The ever-popular Chamonix

This resort draws a cosmopolitan clientele, keen on Alpine activities, skiing, hiking or quite simply relaxation in the mountains, highlighted by luxury boutiques and a wide choice of restaurants. The omnipresent Mont-Blanc, nicknamed the “roof-top of Europe” thanks to its altitude of 4810 metres, offrers breathtaking views and a vast outdoor play-ground.

While Chamonix inevitably tops the bill, Les Houches, its hamlets between Alpine meadows, forests and rushing streams, is much appreciated by families. Below the mountain chain of Les Fiz, Servoz places its bets on authenticity and proposes lovely views of Mont-Blanc. As for Vallorcine, it is developing in perfect harmony with its surrounding nature. The valley of Chamonix is 15 km from Switzerland, via the Col des Montets, and from Italy, via the Mont-Blanc tunnel. The centre of the resort stands at an altitude of 1035 metres, while Le Village du Tour rises to 1462 metres. 9,400 people live here year-round, and the population swells to 100,000 in summer, 60,000 in winter. Glaciers cover an area of 125 km2. Not forgetting the famous “Mer de Glace”, reached on a little train from Le Montenvers. Chamonix offers three skiing domains (Les Grands Montets, Brévent/Flégère and Balme), giving a total 108 km of slopes. Finally, fans of Savoyard cuisine are in their element whether they opt for “gratins”, “fondues”, “raclettes”, “croûtes”, “tartiflettes”, “reblochonnades” or the absolute must, “farçon”.

“Unlike other resorts, Chamonix with its motorway and rail connections, and only 1 hour from Geneva airport, benefits from very easy access. Surrounded by glaciers, it enjoys unique panoramic views,” says Olivier Masson of the Agence Montagne. Demand is steady and encompasses all price brackets. The old site offers a varied array of accommodation, from a large apartment in a palace transformed into a prestigious chalet, to small units built with the boom in winter sports. Depending on their location in the valley, their condition and views, a studio costs from 90,000 to 150,000 €, a 1-bedroom apartment from 120,000 to 400,000 €. The least expensive chalet our estate-agent admits to selling was priced around 360,000 €, “a ravishing property of 33 m2 with a garden of 280 m2 in a highly prized neighbourhood,” he says. Over the past 15 years, Chamonix has been endowed with some magnificent homes in terms of both surface areas and appointments, imitating the trend initiated by Courchevel and Megève. Some are worth up to 7 million euros. The notion of prestige is now well into its stride, though hard-bitten sports enthusiasts are, of course, still there. In fact, the customer profile is widening, at least in the rental sector, considered as a stepping stone to acquisition. French, Swiss, Canadians, Italians, Scandinavians and Russians all rub shoulders in this renowned village. In the current economic climate, clients searching for prime locations are not rare. And this destination certainly belongs to the category.

“In terms of both prices and popularity, Chamonix is known as a stable market and a blue-chip investment,” says Brigitte Comte of L’Agence Immobilière Moderne (L’A.I.M.). The three most recent sales handled by the agency include a studio of 36 m2, at 130,000 €, an apartment of 55 m2 in need of a revamp, at 295,000 €, and a chalet of 250 m2 in excellent condition with grounds of 700 m2, at the heart of the village, at 1,680,000 €. The first buyer, of French nationality, was simply focusing on his own personal enjoyment and paid cash. Idem for the second, English this time. The third purchaser was from the region, wanting to take advantage of his property on weekends and during the holidays. The French and Swiss comprise the largest part of the market. The valley posts surprising disparities in prices : Chamonix-centre and Argentière benefit from their historic reputation and are thus expensive. Les Bossons and Les Houches are a notch below. Some clients find the one rather noisy, the other lacking in sunshine in certain spots.

Nicole Berguerand of Alp’Immo describes a chalet of 200 m2 in Les Houches offering refined appointments, acquired by Italians for 1,250,000 €, an apartment of 50 m2 in Argentière, which sold for 380,000 €, and a 1-bedroom apartment of 50 m2, at 330,000 €, the last two both acquired by French buyers. High-class finishing touches are, however, in the minority. While they are definitely making progress, the comparison with Courchevel isn’t always flatttering. On the other hand, the desire to invest in a sound address considered as a “safe haven” appears to be the common denominator behind all these transactions.

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