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FRANCE
Across the border in
Chamonix
, the ever popular Mecca of extreme skiing is shortly to
benefit from a £400m investment to upgrade the lift and resort infrastructure. A shortage
of development sites in the Chamonix Valley, together with a gentrification of the resort’s
town centre in recent years, is adding to its appeal not just as a ski resort, but as a year
round destination. Chamonix’s property market was one of the fastest to recover (of the
French resorts), post financial crisis. With premium prices having surpassed pre-crisis levels
(now excess 11,000/m
2
), the resort is well positioned to take advantage from neighbouring
Swiss investors, as well as resurging domestic demand.
Many parallels can also be drawn with
Morzine
. Although low in altitude, this has not
deterred investors who buy here for the access it affords to 650km of skiing across France
and Switzerland and year-round activities. A planned new lift between
Morzine
and
Avoriaz
at a projected cost of ¤50m, will significantly improve connectivity into The Portes du
Soleil. Other improvements have recently been made to the Prodains lift and to the resort
centre itself. The town itself is a hive of commercial and residential redevelopment, which
is the same story in neighbouring
Les Gets.
Expect new build property values to continue
to compete with Chamonix.