Chamonix and the Chamonix Valley offer some of the best skiing and mountaineering activities in the French Alps, combined with stunning surroundings and lively, cosmopolitan resorts.
Property in Chamonix has experienced the same meteoric success as the resort and the British love affair with the region shows little sign of abating since the first Englishmen arrived 267 years ago. The recent economic uncertainty in the UK and the strong euro have certainly impacted on the property market in the Alps and Chamonix is no exception, however property in Chamonix is continuing to show steady capital growth and property in central and key locations within the Chamonix area is still immensely popular with buyers. In 2007 resale apartment prices in Chamonix increased by an average of 5% and the resort is showing signs of a more stable and mature property market. This is underlined when the past 12 months are compared to the tremendous growth of the 6 years between 2001 and 2007 when resale apartment property prices in Chamonix increased by a staggering 160% average, meaning that if you were one of the lucky ones you certainly made an outstanding property investment. In 2007 resale chalet and house prices in Chamonix leapt up by 20%, another strong indication that in a marketplace where there is very little supply buyers are prepared to pay a premium for their dream home.
Apartments in Chamonix are now sold for an average of 5,600 euros per square metre (up from 5,400 euros per square metre in 2006), however this figure can vary wildly according to which part of the resort you choose to buy in and the type of property you choose to buy. In the resort centre quality apartments can sell for as much as 12,000 euros per square metre and anywhere with views of the Mont Blanc range and private parking is always going to be a popular choice. The most sought-after spots to buy property in Chamonix outside of the resort centre are the areas of Les Moussoux, Les Praz de Chamonix, Les Bois and La Frasse. These residential locations are noted for the amount of sunshine they get in the winter (a key factor when buying in a valley surrounded by mountains), their traditional Savoyard architecture and quaint village ambience, their location close to cable cars and their proximity and ease of access to the main resort centre.
Les Moussoux is a peaceful and small village elevated above the main resort centre which benefits from superb views of Mont Blanc and the glaciers, a south-facing aspect and all important proximity to the Brevent cable car. Chamonix Les Praz is an attractive and charming Savoyard village on the edge of the resort, well connected by bus and rail services. As well as plenty of sunshine in this part of the valley, there is easy access directly to the mountains via the large Flegère cable car which operates in both the winter and summer months. Les Praz is also home to the world-class 18-hole Chamonix golf course which was designed by Robert Trent Jones. Chamonix La Frasse and Les Bois adjoin Les Praz and benefit from the same plus points.
Larger apartments tend to attract the premium price per square metre – these days buyers want low maintenance and spacious property, with multiple bathrooms and private parking. 3 and 4 bed apartments for sale in Chamonix are hard to find and so they sell for an average of 6,500 euros per square metre – 900 euros more per square metre than the average. Apartment prices range from an average of 125,000 euros for a studio through to 725,000 euros for a 4-bed. The average price of a chalet in Chamonix in 2007 was 900,000 euros for a property of 110m² (typically a 3-bed property), an average of 8,181 euros per square metre. As with apartments the value of a chalet can vary wildly according to its location and condition and most buyers should expect to budget upwards of 1 million euros for a detached chalet close to the resort centre or in one of the hotspots previously mentioned.
The success of Chamonix has benefited the whole of the Chamonix Valley, with nearby resorts such as Les Houches, Argentiere, Vallorcine and Le Tour expanding and developing alongside their larger neighbour. Each resort has something different to offer, whether it’s the level or altitude of skiing available or the character and size of the resort.
Property prices in the Chamonix Valley are anticipated to stabilise in 2008, a side effect of the economic uncertainty felt by many British buyers who influence the local market. However luxury property sales in Chamonix are much less affected and continue to do a brisk trade. The lull in the market is not expected to last long – affluent Italians and Eastern European buyers think nothing of splashing millions of euros on luxury mountain retreats. The cyclical nature of any property market means that this is a good time to buy; whilst the euro is strong British vendors can afford to negotiate on property prices thus negating the currency exchange effects of the weaker pound and there are certainly savvy investments to be made before the next big upturn in property values.
About the author: The author is a real estate agent who has good knowledge on the Ski property for sale , Property Chamonix . For more information he recommends you to visit http://www.ascendant-property.com/
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