Aix-les-Bains, between lake and mountains

Nestling at the foot of Mont Revard, at the edge of the lake of Le Bourget, the largest natural lake in France, the elegant Aix-les-Bains is known as one of Europe’s capitals of well-being and thermalism.

Bearing the “France Station Nautique” label since 2001, Aix-les-Bains has managed to obtain high rating as a town catering for tourism focusing on well-being. At the Gateway to the Regional Nature Park of the Massif des Bauges, this commune with 29,000 residents offers an outstanding natural environment allowing for a good variety of sports and cultural activities in all four seasons. Blessed with a rich heritage, Aix-les-Bains plays host to ancient thermal spas, the Arch of Campanus and Temple of Diana, testifying to its opulence in Roman times. Benefitting from a convenient location between Lyon and Geneva, it is a 3-hour train-ride to Paris from its station in the town centre, and less than an hour from the international airports of Geneva and Lyon Saint-Exupéry. An esteemed watering-place during the “Belle Epoque”, Aix-les-Bains has preserved its elegant centre where palatial 19th-century facades rub shoulders with the splendour of the Grand Cercle Casino.

This pleasant town centre is popular among a clientele comprised of retirees with comfortable budgets. “Demand is very steady for apartments with terraces in the town centre in residences with lifts and garages,” says Eric Belliot, manager of the agency Laforêt Source Immobilier. “Unfortunately, they are rarely available. For this type of property, prices are stable and higher than those posted by the rest of the commune’s accommodation. A 2-bedroomed apartment meeting all these criteria will cost from 350,000 €.” Another frequent request is for “modestly-priced homes”. First-time buyers working in the Technolac area or the Annecy and Chambéry basins search for houses with bud­gets under 200,000 €. “We have just sold a terraced house requiring renovation in the Brison-Saint-Innocent area at 85,000 €,” says our specialist. As for apartments, investors keep an eye out for small surface areas, considered as high-quality assets bringing a steady rental return. New developments are still rising from the ground. Marketing of a few residences will commence at the end of the year, one of them located on Boulevard Lepic, in which apartments priced from 3,500 € per sq. metre appeal to members of the local working population. Higher up the ladder, the residence “Les Cabanes du Lac” with its lovely open views is being marketed at around 4,500 € per sqm. With delivery scheduled for the end of 2017, this development is drawing the interest of retirees looking for an address combining prestige, charm and comfort at the heart of an up-and-coming neighbourhood called Nouvel Aix.

”Houses offering a view of the lake are one of the flagship properties in Aix-les-Bains,” says José Malla of La Cible Immobilière, an agency covering the commune for the past 10 years. Extended families, retirees, couples from northern France or the Parisian region are ready to pay from 650,000 to 700,000 € for high-quality villas overlooking the largest lake in France. “Above 700,000 €, properties are struggling to find takers. The prices of some outstanding residences have declined dramatically - up to 30 % - over the past three years,” says José Malla, mentioning a villa estimated at 1,200,000 € in 2011 which just sold for under 800,000 €. “Generally speaking, prices are being adjusted on the downside and almost all properties experience some bargaining. Beyond 1 million euros, they will not find buyers at the moment.” On the other hand, since the recent modification of the town’s Urban Planning regulations allowing for small plots of land to be sold, many first-time buyers have been treating themselves to plots of a few hundred sq. metres on which to build small houses. “They will finally cost less than 230,000 € in all,” explains our estate-agent. A new trend which will compete with the re-sale market for apartments.

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