A “frontier” market : an array of opportunities

The number of French people working in Switzerland is currently close on 100,000. A figure that could double by the year 2020. Survey of a very speciific market...

Benefiting from the dynamism of Geneva and quality transport services (an international airport, TGV line and motorways), the urban unit of Annemasse-Geneva is seeing a constant rise in its population figures and a level of unemployment lower than the national average. The market is comprised of three areas : the agglomeration of Annemasse, Saint-Julien-en-Genevois and Le Pays de Gex. Looking to the future, this zone is strengthening its infrastructures, especially with the Ceva railway connection linking Upper Savoy and Geneva, scheduled to go into service at the end of 2017.

“Families of executives employed in Geneva are increasingly drawn by the periphery of Annemasse, especially the pleasant commune of Vétraz-Monthoux,” says Valery Vaubien, manager of Accort Immobilier, an agency based in Gaillard since 1989. “Our clients are mostly looking for homes close to public transport facilities. In the area known as Le Genevois, a 2-bedroom apartment of 70 m2 sells for around 3,500 € per sq. metre, a recent 4 bedroom villa of 120 m2 with a garden of 800 m2, for about 450,000 €,” explains our specialist. He adds, however, that in the many new developments that have appeared in this area, prices of apartments can easily rise above 4,500 € per sqm. And contemporary villas may also be proposed at prices up to 700,000 €.

Founded in Saint-Julien-en-Genevois in 1996 and based since 2009 in Collonges-sous-Salève, the family-run agency Affair Immobilier, managed by Christian and Tamara Petament, applies its expertise throughout the entire agglomeration of Annemasse : Archamps, Bossey, Ambilly, Etrembières, Cranves Sales, Vétraz-Monthoux, Le Châble Beaumont, Viry… “Even though the market has been tighter over the past few months, prices are tending to become more reasonable,” explains Christian Petament. In this zone, a few communes stand out from the rest, such as Le Châble Beaumont, where the prices practised guarantee good value for money in terms of quality. As evidenced by a charming terraced house with usable living space of 142 m2 : with its five bedrooms and small garden of 100 m2, it is on offer at 485,000 €. Just 8 minutes from the customs, it symbolizes the kind of opportunities that are available here today. Another example is a house in Archamps : with living space of 140 m2, a full basement and a garden of 600 m2, it is up for sale at 575,000 €. “A very appealing price,”, according to our estate-agent. With its schools, new multi-sport hall and a village centre offering the main kinds of shops, Collonges-sous-Salève provides a pleasant life-style, appreciated by families. Here, the agency is even offering a few building plots. The clientele for this type of investment is mainly Swiss. The municipality authorizes contemporary cons­tructions, including “cubic” villas with flat vegetalized roofs. To make this dream come true, one needs to acquire a building plot of at least 1,200 m2, costing from 330 to 380 € per sqm. A good number of new developments are also currently being marketed. Such as the residence “Les Alizées” in Viuz-en-Sallaz, where terraced villas of 80 m2 with four main rooms and gardens of 200 m2 are priced from 255,500 €. Or “Le Parc du Salève” in Etrembières, where pleasant villas can be found from 315,900 €.

“New properties are in fact doing better than old ones, even here, in the Saint-Julien-en-Genevois area,” declares Christophe Duchosal, director of the Genevois Immobilier agency, founded in 1992. Set further back and less densely built-up, this market contrasts with that of Annemasse. “Over the past year, there has been a slowdown in the rate of transactions. Buyers who have a choice prefer new properties, which has led to a significant decline in sales volumes for older homes. The overall climate is due to global economic uncertainty, but also to our public transport services, less efficient than those in Annemasse. And measures such as the disappearance in June 2014 of the right to opt for health insurance enjoyed by French people working in Switzerland hardly help to boost the morale.” Christophe Duchosal gives an example of a contemporary villa of 103 m2 with a garden of 282 m2 on the commune of Chevrier. Offered for sale at only 340,000 €, it has inspired very few visits despite its excellent value for money. On the other hand, the rental market here is doing well, in spite of its high prices.