Awarded the title “City of Art and History” in 2003, Albertville stands at the crossroads of the four Alpine valleys, La Combe de Savoie, La Tarentaise, Le Val d'Arly and Le Beaufortain, less than an hour’s drive from the major French winter sports resorts. Focus on a town which is still affordable…

Since the merging of Conflans and L’Hopital in 1836, Albertville began to grow to the tune of commercial exchanges between Switzerland, Italy and France. Its many waterways served a thriving industry centered around leather tanning, paper-mills and hydro-electricity. It was, however, in the second half of the 20th century, and thanks to enthusiasm for skiing and other mountain disciplines, that the region was to acquire its credentials. Consecration came in 1992 when Albertville hosted the 16th Winter Olympic Games. Preparations had begun straight after the announcement, six years earlier, with a wave of construction work that dramatically transformed the urban area. Starting with the town centre, recognizable for its railway station, the neo-classic town hall designed by Eugène Dénarié, and its neo-gothic church named after St. John the Baptist. The architect Jean-Jacques Morisseau designed the now famous Place de l'Europe, opening out to the medieval bourg of Conflans. The glass and concrete esplanade is home to Le Dôme which in turn contains the theatre, cinema and mediatheque.

“Albertville is showing pretty good resistance,” says Virginie Collin of Laforêt Immobilier. “Though neighbourhoods on the outskirts are feeling the pinch. A few transactions in the northern part of town, where buildings are beginning to date, are laboriously concluded at 1,600 €/m2. With price-tags of 1,900 €/m2, the south suffers severe competition from new and emerging sectors. Between this area and Plan-Perrier developments at 2,500-2,700 €/m2, buyers do not hesitate for long. The centre is doing very well. One can certainly criticize its noisiness, its lack of practicality and garaging, it nevertheless remains the preferred address among younger buyers, ready to pay 1,700-1,800 €/m2. Fans of individual housing head for the nearby villages, Mercury, Pallud, Gilly-sur-Isère, or even more distant villages such as Grignon, Frontenex, Tournon or Ugine with its employment opportunities. For 300,000-320,000 €, they can acquire a renovated farmhouse of 170 m2 with grounds of 2,000 m2, whereas a new villa of 120 m2 with a garden of 1,000 m2 costs 290,000 €. First-time buyers look for barns to restore. This type of property, probably the one bringing in the most calls, does not exceed 120,000 € for a home of 120 m2 ready to move in. The typical budget currently ranges from 190,000 to 220,000 €. Albertville is a fall-back solution if one can’t afford Chambéry, Annecy or Grenoble, which are much more expensive. Demand remains strong as long as the price reflects the prevailing grid. A house offered at 245,000 € will stay for two years in an agency without inspiring any interest ; at 190,000 €, it will sell within a week. Similarly, a farm proposed at 345,000 €, the estimation value, will find a buyer on the very first visit.

“The exponential growth of construction observed over the last three years and pursued despite real needs has upset the balance. In addition to unfinished developments, there are currently 320 vacant homes in Albertville. The result is that prices for both sales and rentals are falling. Prices for acquisitions in fact show a drop of 10 to 15 %,” says Franck Silvin of the Agence Immobilière des 2 Savoie (AGI2S) which, as its name implies, covers “départements” 73 and 74. Not being eligible for Scellier tax benefits, the town should no longer attract French investors as of December 31st, 2009, when advantages offered by the De Robien Recentrée act will also expire. People working in the resorts, where housing is expensive, may then turn their attention to this affordable address, even more so than residents of Chambéry, Annecy and Grenoble. But it's the state of the economy which will determine the future of Albertville’s property market. Building land available on the periphery is in steady demand, especially in the residential villages of Mercury and Gilly-sur-Isère. Here, a plot with mains connections installed costs 140-150 €/m2 versus 100-130 €/m2 within a radius of 10 km around the sub-Prefecture. With a budget of 300,000 €, the buyer can build his own home, readily abandoning a new 3-bedroomed house in favour of the house of his dreams. Finally, in the case of both houses, apartments or renovated properties, energy savings turn out to be a prime concern.