Authored by the expert who managed and guided the team behind the France Property Pack
Yes, the analysis of the French Alps' property market is included in our pack
Property prices in the French Alps have risen significantly, with apartments up 48% over five years and luxury chalets seeing even stronger growth in prime resorts.
As we reach mid-2025, the French Alps property market continues its upward trajectory, driven by strong international demand, limited supply, and the region's growing appeal as a year-round destination beyond just winter sports.
If you want to go deeper, you can check our pack of documents related to the real estate market in France, based on reliable facts and data, not opinions or rumors.
Property prices in the French Alps are experiencing steady growth, with a 3% increase in 2024 and forecasts of 3-7% growth for 2025.
Prime ski resorts like Courchevel and Val d'Isère command prices exceeding €16,000/m², while emerging areas offer better value starting from €2,340/m².
| Property Type | Average Price (€/m²) | Recent Growth |
|---|---|---|
| Northern Alps Apartments | €3,574 | +20% (3 years) |
| Northern Alps Chalets | €4,265 | +20% (3 years) |
| Southern Alps Apartments | €2,340 | +6% (1 year) |
| Southern Alps Chalets | €2,534 | +6% (1 year) |
| Prime Resorts (Val d'Isère) | €16,100 | +40% (10 years) |
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Fact-checked and reviewed by our local expert
Laurence Rapp 🇬🇧
Sales representative at Skiing Property
How much have property prices in the French Alps increased since 2020?
Property prices in the French Alps have increased by approximately 30% since 2020, representing an average annual growth of 5.5%.
The Northern Alps have experienced particularly strong growth, with prices rising 20% in just the past three years. Properties located above 1,500 meters altitude have seen even more dramatic increases, with prices jumping 40% over the past decade, effectively doubling the growth rate of lower-altitude resorts.
In the Hautes-Alpes department specifically, the five-year appreciation tells an even more compelling story. Overall property prices have surged 45%, with apartments leading the charge at an impressive 48% increase, while houses have risen by 38%. This substantial growth reflects the increasing desirability of Alpine properties among both domestic and international buyers.
Prime chalets in luxury resorts have seen particularly remarkable appreciation, with a 33% increase since 2008, and this growth has accelerated significantly in the post-pandemic era. Some locations like Châtel have reported prices doubling since 2020, while mid-sized chalets in the Portes du Soleil region now average €10,009–€12,743/m², representing a 50% increase in recent years.
The sustained growth pattern indicates strong market fundamentals and continued investor confidence in the French Alps property market.
What are the current average property prices per square meter in June 2025?
As of June 2025, property prices in the French Alps vary significantly by location and property type, with Northern Alps apartments averaging €3,574/m² and chalets at €4,265/m².
The Southern Alps offer more affordable options, with apartments averaging €2,340/m² and chalets at €2,534/m². When looking at ski resorts specifically, the overall average sits at €3,781/m², which is notably higher than the French national average of €2,931/m².
Prime resorts command premium prices that far exceed these averages. Val d'Isère leads at €16,100/m², followed by Courchevel ranging from €11,000 to €14,333/m², Megève at €11,491/m², Chamonix at €9,884/m², and Morzine at €9,299/m². In Courchevel 1850, the most exclusive area, luxury properties can reach €33,200/m².
It's something we develop in our France property pack.
The Hautes-Alpes department presents a middle ground with a median price of €3,065/m², where apartments average €3,233/m² and houses €2,730/m², offering opportunities for buyers seeking value outside the premium resort areas.
Which French Alps locations saw the biggest property price increases in 2024-2025?
Courchevel 1850 led the French Alps property market with a 9% price increase in 2024, significantly outpacing the overall market average of 3%.
The Northern Alps region as a whole has been the standout performer, recording a 20% price increase over the past three years, compared to just 6% growth in the Southern Alps over the past year. This disparity reflects the concentration of premium ski resorts and international buyer interest in the northern region.
| Location | Price Growth 2024 | Current Price Range (€/m²) |
|---|---|---|
| Courchevel 1850 | 9% | €14,333–€33,200 |
| Val d'Isère | 5-7% | €16,100–€30,000 |
| Megève | 4-6% | €11,491 |
| Morzine | 10% (apartments) | €6,638–€8,455 |
| Saint-Gervais-les-Bains | 8% | €6,142 |
Emerging hotspots are also experiencing significant growth as buyers seek alternatives to the most expensive resorts. Saint-Gervais-les-Bains has seen increased demand due to its relative affordability compared to neighboring Chamonix, while areas like St Jean d'Aulps, Le Biot, and Seytroux are benefiting from spillover demand as established resorts become less accessible to new buyers.
What types of properties are experiencing the strongest price growth?
Luxury chalets in top resorts have experienced the strongest price appreciation, with some locations reporting prices doubling since 2020.
The luxury segment consistently outpaces standard properties in price growth due to limited supply and strong international demand. Prime chalets have increased by 33% since 2008, with growth accelerating significantly post-pandemic. In Châtel, for example, chalet prices have doubled since 2020, while mid-sized chalets in the Portes du Soleil region now average €10,009–€12,743/m², representing a 50% increase.
Apartments have also shown robust growth, particularly smaller, affordable units in emerging resorts. In Morzine, apartment prices have grown 10% annually since 2023, now ranging from €6,638 to €8,455/m². Over the past five years, apartments in the Hautes-Alpes have outperformed houses with a 48% increase compared to 38% for houses.
Properties above 1,500 meters altitude have seen a 40% rise in ten years, double the rate of lower-altitude resorts, reflecting buyers' preferences for guaranteed snow conditions and authentic alpine experiences.
The trend clearly shows that scarcity drives value, with unique, well-located properties in prime resorts commanding the highest premiums and strongest growth rates.
What are property price forecasts for the French Alps in 2026?
Property prices in the French Alps are forecast to rise by 3-7% in 2026, continuing the steady growth trajectory observed in recent years.
Expert analysis suggests that prime resorts will likely see growth at the higher end of this range, while emerging areas may experience more moderate increases. The forecast is supported by several fundamental factors including continued limited supply in desirable locations, strong international demand particularly from U.S. and Asian buyers, and the region's increasing appeal as a year-round destination.
Medium to long-term projections remain positive, with experts anticipating moderate but steady growth driven by lifestyle trends such as remote work adoption, an increase in affluent early retirees, and growing focus on health and wellness. The Alps are increasingly viewed as more than just a winter sports destination, with wellness overtaking skiing as the primary lifestyle driver for many buyers.
It's something we develop in our France property pack.
Infrastructure improvements and ongoing development in key resorts will further support price growth, though stricter regulations on short-term rentals and energy efficiency requirements may moderate speculation and favor quality, compliant properties.
How have recent ECB interest rate cuts affected the French Alps property market?
The European Central Bank has cut interest rates five times in nine months, with the deposit facility rate now at 2.50% as of March 2025, significantly improving mortgage affordability.
These successive rate cuts have had a positive impact on the French Alps property market by improving purchasing power and making financing more accessible. Lower mortgage rates have particularly benefited buyers using financing, expanding the pool of potential purchasers and supporting continued demand growth.
The improved financing conditions have been especially significant for international buyers who often rely on mortgages for their Alpine property purchases. With rates now substantially lower than the peaks seen in 2023, monthly mortgage payments have become more manageable, allowing buyers to either afford more expensive properties or reduce their overall investment costs.
Market data shows that the rate cuts have contributed to maintaining price momentum, with the 3% growth recorded in 2024 partly attributed to improved financing conditions. As rates stabilize at these lower levels, experts expect continued support for property demand throughout 2025 and into 2026.
The combination of lower interest rates and strong fundamentals in the Alpine property market creates favorable conditions for both investors and lifestyle buyers.
Which international buyers are most active in the French Alps property market currently?
U.S., U.K., and increasingly Asian buyers remain highly active in the French Alps property market as of mid-2025, particularly in the luxury and prime segments.
American buyers have become increasingly prominent, attracted by favorable currency exchange rates and the prestige of owning property in renowned Alpine resorts. Their purchasing power has been enhanced by the strong dollar, making French Alpine properties more accessible compared to previous years. These buyers typically focus on premium chalets in resorts like Courchevel, Val d'Isère, and Megève.
British buyers continue to represent a significant portion of international purchasers despite Brexit complications, drawn by the proximity and long-standing cultural connections to French ski resorts. They tend to favor established resorts with good transport links to the UK, particularly in the Northern Alps.
Asian buyers, particularly from China, Singapore, and Hong Kong, represent a growing segment of the market. They are attracted to the French Alps' reputation for luxury, excellent ski schools, and the potential for capital appreciation. These buyers often view Alpine properties as both lifestyle investments and safe-haven assets.
This strong international demand is a key factor driving price growth, especially in iconic resorts and for high-end properties, with international buyers often willing to pay premium prices for trophy assets.
How do French Alps property prices compare to Switzerland, Austria, and Italy in 2025?
Swiss Alpine resorts remain the most expensive in Europe, with properties in St. Moritz, Verbier, and Gstaad ranging from €23,700 to €43,600/m², significantly higher than top French resorts.
The French Alps occupy a middle position in the Alpine property price hierarchy. Top French resorts like Courchevel 1850 (€14,333–€33,200/m²) and Val d'Isère (€16,100–€30,000/m²) are less expensive than premier Swiss resorts but command higher prices than most Austrian and Italian destinations.
Austrian Alps properties, exemplified by Kitzbühel at €14,800+/m², are generally more affordable than equivalent French resorts. Notably, Austrian prices fell by 3% in 2024, contrasting with continued growth in France. This makes Austria an increasingly attractive option for value-conscious buyers.
Italian Alpine resorts like Cortina d'Ampezzo, averaging €12,500+/m², offer the most affordable options among premium destinations. However, Italy's top resorts are experiencing strong growth of over 4% in 2024, gradually closing the price gap with French resorts.
The French Alps thus offer a balanced proposition: more exclusive and expensive than Austria and Italy, but more accessible than Switzerland, with strong growth potential supported by international demand and limited supply.
What impact has the 2024 French housing tax reform had on Alpine property prices?
The 2024 French housing tax reform has reinforced demand for energy-efficient, well-located properties in the French Alps, supporting price growth for compliant properties.
Stricter regulations on short-term rentals have been implemented in key resorts like Chamonix, which has capped the number of properties available for tourist rentals. This limitation on supply has paradoxically supported price growth for properties that comply with new regulations, as they become more valuable due to their rental potential.
Energy efficiency requirements have become more stringent, affecting older properties that don't meet new standards. Properties with poor energy ratings now face restrictions on rental and potentially on resale, creating a two-tier market where modern, efficient properties command significant premiums over older, less efficient alternatives.
Tax changes have increased the cost of owning secondary homes in some municipalities, with higher taxes on vacant properties and second homes. However, this has not significantly dampened demand from affluent buyers who view these costs as manageable relative to the lifestyle and investment benefits.
Overall, the reforms have accelerated a flight to quality, with buyers increasingly focused on newer, energy-efficient properties in prime locations that offer both lifestyle benefits and comply with evolving regulations.
Are emerging French Alps resorts offering better investment value than established ones?
Emerging French Alps resorts are offering compelling investment value with entry prices 50-70% lower than prime resorts and stronger growth potential.
Saint-Gervais-les-Bains exemplifies this opportunity, with prices at €6,142/m² compared to neighboring Chamonix's €11,201/m². The resort is experiencing increased demand from buyers priced out of more expensive areas, yet offers similar mountain access and amenities. Areas like St Jean d'Aulps, Le Biot, and Seytroux are seeing gradual price increases as spillover demand from established resorts drives development.
- Lower entry prices: €2,500-€6,000/m² vs €10,000-€30,000/m² in prime resorts
- Higher growth potential: 8-12% annual growth vs 3-5% in established resorts
- Infrastructure improvements: New lifts and facilities attracting more visitors
- Authentic alpine atmosphere: Less commercialized, more traditional charm
- Better rental yields: Lower purchase prices can mean higher percentage returns
- Development opportunities: More flexibility for renovations and new builds
However, established resorts offer proven track records, superior infrastructure, international recognition, and stronger liquidity. The choice depends on individual investment goals: capital preservation and prestige favor established resorts, while capital growth and value favor emerging destinations.
What will drive French Alps property prices over the next decade through 2035?
Experts predict the French Alps property market will be driven by lifestyle megatrends through 2035, with health and wellness overtaking skiing as the primary driver for buyers.
The shift towards year-round destination appeal is fundamental to long-term price growth. Remote work adoption allows affluent professionals to spend extended periods in the mountains, transforming second homes into primary residences. This trend particularly benefits resorts investing in summer activities, wellness facilities, and high-speed internet infrastructure.
Climate change paradoxically strengthens demand for high-altitude properties as buyers seek reliable snow conditions and cooler summer retreats. Properties above 1,500 meters have already seen 40% higher growth rates, and this altitude premium will likely increase as weather patterns evolve.
It's something we develop in our France property pack.
Limited supply remains a crucial factor, with strict planning regulations and geographic constraints preventing significant new development in prime locations. Combined with growing demand from emerging markets, particularly Asia, this supply-demand imbalance supports long-term price appreciation.
Infrastructure investments, including improved transport links and resort modernization, will further enhance accessibility and appeal, particularly for international buyers seeking convenience alongside alpine authenticity.
Should you buy property in the French Alps given current mortgage rates and price trends?
Current market conditions in the French Alps favor buyers, with ECB rate cuts improving affordability while property prices continue their steady upward trajectory.
The combination of 2.50% ECB rates and 3-7% expected price growth creates a positive investment environment. For buyers using financing, the reduced mortgage costs significantly improve cash flow and return on investment calculations. A €500,000 property purchase now requires approximately €2,000-€2,500 monthly payments on a 20-year mortgage, compared to €2,500-€3,000 at peak rates.
Market fundamentals remain strong with limited supply, growing international demand, and the region's evolution into a year-round wellness destination. Properties in prime resorts offer capital preservation and prestige, while emerging resorts provide higher growth potential at lower entry points.
However, buyers should consider additional costs including property taxes, maintenance, and potential rental management fees. The 2024 tax reforms mean careful selection of energy-efficient, regulation-compliant properties is essential for maximizing long-term value.
For lifestyle buyers seeking a mountain retreat or investors targeting the luxury tourism market, current conditions offer an attractive entry point before anticipated further price increases materialize.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Property prices in the French Alps are definitively going up - the answer is "Yes a lot". With apartments showing 48% growth over five years and prime resorts like Courchevel experiencing 9% annual increases, the upward trend is unmistakable.
The market benefits from powerful fundamentals: limited supply in desirable locations, strong international demand from U.S. and Asian buyers, favorable ECB interest rates at 2.50%, and the region's transformation into a year-round wellness destination. Expert forecasts predict continued growth of 3-7% annually, supported by lifestyle trends and infrastructure improvements that will sustain demand through 2035 and beyond.
We made this infographic to show you how property prices in France compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It's an easy way to spot where you might get the best value for your money. We hope you like it.
Get fresh and reliable information about the market in the French Alps
Don't base significant investment decisions on outdated data. Get updated and accurate information with our guide.
Sources
- Collection Chalet - Winter 2024-2025 Property Market Trends
- Actu Montagne - Ski Resort Property Market 2024
- Le Figaro - Hautes-Alpes Property Prices
- Agence Boan - Alpine Property Report 2025
- Croisette - Alpine Property Report 2025
- Alpine Property - Market Report May 2025
- Naef Prestige Knight Frank - Alpine Report 2025
- UBS - Alpine Property Focus
- Worldwide Property - ECB Interest Rate Update March 2025
- E-Sales International - French Property Market Outlook 2025