Leading French estate agent Leggett Immobilier has launched a quarterly Alpine property index. Results show that in 2014 apartments rose in price by an average of 1.3% while chalets fell by 1.0% and houses by 3.4%.
You can download a copy of the report here.
The property index is based on over 100 quarterly valuations of a fixed sample of Alpine properties (chalets, apartments, village and resort houses). It provides a unique insight into price trends across the Alps as a whole and also within four key areas:
- Haut Alpes
- Massif d’Aravis
- Portes du Soleil
- Three Valleys
The report highlights that this is a series of local markets. For instance, in the final quarter of 2014 prices in Portes du Soleil fell by 1.2% whilst in the Three Valleys prices continued a strong run and grew by 1.8%. Leggett also look at the effect that currency movements have on demand. For instance the price of French property has fallen by 8.2% for investors from the USA during 2014 and by 4.4% for UK buyers. However, prices are up particularly for Russians spending roubles with prices up by 44.7%.
Heather Byrne, area controller for the 23 strong sales team in the Alps comments:
“Our quarterly Leggett Alpine Property Index clearly shows that international buyers view the property market here as having had the equivalent of a sprinkling of fresh powder in 2014. Lower prices and attractive interest rates are the two main drivers but we are also noticing a trend for year round demand in the Alps with walkers, and particularly cyclists, flocking to the mountains. The market is coming back with British buyers laying down the first tracks. As a company we saw sales increase by 49% last year proving that buyers are increasingly seeking a mixture of local knowledge and a balanced portfolio of property to choose from.”