Lake or mountains, a view at all cost !

Whether they encompass the majestic Lake Annecy or the chain of the Alps and Mont Blanc, properties with dazzling views are in constant demand in Upper Savoy…

As illustrated by a new development called “La Baie des Voiles” in Duingt - a charming village on the left bank of Lake Annecy -, homes enjoying lovely views of the lakes are sought after by a mostly French clientele. “It’s a former tourist residence now comprised of 48 high-end apartments with 1 to 5 main rooms, some split-level, on offer at around 7,500 € per sq. metre. Their good-sized terraces offer views of the length of Lake Annecy, which is exceptional in the region,” explains Jean-Luc Caillat, sales director in the old family-run agency, Vallat Immobilier. “Mostly from Lyon, Paris or Savoy, clients happily take them as their second residences, won over by the development’s numerous assets and rarity.” The market for houses at the water’s edge starts from 1 million euros and has recently rekindled the interest of British clients, who are making a big comeback to Savoy. “Depending on the quality and precise location of each property, prices may suddenly ignore standard market logic.” By way of example, Jean-Luc Caillat mentions an outstanding residence literally set on the water, benefiting from a parking area for a boat. Built in 1850 and recently refurbished as new, it is located in Menthon-Saint-Bernard and bears a price-tag of 3,150,000 €. Fans of contemporary homes can also find a few modern properties, such as a villa of 145 m2 built in Sévrier in 2001, up for sale at 1 million euros. Or a residence of 300 m2 built in 2007, offering a 180° view of the lake. Some even boast small private beaches, like one villa currently proposed at 2,300,000 €. “If properties are of good quality, prices remain stable. On the other hand, when they suffer from noise or other defects, they can expect pretty tough bargaining.”

Other stunning views offered by the region, panoramas of the Alps and Mont Blanc are highly-prized especially by Swiss clients and French buyers working over the border. “Following the slowdown caused by the crisis, this segment of the market is now tending to stabilize. Buyers with generous budgets allowing them to acquire high-class properties with magnificent views are gradually coming back,” says Patrice Figuet of the Immobilac agency in Ferney-Voltaire. To acquire a villa with 3 or 4 bedrooms enjoying a lush panoramic view in Divonne-les-Bains or Ferney-Voltaire in Le Pays de Gex, one needs a budget ranging from 800,000 to 1,500,000 €. “There is lots of choice. The stock available consists of recent properties of good quality and in good condition. Their new owners simply have to redecorate them to suit their taste.” What about apartments ? “A 2-bedroomed apartment offering a sweeping view will cost from 340,000 to 380,000 €, whether a new-build or on the re-sale market, if it is in impeccable condition.”

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