Price variations, restrictions and new needs, the health crisis has turned the real estate market upside down. But what about Chamonix? Jean-François Bouillier, manager of the CENTURY 21 Mont-Blanc Invest agency, tells us about the dynamics of the market in Chamonix.
How is the real estate market in Chamonix ?
"Despite the particular context, real estate in Chamonix remains dynamic with buyers still numerous and motivated to find a property. The apartments and chalets put up for sale over the last twelve months have found their future owners quickly when the values set were in line with market prices. More than ever, real estate is a safe haven for a large number of investors and Chamonix remains an essential resort for those looking for a safe investment." says Jean-François Bouillier.
Has the health crisis had an impact on this market ?
The health crisis that has been going on for more than a year has had an impact on the real estate market, Jean-François Bouillier tells us "The pandemic has indeed had an impact on transactions in Chamonix. On the buyers' side, it has certainly reduced the number of visits in the last few months by limiting the possibilities of travel. However, a good portion of clients with a purchase project, especially the most motivated, still come to Chamonix to visit and finalize their purchase. The number of contacts via internet remains equal to the previous year, which shows that the enthusiasm for Chamonix remains the same despite the current situation.
As far as apartments and chalets for sale are concerned, we have noticed a decrease in the number of properties arriving on the market over the last few months. This, combined with the number of potential buyers always important, has created a significant gap between supply (which has become scarcer) and demand (which is still strong)," continues Jean-François Bouillier. "Generally speaking, this phenomenon can be observed almost everywhere in France. In a context of uncertainty, owners are postponing their projects. Thinking that there won't be enough buyers and that their property will be on the market for a long time, they restrict themselves to selling."
Is it the right time to sell ?
In a context of uncertainty, it is important to seize the right opportunities and to know the trends for owners. The manager of CENTURY 21 Mont-Blanc Invest explains, "In the Chamonix Valley, selling your chalet or apartment now will not be a problem. Fears of a price drop or a longer delay are not justified in view of the latest transactions carried out by our agency.
Concerning the financing of the buyers, a good part of them buys with their own funds and does not have to make any banking steps before the signature of the deed. For our clients who have to obtain a bank loan, our agency ensures their solvency before signing the sales agreement. By being meticulous on this point, we avoid a possible refusal of loan which wastes time to the sellers. With this systematic control, our clients have not been refused financing for over 10 years.
All the indicators are therefore green to sell your property in Chamonix today.”
What are the real estate market prices ?
The Covid-19 has caused a change in prices on the real estate market in France. But what about the Chamonix sector ? "It may seem paradoxical, but prices have increased since the first containment began in March 2020. The scarcity of supply has undoubtedly contributed to this increase.”
Jean-François Bouillier continues "Prices vary of course according to several criteria (location, orientation, floor, land area ...). Here are some recent examples :
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Recently, we sold a large new apartment with a Mont-Blanc view in the village of Les Praz at nearly 11,000 € per m².
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A transaction also took place in the Savoy area for a 2 rooms apartment to refresh at the same price per m² (11 000 €)
with a view on the Savoy slope and on the Mont-Blanc.
- A 3-Rroom apartment to modernize, on the top floor of a beautiful residence in the center of Chamonix also found a buyer at 9 400 € per m².
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A chalet located in the Praz plain, 15 minutes walk from the center of Chamonix sold for a little more than 12 000€ per sqm.
It was in perfect condition and benefits from an exceptional location.”
What is the outlook for the Chamonix real estate market ?
“The first quarter of 2021 has seen a strong dynamic that should continue throughout the rest of the year and the number of buyers will remain high in the coming months. New criteria are emerging with a clear increase in the search for a chalet. Apartments located in the city center are of course still very much in demand, but we are noticing that the demand for individual housing is higher than in previous years." informs Jean-François Bouillier.
What is the liquidity of a property in Chamonix ?
“Chamonix, as everyone knows, is a mountain town with activity throughout the year. November is a little quieter, but we do have sales every year during the All Saints' vacation. All the periods of the year are therefore promising to put a property on sale. Our agency will be able to find buyers whatever the period when an owner decides to sell his property.
Once the apartment or chalet is put up for sale, and provided that the price is in line with the local real estate market, the right buyer is usually found within two to four months." concludes Jean-François Bouillier. Chamonix remains a resort and an essential sector despite the health crisis. Buyers are still coming forward and real estate remains a safe haven.
