Posted on 23 September 2016
French resorts dominate a recent index for annual property price growth in major Alpine resorts, highlighting the investment appeal of ski property in France.
Gstaad in Switzerland saw the highest rise in average property prices between June 2015 and June 2016, according to the Knight Frank Alpine 2016 Alpine Property Index, however French resorts were ranked in the next five spots. Val d’Isère in second place recorded a year-on-year rise of 5.9 per cent, followed by Chamonix (5 per cent), then Courchevel 1650 (3.4 per cent), Courchevel 1550 (3 per cent) and Méribel (2.8 per cent).
Encouragingly, the index as a whole increased by 1.8 per cent compared to 2015, more than reversing the 1 per cent decline recorded last year. This positive growth contrasts with the rest of France’s market, which remains relatively stagnant with little sign of price increases in a market inundated with resale properties.
The Index revealed how The Three Valleys and Val d’Isère stood out as a pocket of growth. Continual investment in the resorts by the owner, Société des 3 Vallées (S3V), has reinvigorated both tourist and buyer interest.
Also highlighted was the growing year-round appeal of Alpine resorts, with Val d’Isère and Chamonix in particular spearheading this trend. Chamonix now welcomes more tourists in the summer than the winter and its owner, Compagnie du Mont Blanc, is committing a further €477million of investment over the next few years to upgrade the lift system and part of the valley’s infrastructure. Similarly, passenger numbers to Geneva and Lyon airports are greater in summer than in winter in cumulative terms.