Situated on the shores of Lake Geneva, facing Lausanne and 45 km north-east of Geneva, Evian-les-Bains owes its renown to the mineral water of the same name, its thermal spa and an array of first-class tourist facilities. Our estate-agents give us insider information on this town in Upper Savoy…

Evian’s development dates back to the 11th century, though it had to wait until the 19th century before attaining real prosperity, thanks to the thermal spa. Between the two World Wars, artists and crowned heads regularly met up there. After 1945, enthusiasm faded away and some of the town’s palatial hotels were then converted into private housing. In June 2003, the official reception of the G8 said much about the locality’s historic reputation. Four years later, the congress area of the Palais Lumière was inaugurated, ie. the former spa, freshly renovated. The neighbouring commune plays host to the world's largest bottling plant, with 5 million units produced daily. The economy is thus based on mineral water, produced by a branch of the Danone Group, and tourism, with the casino still a leading attraction. Home to 8,150 inhabitants, Evian is composed 68 % of year-round residences, 22 % of holiday homes and 10 % vacant. Apartments account for two-thirds of the total accommodation. “The recession has resulted in prices finding a more normal and coherent level. At no time has there been any question of a collapse. Since the beginning of the year, confidence seems to making a comeback, and the pace of transactions has shown satisfactory progress,” says Valérie Leguay of the Feelimmo agency. Her clientele is split evenly between rental investors, borderline commuters working in Lausanne and retirees looking for a pleasant place to live, occasional residents, mostly French from Paris or Lyon, or Middle Eastern and Russian in the case of exceptional properties. The average budget for main residences ranges from 300,000 to 350,000 €, a sum bringing an unpretentious home of 90 m2 with a garden of 400 m2 and some refurbishment ahead, an apartment of 120 m2 to be restored, or 85 m2 in good condition in a quality residence. Purchasers of second homes may pay as much as 1 million euros, the price-tag on a villa of 200 m2 in perfect condition on the greens, or a top-floor apartment with the same surface area and a terrace overlooking the lake. As for investors, they are ready to pay 100,000-150,000 € for 1-bedroom apartments. While the yield does not exceed 4 %, long-term appreciation and Scellier tax benefits exercise their appeal. Demand is just as steady for year-round as for seasonal rentals, due to the presence of spa clients and temporary workers.

“Desirable apartment residences are the star attraction in Evian,” says Délia Dhordain of Laforêt Immobilier. She cites Les Diamantines, a modern residence with comfortably-off tenants, offering large terraces overlooking Lake Geneva, a rare commodity here, or La Résidence du Parc, the former palace where the agreements for Algerian independence were signed in 1962, surrounded, as its name suggests, by a magnificent park. Here, the price per sq. metre is 4,000 €. To obtain the same rate but for a house, sparingly represented in Evian itself, one has to head for Neuvecelle in general and Les Matherons in particular,
a neighbourhood situated on the road to the golf-course, which also hosts a tennis club. One here discovers luxurious private homes costing from 600,000 to 1.5 million euros. Among her most recent transactions, Délia Dhordain mentions a timber-frame house of 200 m2 in grounds of 1,300 m2 with a plunging view of the lake, sold for 550,000 €, and a villa of 280 m2 flaunting ostentatious luxury in in generous grounds of 1,600 m2, which found a buyer at 887,000 €.

“Wherever you happen to be in Evian, the landing pier and boat to Switzerland are less than 10 minutes away,” smiles Philippe Soulié of the Groupe International Immobilier. “It’s the main means of transport to Lausanne, a source of clients with high purchasing power.” On the other hand, locals working on French territory find it hard to become home-owners, given prices that often exclude them from the market. The recent decline of the euro has further widened the gap. Standard accommodation and the top end of the market therefore co-exist on a site experiencing a rate of turnover well above the national average. Consisting of about five years instead of seven, this mobility partly explains Evian’s very high level of activity.