Hot Chocolate Index & French Ski Property Market Report
The French ski property market remains strong with average property prices increasing by 3.8% in Savoie and 18.4% in Haute-Savoie over the past 10 years. This is primarily due to the fact that the increasing demand for properties here outstrips supply.
Report Sources: Athena Advisers, Meilleurs Agents, Savoie Mont Blanc Tourisme, 2019 International Report on Snow & Mountain Tourism
In order to help preserve the authentic charm of alpine villages, a reason why so many purchase property in the French Alps, many town halls have a PLU (Plan Local d’Urbanisme) in place which restricts the number of new-build properties. Plus, those which do come to market are often subject to rental obligations.
One of the most visited destinations in France, tourism figures grow year on year in the French Alps. According to the latest statistics, 41.1 million overnight stays were recorded in Savoie Mont Blanc during winter 2018/19. As well as an increase of 3% on the 2017/18 ski period, this makes winter 2018/19 the busiest ski season since monitoring began back in 1995.
Plus, the summer months are becoming increasingly important for the alpine tourism industry with 22.6m overnight stays registered in Savoie Mont Blanc in 2018. This is a 1% annual increase and a 5.6% increase over the course of five years.
Alpine Property Market Statistics 2020
Property prices have consistently grown in our key resorts over the past four years with Méribel and Courchevel leading the way. Between 2017 and 2020, the average price per sqm rose by €4,272 and €1,842, respectively, in Méribel and Courchevel.
Interestingly, properties for sale in Méribel have seen the highest price increases since our report back in 2017. One of the reasons for that is that the Rond Point des Pistes area in Méribel, the resort’s highest and most prestigious address, has been undergoing an exciting period of renovation. Old hotels which were used during the Olympics are being reinvented and reimagined as premium ski properties with exceptional on-site facilities and easy access to the ski lifts.
Properties for sale in Courchevel Moriond have also experienced significant price growth over the past few years too. This is largely due to new-build freehold properties becoming available in the coveted front de neige area. Previously occupied by hotels, this area now boasts high-end boutique residences and an emblematic 5* hotel has been transformed into a collection of stunning apartments with excellent facilities.
Hot Chocolate Index and Average Property Prices in the French Alps
One of the most sought-after destinations in the French Alps, it is perhaps not surprising to see that Courchevel 1850 is home to the most expensive hot chocolate. Here, a cup of hot chocolate will set skiers back €7. However, Méribel and Val d’Isère are not far behind with a hot chocolate costing €6 and €5.65, respectively, in the resorts. These resorts were not only home to the most expensive hot chocolates, but they also have the highest average property prices. At the other end of the spectrum, the quaint mountain villages of Châtel and Les Gets had the cheapest hot chocolates. Though charming resorts with access to one of the largest ski domains in the world, Les Portes du Soleil, these figures suggest that these ski resorts can offer better value and costs of living.
FRENCH PRIVATE FINANCE
Athena Private Finance and its French-focused company French Private Finance make accessing mortgages, development finance and other financial services easy for our international clients. Their skills and experience enable investors in the French Alps to move quickly along the purchase process, increasing the investor’s chances of being able to secure their chosen investment.