Luxury properties in Chamonix

Even though it does not have the same jet-set aura as Megève or Courchevel, Chamonix is a resort with a strong personality and an excellent reputation on the international Alpine scene. Review of the top end of its property market...

Lying between the mountain ranges of Les Aiguilles Rouges and Mont-Blanc, Chamonix shares with Saint-Gervais-les-Bains the record for the commune boasting the highest altitude in France and western Europe. It owes this distinction to the presence of the highest peak in the Alps on its territory, the legendary Mont Blanc, which rises to 4,809 metres. The third natural site with the most visitors in the world, Chamonix is highly-prized by fans of Alpine skiing and mountain sports. Lying 88 km from the Geneva airport, the commune of Chamonix-Mont-Blanc is made up of the main urban area, ie. the town, and 16 villages or hamlets nestling from the entrance to the end of the valley. In all, it is comprised of 15,000 homes, a third of which are year-round residences.

“The luxury sector is a niche market with a limited clientele,” says Sylvain Berriot of the Schuss Immobilier agency based in the village of Argentière. “The main criteria for “luxury” consist of location - ideally in the plain of Les Praz, Les Moussoux or Les Frasserands -, and a view of the Mont Blanc mountain chain.”. Chalets of recent construction with 4 or 5 bedrooms are proposed here from around 1.5 to 2 M €. The clientele is shared out among the French, Swiss and English, with a few Italians and Scandinavians. The type of property in the highest demand is, however, the 2-bedroomed apartment. In a good location and with a view, it will be priced from 6,000 to 6,500 € per sqm. To treat oneself to a pleasant pied-à-terre of 65 m2 with a parking place, one needs a budget of 450,000 €.

“The finest properties pegged at over 2 M € now stay on the market for many long months,” adds Philippe Chevallier, manager of Century 21 Chevallier Immobilier. Among his recent sales, he mentions a lovely chalet of 200 m2 in grounds of 1,000 m2 in the plain of Les Praz. “It has just been acquired by a French client for 2.5 M €, an exception which confirms the rule of the current rarity of this kind of transaction.” Among the properties in his portfolio representing the top end of the market, he describes a 4-bedroomed chalet of 200 m2 with a garden of 600 m2 in the plain of Les Praz, priced at 1,250,000 €, and another of 185 m2 in grounds of 1,200 m2, in an exceptional location at the foot of the slopes to the north of the valley. Impeccably built and offering 7 main rooms, it is up for sale at 1,575,000 €. Then there is a luxury property of 400 m2 proposing top-notch appointments (high-quality materials, double garage, gym, wine cellar, hammam, lift, home automation…). On three floors and standing at the edge of the forest, it is yours for 3,875,000 €. “Despite the quality of these properties and their stable prices, they are not drawing any real interest,” says Philippe Chevallier. The French are the agency’s most active buyers, together with the English, who account for about 30 % of the sales. “French ex-pats, especially traders in raw materials based in Indonesia, are the most impressive ! In just one hour, they can make up their minds, based on photos, to acquire an apartment of 1.5 M € and then pay cash.”