town has to offer combined with continued investment by local and international businesses has contributed to Annecy's popularity with buyers. Lakeside villages and apartments in the central "Golden Triangle" of Annecy centre are still sought after locations and properties in popular residential suburbs such as Annecy-le-Vieux continue to successfully outperform the national average.
Globally property prices of resale apartments in Haute-Savoie have decreased by an average of 4%, however ski resorts have fared more favourably and prices have slipped by an average of less than 3%. Some resorts have reported price increases, such as Chamonix, Les Houches, Samoens and Manigod, whilst others have seen a slight decline. Morzine and Saint Gervais property prices are almost at a standstill at -1%, whilst Le Grand Bornand, La Clusaz and Les Contamines are showing minimal declines of 2-3%.
Whilst many agents will certainly be grumbling about a decrease in the volume of overall sales, most agree that the months since the end of April 2009 have shown increased activity in both the number of buyers entering the market to start their property search and the number of monthly sales agreed. In recent weeks we have seen a flurry of activity as confidence returns to both the banks and buyers and a number of great-value, high quality properties have recently sold.
The ski resorts of the French Alps have always had a shortage of property for sale and despite the global crisis there was not a sudden influx of distressed stock into the marketplace - the Alps is a second home market with affluent owners, unless a major change in personal circumstances forces a sale, many would-be vendors are biding their time and holding off marketing their property.
The current market position is good news for buyers - there is still a greater selection of property on the market than in previous years and there is a hugely varying degree of negotiation possible dependant on the personal circumstances of the vendors. Interest rates with the French banks we work with are at a record low, French buyers have re-entered the market and the general consensus is that the alpine property market is starting to pick up again. With the busy buying months before the ski season ahead of us, now is a great time to invest in your dream alpine property.
Labels: Anncey Property, Chamonix property, French Alps, French mortgage, property prices, Saint Gervais property, Samoens property, ski property for sale
posted by Sarah at Ascendant Property at
07:13
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