The ever popular regions of The Alps have traditionally been a choice for lifestyle buyers instead of pure investors and this has left speculation relatively low resulting in steady property values.
Land is at a premium and many people don’t need to sell, so prices in top ski resorts such as Megeve and Courchevel in France have held up well throughout the downturn. Generally, however, France – the dominant force in Alpine property – has been most susceptible to price depreciation because land is more widely available there than in Austria and Switzerland.
Savills report that prices for ski property for sale in well-liked ski resorts such as Chamonix and Flaine are down around 20 per cent from 2007 peaks. Prices like these haven’t been available in a long time and property buyers are keen to snap them up fast. In particular the French themselves have been keen to buy ski property in France and take advantage of the recent domestic tax breaks (Loi Scellier).
