The French Alps, a majestic setting of preserved nature and breathtaking panoramas, are not only a renowned winter vacation destination. In Chamonix or Megève, they are also the stage for a prestigious real estate market where alpine elegance meets luxury culture. In 2024, discover the specificities and trends of this exceptional market.
The offering of prestigious properties for sale in 2024
The real estate market in the French Alps offers a variety of prestigious properties, ranging from luxury chalets to high-end residences. Wood chalets, with warm fireplaces and stunning views of the snowy peaks, attract mountain enthusiasts. Luxurious residences, equipped with modern technologies and refined finishes, embody the perfect blend of tradition and innovation.
Despite a slowdown in the overall French real estate market, the real estate offering in the Alps remains quite extensive. "There are many properties for sale this year, more than during the 2022-2023 season. Buyers are sometimes even a bit disappointed by so many options," declare Jean-Christophe Arnould and Marion Tanguy, directors of the Michaël Zingraf Real Estate Megève agency. Chamonix had a slightly slower start to the season, but the trend is reversing as stated by Ingrid Bochatay, Director of our Chamonix-Mont Blanc agency: "Exceptional properties available for sale are becoming scarce, but we are seeing more new signed mandates at the beginning of this year 2024."
In the Alps, property prices are constantly evolving. In a sector like Megève, Marion Tanguy explains that "the sale price of properties never decreases because very few owners are in desperate need to sell quickly. On average, the observed capital gains are over 40% over 5 years." On the other hand, properties priced higher than the market prices do not find buyers.
At the beginning of this year, buyers are being discreet, but "properties priced right always know how to seduce clients," according to Ingrid Bochatay. Jean-Christophe Arnould even adds that in Megève, "the brokers in the agency are conducting an average of 20 visits per week since the beginning of the 2023-2024 season."
A nuanced real estate market
In a market that comes in various forms, the high-end sector remains attractive where the softer part of the market seems to bear the marks of the end of the post-pandemic euphoria. "In the ultra-luxury segment, buyer clients are still there and less affected by the crisis and the increase in interest rates, while in the mid-market, buyers are more cautious and sometimes have to lower their expectations and redirect themselves to less expensive and less well-located properties, facing inflexible sellers due to the scarcity of this type of property," summarizes Ingrid Bochatay in Chamonix.
In Megève, Jean-Christophe Arnould highlights that "the ultra-luxury market is doing rather well, demands are numerous, but sales can take longer to materialize, just like the 'classic' market where economic conditions and the international geopolitical context can represent obstacles despite a good number of demands."
If prices are stagnant in certain sectors or property types, they are nevertheless constantly increasing in general. The attractiveness of flagship resorts in the French Alps has been on the rise since the end of the Covid crisis, notably with the return of foreign clientele and the upgrading of these essential mountain destinations. For these reasons, sales should continue to grow in 2024, especially when the location of the property is optimal and the price is accurately defined.
The French Alps are not just a destination, but a real-life experience. For 2024, the prospects for the evolution of the prestigious real estate market remain uncertain and reflect the situation of the global real estate market. Nevertheless, the market should keep its head above water and even present numerous opportunities for investors seeking harmony between nature, luxury, and tranquility.
Are you interested in buying a property? Michaël Zingraf Real Estate, as an expert in luxury real estate in France, is your privileged partner to accompany you in the French Alps. Our experienced team offers expert advice and personalized support, allowing you to find the property that matches your expectations and lifestyle. Furthermore, we remain at your entire disposal for any projects of purchase, sale, or estimation.