Morzine, pursuing its steady trend
Radia Amar - 23 December 2014
An authentic village in Upper Savoy at the heart of the Portes du Soleil skiing domain, Morzine with 4,000 year-round residents is lively in all four seasons. With its immense skiing domain transformed into mountain bike and hiking trails as soon as weather permits, the resort with 50 hotels, 5 tourist residences, various guest-houses and hotel chalets attracts many tourists and occasional residents.
Back in the 1920’s with the construction of the Grand Hôtel, then the opening of the cable car of Le Piéney in 1934, this village of genuine charm at an altitude of 1000 metres, opened its arms to tourism. Many high-ranking officials based in Geneva apparently fell for the charm of this little town nestling at the end of the valley of Aulps, easily accessible by road in just one hour. They gradually turned it into a classy place to stay which nevertheless remained a rather confidential address. Over the years, Morzine became a village resort blending a warm reception for its guests, traditions, and modern infrastructures, thanks to intelligently controlled development. The commune has retained the appearance of old-fashioned villages (residences on three floors at most, wooden frontages, openworked balconies, slate roofs), while proposing services that meet the demands of a clientele used to prestigious international addresses. The municipality is planning to install a cable car which will link the heart of the village directly to Avoriaz - a large-scale project which should see the light of day in 2020.
Based in Morzine for the past ten years, the Majestic agency has many British and Swiss buyers with hefty budgets among its clients. “Demand for contemporary chalets worth above 1 million euros is steady, though it’s hard to satisfy all of our clients,” says manageress Ingrid Maes. “New or modern properties are becoming scarce, with most of the available stock comprised of old chalets priced from 600,000 to 1 million euros, including a few magnificently renovated old farmhouses.” Apartments with 2 bedrooms are also highly sought-after. Pegged from 350,000 to 550,000 € depending on their location and characteristics, they soon find takers. There is, however, less demand for smaller surface areas, ie. apartments with one or two main rooms. An observation shared by Virginie Krafft, manageress of Lacoutete Immobilier, a family-run agency launched in the early ’eighties and based in Morzine since 1996. “The highest demand is for 2- and 3-bedroomed apartments and chalets,” says this expert, whose clients - 70 % British - are looking for pleasant holiday homes ideally located in the centre. “Supply is low in the face of today’s strong demand. Taxation on capital gains on real estate is acting as a brake for both French and foreign owners who would like to sell their properties.” With average prices ranging from 6,000 to 7,000 € per sq. metre, Morzine thus continues to post high and stable prices, confirming its status as a sound investment.