Aix-les-Bains, diversity of choice

A well-known thermal spa, a popular tourist destination bearing the “France Station Nautique” label, and a charming commune nestling at the foot of Mont Revard, Aix-les-Bains unfurls its various facets in stylish apartments, contemporary residences and villas with views. A sound investment.

As soon as you arrive in the town, you fall for its charm ! Buildings in the centre with “Belle Epoque” facades guarantee timeless elegance for this commune with almost 28,000 residents at the edge of the Lac du Bourget. Playing host to the largest freshwater harbour in France, two casinos including the sublime “Grand Cercle”, a golf-course, hippodrome, attractive boutiques and restaurants, Aix-les-Bains confronts the property crisis armed with some weighty arguments. Its economy is also very lively with important enterprises within its urban agglomeration, providing a pool of employment which benefits the local property market. As for its famous lake, it is the subject of wide attention, and the high-end homes on its banks are doing well compared to standard housing, which is seeing something of a slowdown.

“The market here is still active and well-balanced,” says Laure Goyon, manageress of the Accessible Immobilier agency. “Villas offering unimpeded views and contemporary appointments are in demand from local families with budgets starting from 400,000 €. On the other hand, houses in Savoyard style with traditional timber-clad frontages are no longer in favour ; buyers now tend to prefer contemporary homes.” The clientele is now shared out fairly evenly between local working people, retirees and investors looking for properties of quality. New developments are popular. By way of example, Laure Goyon cites the new “Horizon” development, currently being marketed. This select residence comprised of two blocks with 10 apartments each nestles in a leafy setting not far from the town centre. Its main attraction ? Generous terraces from 15 to 100 m2, enjoying elevated views of the centre or the lake. 1-bedroomed apartments are on offer from 185,000 €. Despite their high prices, these properties easily compete with others up for re-sale. Only impeccable examples ideally located in residences with terraces, lifts and nearby parking facilities manage to sell at market price, ie. from 2,900 to 4,000 € per sq. metre. Properties subjected to noise or other nuisances are obliged to post greatly reduced prices.

This observation is shared by José Mallat of the agency La Cible. “In fact, the most sought-after properties at the moment are houses. Buyers with budgets ranging from 650,000 to 750,000 have lots of choice, though there are fewer availabilities in the 400,000 to 500,000 € bracket. The most highly-prized locations are on the first level of the hills, where owners are hardly inclined to engage in heavy bargaining.” At the heart of town, some old houses offering style and character appeal to local families wanting to give their teenage children an independent life-style, even if it means putting up with a certain amount of noise. José Mallat mentions a charming villa of 200 m2, for example, which was on offer at 597,000 €, and just sold for 500,000 €. What about apartments ? Naturally, it all depends on the neighbourhood. Recent residences proposing terraces overlooking the lake will be pegged at around 4,000 € per sq. metre, while more central apartments with everything within walking distance, and thus popular among retirees, will cost about 3,000 € per sq. metre or less, depending on their condition and the building’s amenities. Even an impeccable property - a 2-bedroomed top-floor apartment benefiting from an outdoor area -, on offer at 280,000 €, finally sold for 260,000 €. The Holy Grail seems to be a parking place. “If all the apartments in the centre had terraces and parking places, they would sell very quickly,” comments José Mallat.