Les Aravis, a wide choice of resorts

In 2006, the “massif” of the Alps between the agglomeration of Annecy, the valley of the Arve and Le Val d’Arly was listed as a “Natura Site 2000”. La Clusaz and Le Grand-Bornand now boast international renown, though the more discreet Manigod and Saint-Jean-de-Sixt are not lacking in charm.

“The aim of La Clusaz is easy to see : undergoing extensive development, this village resort is targetting prestige,” say Olivia Pessey and Joël Baud of Arvis-Immo. “At Christmas 2011, it was endowed with a 5-star hotel. And plans for a balneotherapy centre are currently in the pipeline.” Less than an hour from Geneva, it fully assumes its dual vocation as a winter resort focusing on skiing, and a summer destination proposing mountain activities, mountain biking and the lake. Two-thirds French, the clients are exclusively interested in holiday homes, whether apartments priced from 5,000 to 9,000 € per sq. metre with at least one bedroom but preferably two or three, or chalets ranging from 1.2 to 2 million euros. One thus needs a budget of 300,000 to 700,000 € for an apartment with 2/3 bedrooms. Our estate-agents mention the recent sale of one example offering basic appointments, 2 bedrooms and bathrooms, in a residence near the centre, at around 300,000 €, and a chalet of 140 m2 not far from the ski-runs and village, at 1.5 million euros. The agency regrets the scarcity of available properties. Some buyers fall back on Manigod, Saint-Jean-de-Sixt or La Giettaz, where chalets of sound construction range from 500,000 to 900,000 €. Genuinely fond of La Clusaz, owners rarely part with their homes. This lack of mobility explains the limited stocks. Somewhat hesitant, purchasers are also keeping an eye on up-coming changes in tax regulations.

Patrick Thevenet of the Agence Immobilière Atherac comments on the 15 % drop in the volume of sales. Prices, however, remain stable. As for the so-called middle market, it seems to be disappearing. The last five sales orchestrated by the agency involved apartments pegged between 4,300 and 7,300 € per sq. metre. In 2012, the agency handled the sale of seven chalets in La Clusaz and the surrounding area, priced from 567,000 to 2.1 million euros. Three of them were acquired by Swiss buyers. Also a developer, Patrick Thevenet stresses the wide difference between values for old and new properties, the latter costing 10,000 to 12,000 € per sq. metre. He is, in fact, supervising the construction of prestigious chalets which can be acquired straightforwardly or under a para-hotel tax scheme allowing for savings in VAT, as long as one does not exceed 180 days of occupancy per year. One example of 185 m2 built of timber and stone masonry, with a jacuzzi and lift, in the valley of Les Confins facing Les Aravis, has just sold for 2.1 million euros. Beneath the bar of 4 million euros, “L’Excellence” is the flagship of this development, boasting a surface area of 360 m2 with five suites, a swimming pool, hammam, sauna, home cinema and 3-car garage. In parallel, “Snow Lodge” offers tailormade services based on the principle of “hotel conciergerie”. With this kind of budget, the client does not obtain a level of quality equivalent to that seen in Megève or Courchevel 1850.

“Thônes benefits from a strategic location between the lake and ski slopes, Annecy and the resorts,” explains François-Xavier Loyer of Luxalpes Immobilier. “A location guaranteeing it occupancy just as heavy in summer as in winter. Thanks to its proximity to Geneva’s airport, it can even set its sights on an international clientele.” Buyers here - 60 % looking for year-round accommodation, 40 % holiday homes - give priority to generous surface areas and activities in the great outdoors. Less affected by seasonal considerations than its neighbours higher up, Thônes benefits from shops and other amenities which function year-round. Looking forward to retirement, French 50 year-olds invest in old stones, charm and character, chalets costing 500,000-550,000 €. Working couples, one often working in the prefecture of Haute-Savoie, the other in the resorts of Les Aravis, pay 450,000 to 650,000 € for their homes. Finally, the expectations of those looking for holiday accommodation, fond of typical architecture, contemporary decor and attractively landscaped gardens, pretty much coincide with the taste of full-time residents. One last point : apartments are the most popular choice among rental investors.

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