The ski report in 2023
We are pleased to present insights from the flourishing French Alpine property market, focusing on the resorts of Les Gets and Morzine in the Portes du Soleil region, which have shown notable growth in property value appreciation.
Les Gets and Morzine have been performing well, experiencing annual price growth rates of 11% and 9% respectively. Several factors contribute to the appreciation in these resorts, including their geographic advantages and the evolving preferences of homebuyers.
It’s interesting to observe regional variations in the French resort market. In the Haute-Savoie region, which includes Chamonix, Megève, Morzine, and Les Gets, the property market has been robust. This can be attributed to their proximity to Geneva Airport, their year-round appeal due to the moderate altitude, and their relative affordability. These factors are particularly appealing to a new segment of co-primary property hunters, who seek accessibility and scenic beauty for their multiple trips per year. Saint-Gervais is also emerging as an area with increasing demand.
Summer tourism plays a significant role in boosting rental income for property owners in the region. Festivals, sporting events, and outdoor activities attract an expanding group of mountain enthusiasts, adding to the overall market surge.
On the other hand, the Savoie resorts, such as Val d’Isère, Courchevel, and Méribel, maintain their allure but cater primarily to affluent buyers due to their higher market entry threshold. These resorts appeal to a select group of wealthy individuals seeking the best winter ski conditions and luxurious amenities.
Looking ahead, the Alpine property market is expected to find a more balanced state in the coming year. While there may not necessarily be a price drop, factors like the stability of the Swiss Franc and the value and accessibility of the French resorts are likely to become more prominent during periods of volatility and uncertainty.
