Posted on 31 October 2014
French ski resorts outnumber resorts in any other country in a recently published index that ranks luxury ski resorts around the world by property price growth this year, with Morzine scoring highest in seventh place.
The Knight Frank Prime Property Index 2014 reports that the average price of a luxury ski home across 20 of the world’s top resorts rose by 5.9 per cent in the year to June 2014, following growth of 4.6 per cent a year earlier. Top of the rankings is Queenstown in New Zealand, while France’s six listed resorts also Val d’Isère, Chamonix, Megève, Méribel and Courchevel.
Looking closer still, Courchevel (1850) leads the pricing stakes with the average luxury property there priced around €30,000-€32,000 per square metre. Compare this to Chamonix, a two-hour drive away and outside the desirable Trois Vallées ski area, where prime prices are €7,000-€8,000 per square metre. Consequently, €1m provides a buyer with around 117 square metres in Chamonix but a smaller 50 square metres in Courchevel (1850). The report noted too that a new ski chalet in Courchevel Village can feasibly produce a 6.7 per cent gross yield from rentals.
Further analysis by Knight Frank also highlighted stronger demand for properties priced below €2.5 million in 2014 – a market that accounted for 72 per cent of enquiries, compared with 47 per cent a year earlier. The proportion of buyers looking at properties above a €20 million threshold by comparison has shrunk from 7.6 per cent in 2013 to 3.8 per cent in 2014.