Authored by the expert who managed and guided the team behind the France Property Pack
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What is happening in the French Alps’ real estate market? Are prices climbing or stabilizing? Is Chamonix still a prime destination for international buyers? How are local regulations and environmental policies shaping property investments in 2025?
These are the questions we hear every day from investors, homeowners, and real estate enthusiasts, from Annecy to Megève and beyond. Perhaps you’re curious about these trends too.
We know this because we stay closely connected with local experts and people like you, exploring the French Alps real estate market daily. That’s why we crafted this article: to offer clear insights, thoughtful analysis, and a comprehensive view of market trends and dynamics.
Our aim is straightforward: to make sure you feel informed and confident about the market without needing to search elsewhere. If you think we missed something or could improve, we’d love to hear your feedback. Feel free to reach out with your thoughts, and we’ll strive to enhance this content for you.
How this content was created 🔎📝
Fact-checked and reviewed by our local expert
Laurence Rapp 🇬🇧
Sales representative at Skiing Property
1) Properties in year-round activity areas like Annecy will attract investors seeking steady rental income
Properties in areas with year-round activities, like Annecy, have become more attractive to investors seeking consistent rental income for several reasons.
First, Annecy has shown a strong and resilient tourism industry. In 2023, the town attracted nearly three million visitors, and even in 2024, it maintained a high level of tourist interest with over 34,000 requests, indicating a loyal visitor base. This consistent influx of tourists ensures a steady demand for rental properties throughout the year.
Additionally, the rental yields in Annecy are promising. Long-term rentals offer an average monthly income of €15.9 per square meter, while short-term holiday rentals can generate an average annual revenue of €28,600 with a 64% occupancy rate. These figures highlight the potential for substantial rental income.
Moreover, Annecy hosts various events and activities year-round, such as the Fête du Lac and the Annecy International Animation Film Festival. These events, along with the town's natural beauty and leisure activities, attract tourists in all seasons, further supporting consistent rental demand.
Sources: La Demeure du Parc, OVO Network, INSEE, Visiter Lyon
2) Swiss buyers will show increased interest due to proximity and favorable exchange rates
Swiss buyers are increasingly eyeing properties in the French Alps due to proximity and favorable exchange rates.
The Swiss Franc has been quite stable against the Euro, with a slight dip from 1.071 to 1.062 EUR/CHF between 2024 and 2025. This stability makes it financially appealing for Swiss buyers to invest in the Eurozone, especially in the scenic French Alps. Switzerland's economic stability, underscored by the Swiss National Bank's early rate cut in March 2023, further boosts buyer confidence. This economic backdrop enhances the purchasing power of Swiss nationals, making it easier for them to consider property investments abroad.
The French Alps are just a stone's throw away from Switzerland, making them an attractive option for Swiss buyers. This proximity allows for easy travel and the potential to use these properties for both leisure and investment. Real estate agencies have noticed a surge in inquiries from Swiss clients, signaling a growing interest in French Alpine properties. This trend aligns with the rise in summer tourism in hotspots like Chamonix, hinting at increased cross-border travel and potential property investments from Swiss nationals.
Swiss buyers are drawn to the French Alps not just for their beauty but also for the investment potential. The region offers a unique blend of leisure and investment opportunities, making it a compelling choice for those looking to diversify their property portfolio. The stable exchange rate and Switzerland's robust economy make it an opportune time for Swiss nationals to explore property options in the French Alps.
With the Swiss Franc holding steady, Swiss buyers find themselves in a favorable position to invest in the Eurozone. The French Alps, with their stunning landscapes and proximity to Switzerland, present an ideal opportunity for those looking to invest in property. The combination of economic stability and geographical convenience makes the French Alps an attractive destination for Swiss buyers.
As interest from Swiss buyers continues to grow, the French Alps are poised to become a hotspot for property investment. The region's appeal lies not only in its natural beauty but also in its potential for financial returns. With the Swiss Franc maintaining its strength, Swiss buyers are well-positioned to take advantage of the opportunities in the French Alps.
Sources: Alpine Property Report 2025 - Croisette, Swiss Franc to Euro Exchange Rate Market Daily Trends - YCharts, Swiss franc: 2024 outlook and forecast - Pictet, Alpine Report 2025 (PDF) - Knight Frank Research
We did some research and made this infographic to help you quickly compare rental yields of the major cities in France versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
3) Interest in properties near nature and recreational facilities will grow due to the demand for wellness and outdoor activities
In recent years, the desire for wellness and outdoor activities has significantly influenced people's interest in properties with access to nature and recreational facilities. The French wellness tourism market, for instance, generated $60.6 billion in revenue in 2022 and is projected to reach $149.7 billion by 2030. This growth reflects a rising demand for wellness-related activities, which often include outdoor pursuits like hiking and skiing.
Moreover, the increasing sales of outdoor recreational equipment from companies like Aventure Nordique highlight a growing interest in activities such as hiking, trekking, and bikepacking. This trend suggests that more people are prioritizing outdoor experiences, which naturally extends to their preferences in property locations.
Consumer surveys and real estate market reports further support this shift. For example, the National Recreation and Park Association's 2024 Engagement With Parks Report shows that a significant portion of people frequently visit parks and recreation facilities, indicating a preference for living near nature. Additionally, real estate reports often emphasize the demand for properties with easy access to outdoor activities, driven by the growing interest in wellness and outdoor recreation.
Sources: Grand View Research, Aventure Nordique, NRPA Engagement Report
4) Luxury chalet demand in the French Alps will grow as high-net-worth individuals seek exclusive retreats
The demand for luxury chalets in the French Alps is on the rise as wealthy individuals look for exclusive getaways.
In the Northern Alps, the luxury property market is booming. There's been a noticeable shift towards high-end properties, with sales in the €4M-€10M range jumping by 16% and those over €10M soaring by 36%. This trend is driven by the allure of the Alps' stunning landscapes and the desire for privacy.
Globally, the number of ultra-wealthy individuals is climbing. In 2023, this group grew by 7.6%, now totaling 426,000 people with a combined net worth of $49.2 trillion. Their financial power is steering them towards luxury real estate, including the high-altitude chalets in the French Alps.
Surveys show a strong preference for secluded vacation spots. According to Knight Frank's Ski Property Report, 60% of respondents expect Alpine property prices to rise. This reflects a robust demand for luxury chalets, where the natural beauty and wellness opportunities of the region are major draws.
These affluent buyers are not just looking for a home; they want a retreat that offers both luxury and health benefits. The French Alps provide a perfect blend of both, making them an attractive option for those seeking a unique lifestyle investment.
As the ultra-wealthy population continues to grow, so does their interest in exclusive properties. The French Alps, with their breathtaking views and serene environment, are becoming a top choice for those looking to invest in luxury real estate.
Sources: Domosno, PR Newswire, Benoit Properties, World Property Journal
5) Emerging alpine regions will experience gradual price increases as they gain recognition and popularity
Properties in emerging alpine regions are likely to see a gradual price increase as they gain recognition and popularity. One reason is the rising property prices in established alpine regions, which saw an average increase of 3% in 2024, with places like Courchevel 1850 experiencing a 9% rise. This trend suggests that as established areas become more expensive, people will start looking at emerging regions as more affordable alternatives.
Another factor is the spillover demand from popular areas like Chamonix, which saw a 46% increase in summer lift passes over two years. This indicates a strong trend toward year-round tourism, which can boost demand for properties in lesser-known areas. As more tourists visit these emerging regions, the demand for accommodation and investment opportunities will likely increase.
Additionally, improved infrastructure development in emerging alpine areas plays a crucial role. Better road and rail connections make these regions more accessible and attractive to tourists and investors. This increased accessibility can lead to more people visiting and eventually investing in these areas, driving up property prices.
Sources: Knight Frank Alpine Property Report 2025, Alpine Property Report 2025, Eurostat Tourism Statistics
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6) Rental yields in dual-season areas will increase due to consistent year-round tourist demand
Properties in dual-season areas like the French Alps are becoming increasingly popular due to year-round tourist demand.
Since 2023, more tourists are flocking to these regions not just for winter sports but also for summer activities. In Chamonix, for example, summer lift passes jumped by 46% over two years, showing a strong shift towards year-round tourism. This trend is backed by the Alpine Property Report 2025, which highlights a rise in summer activities driving demand for Alpine properties.
Dual-season resorts are seeing high occupancy rates, with up to 60% during the summer months. This means properties in these areas are highly sought after, leading to higher rental yields. The consistent demand throughout the year makes these properties a smart investment.
Imagine owning a property where tourists come for skiing in winter and hiking in summer. The French Alps offer this unique opportunity, making them a hotspot for property buyers. The year-round appeal of these areas ensures a steady stream of visitors, boosting rental income.
Local insiders know that the charm of these regions extends beyond the slopes. Summer festivals, mountain biking, and scenic trails attract a diverse crowd, ensuring that properties remain occupied. This diversity in activities is a key factor in the rising demand for properties.
Investing in a dual-season property means tapping into a market that thrives on both winter and summer tourism. The consistent flow of tourists guarantees that your property won't sit empty, maximizing your rental yields.
Sources: Knight Frank Alpine Property Report 2025, Alpine Property Report 2025, Hostaway Blog
7) Property prices in the French Alps will rise moderately as demand exceeds supply
Property prices in the French Alps are climbing steadily, and this trend shows no signs of slowing down.
In the Southern Alps, prices have jumped by 6%, while the Northern Alps have seen a more dramatic rise of 20% over the past three years. This surge is largely due to the booming tourism industry, which is transforming the region into a year-round destination. Areas like Portes du Soleil are buzzing with activity, and the upcoming Winter Games in 2030 are only adding to the excitement.
These events are not just about sports; they’re about improving infrastructure and making the Alps more accessible. This means better roads, more flights, and a general boost in the region's appeal. As a result, more people are eyeing the Alps as a place to invest in property.
However, there’s a catch. The availability of land for new developments is limited, and strict government regulations are in place to protect the stunning natural landscapes. This means that new properties are scarce, especially in prime locations, which is driving up the prices of existing homes.
Adding to the demand, the French Alps are a magnet for international buyers. People from all over the world are drawn to the region, not just for its beauty but also for its investment potential. This international interest is another factor pushing property prices higher.
Sources: Esales International, Euronews, SnowOnly, Collection Chalet
8) Rents in popular ski resorts will increase as demand for winter accommodations grows
Rents in popular ski resorts are expected to rise as demand for winter accommodations continues to grow. In the past, specifically in 2023 and 2024, we saw a significant increase in tourist numbers in the French Alps, with overnight stays reaching 18.3 million in winter 2024. This trend indicates a growing interest in winter sports and vacations in these regions.
Additionally, the occupancy rates in ski resort accommodations have been high, especially during peak periods like the winter vacation and January break. This high demand for accommodations is a clear sign that more people are choosing to spend their winter holidays in ski resorts, which naturally drives up rental prices.
Moreover, property prices in the Northern and Southern Alps have seen substantial increases, with the Northern Alps experiencing a 20% rise over three years. This increase in property prices often translates to higher rental costs, as property owners seek to maximize their returns on investment.
Sources: Statista, Collection Chalet
We have made this infographic to give you a quick and clear snapshot of the property market in France. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
9) Rental prices in lesser-known alpine areas will rise as tourists seek unique experiences
Rental prices in lesser-known alpine areas are climbing as these spots become tourist favorites for unique experiences.
Take Saint Martin de Belleville, for example. It's gaining traction, with property prices now between €9,000 and €11,000 per square meter. This signals a surge in rental demand. Over in La Plagne-Tarentaise, there's a buzz too, especially for properties priced between 100,000 and 350,000 euros, attracting wealthier visitors and pushing rental prices up.
Tourist numbers are booming. The Savoie-Mont Blanc region saw 67.2 million overnight stays, mostly in winter. But summer's catching up fast, with Chamonix reporting a 46% jump in summer lift passes over two years. This year-round interest is driving up demand for Alpine properties, as travelers now seek unique experiences beyond just skiing.
Social media is a game-changer here. Lesser-known alpine spots like Saint Martin de Belleville are getting a lot of attention online. Media coverage is also painting these areas as the next big thing. In La Plagne, new hotels and lift systems are popping up, making the area even more attractive and ready for more tourists.
Sources: Collection Chalet, Knight Frank Alpine Property Report, French Estate Agents
10) Stricter short-term rental rules will affect investment property profits in some alpine areas
Stricter short-term rental regulations are coming to alpine areas like Chamonix.
Starting in May 2025, property owners in Chamonix and Les Houches will be limited to renting out just one property on a short-term basis. Meanwhile, Servoz allows two properties, and Vallorcine has a unique rule of one rental per year per property. These changes are expected to shake up the rental market.
Many small-scale hosts might find these new rules too restrictive and could exit the market. This would lead to a decline in short-term rental listings, which means fewer options for tourists and potentially lower occupancy rates. For investors, this could directly hit the profitability of their properties.
On top of that, the government is cutting back on tax breaks for short-term rentals. The tax allowance for furnished tourist accommodations is dropping from 71% to 50%. This change will likely decrease rental income for property owners, making it less attractive to rent out properties.
Property owners will also face increased compliance costs due to these regulations. The combination of reduced income and higher costs might deter some from continuing to rent out their properties, further impacting the market.
These regulations are part of a broader effort to manage the impact of short-term rentals on local communities, but they could significantly affect the investment landscape in these picturesque alpine areas.
Sources: Short Term Rentalz, Rental Scale-Up, Short Term Rentalz
11) New environmental rules will boost sustainable property development in the French Alps
In recent years, new environmental regulations have played a significant role in encouraging the development of sustainable properties in the French Alps. One of the key drivers has been the increased government incentives for eco-friendly construction. For instance, the French government introduced grants like MaPrimeRénov, which provide financial assistance for energy-efficient renovations. These incentives make it more financially viable for homeowners and landlords to invest in sustainable building practices.
Additionally, the introduction of stricter energy efficiency standards for new buildings has been a major factor. The Grenelle Law 2, which aimed to reduce energy consumption in buildings, led to the development of the RE2020 regulation. This regulation further reduced the energy intensity of new constructions, pushing developers towards more sustainable building methods. The inclusion of sustainability criteria in property valuation assessments also encourages this trend, as it recognizes the long-term value of eco-friendly properties.
Moreover, the rising demand for properties with low environmental impact has been evident. As consumers become more environmentally conscious, they seek out properties that align with their values. This demand is likely to be reflected in the French Alps, where the natural environment is a significant draw for residents and tourists alike. The heightened media focus on climate change impacts in mountainous regions has also increased awareness and demand for sustainable properties.
Sources: French-Property.com - Home Energy Efficiency in France, European Union - Sustainable Building Passport, Makersite GmbH - New Climate and Resilience Law in France
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12) UK and German buyers will increasingly enter the French Alps market as travel restrictions ease
Foreign buyers, especially from the UK and Germany, are showing a growing interest in the French Alps market. This trend has been evident since 2023, with real estate agencies reporting a surge in inquiries and property searches from these countries. The share of purchases made by non-resident foreigners in regions like Alpes-Maritimes has been steadily increasing over the past five years.
In 2023, the French Alps saw a significant rise in property sales to foreign buyers, particularly from the UK and Germany. For example, over 8% of property sales in the rural department of Creuse were made by non-resident foreign buyers. This increase is likely due to the attractive property prices and the beautiful countryside that the French Alps offer.
Additionally, the easing of travel restrictions has led to a notable increase in flight bookings to France. A Spring 2024 Travel Trends Report by Scott Dunn highlighted a 50% rise in bookings to France compared to 2023, indicating a renewed interest in the region. This surge in travel is complemented by favorable changes in French law, such as allowing non-visa stays of up to six months for British second-home owners, which further stabilizes the market.
Sources: Long Term Rentals in France, Benoit Properties, European Property, Scott Dunn
13) Asian investors will explore opportunities in the French Alps to diversify their real estate portfolios
Asian investors are eyeing the French Alps for their next real estate ventures.
With a surge in disposable income in countries like China, more investors are looking beyond their borders for opportunities. The French Alps, with their stunning landscapes and rich culture, are becoming a top choice.
Asian investment funds are on a mission to diversify, targeting luxury properties in European ski resorts. The French Alps stand out due to favorable exchange rates and the promise of rental income.
Investors are drawn to the potential for property value appreciation, making the French Alps a strategic addition to their portfolios. This region offers a unique blend of natural beauty and cultural allure.
Sources: Savills, National Bureau of Statistics of China, Beauchamp Estates
14) Traditional ski resort yields will face pressure from rising competition with newer destinations
Property prices in the French Alps are climbing, especially in the luxury segment.
This surge in prices signals a strong demand for high-end properties, but it also means that new buyers might find it tough to enter the market. As a result, rental yields could take a hit, making these traditional ski resorts less appealing to investors.
While rental yields have been stable, the continuous rise in property prices suggests that net rental yields might shrink. This scenario could push investors to look elsewhere, particularly towards emerging ski destinations.
Newer ski spots, especially in Eastern Europe, are catching the eye of developers and investors. These areas are seeing increased development and investment, which might draw some of the demand away from the established resorts.
There's a noticeable trend of tourists flocking to lesser-known ski areas. This shift is largely due to a growing curiosity among winter sports fans to discover new places, coupled with aggressive marketing by these newer destinations.
These emerging ski spots are investing heavily to attract visitors, which could mean that traditional ski resorts will face pressure as competition heats up.
Sources: Domosno, Euronews, Skiing Property, iSKINY
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.
15) Property prices in high-altitude resorts will stabilize as climate change affects snowfall reliability
Snowfall levels in high-altitude resorts have noticeably decreased, leading to shorter ski seasons.
In the past few years, this trend has become a major concern for tourists and property investors. Climate change is largely to blame, as it has altered weather patterns in the Alps, making snow conditions less reliable.
To tackle these changes, many resorts have turned to snowmaking technology. By 2020, nearly half of the French Alps' facilities had adopted this technology to ensure consistent snow coverage. This move is crucial for keeping property prices stable, as it helps mitigate the risks of unpredictable snowfall.
Real estate market analyses reveal a slowdown in property price growth in high-altitude areas. Climate concerns are making potential buyers cautious about investing in regions with uncertain snow conditions.
Sources: Collection Chalet, Emory University, Skiing Property
16) Demand for larger homes with outdoor spaces will rise as more families move to the French Alps
The growing number of families relocating to the French Alps is driving demand for larger homes with outdoor spaces. One key indicator of this trend is the increased enrollment in international schools in the region. For example, SEK International School Les Alpes has seen a rise in student numbers, reflecting more families with children moving to the area. This naturally leads to a higher demand for family-friendly homes that offer ample space and outdoor areas suitable for children.
Additionally, real estate market reports from the past few years have highlighted a significant increase in property sales for larger homes. The trend of remote working has encouraged many to seek properties in scenic locations like the French Alps, where they can enjoy both tranquility and space. Families are particularly drawn to eco-friendly chalets and homes with panoramic views, which offer a serene escape and align with their lifestyle preferences.
Surveys and testimonials from families who have already made the move often emphasize the importance of outdoor spaces and larger living areas. These families are looking for homes that not only provide modern amenities but also allow them to enjoy the stunning natural beauty of the region. This preference is further supported by local government initiatives aimed at attracting families by improving infrastructure and amenities, making the French Alps an even more appealing destination.
Sources: SEK International School Les Alpes, My French House, International Schools Database
17) Property prices in parts of the French Alps may dip slightly due to overdevelopment and market saturation
In recent years, particularly in 2023 and 2024, the French Alps have experienced a surge in new property developments, especially in popular areas like Courchevel and Val d'Isère. This increase in new properties has led to a higher supply in the market, which can result in market saturation. When there are too many properties available, it can cause property prices to stabilize or even decline slightly.
Additionally, there have been reports of properties remaining unsold or taking longer to sell in these areas. This suggests that there might be more properties available than there are buyers, which is another sign of potential market saturation. When buyers become more cautious, it can lead to a decrease in demand, further impacting property prices.
Real estate market analyses have also shown a rise in property listings in the French Alps, indicating that more properties are being put up for sale. This increase in listings can be a sign that the market is reaching a saturation point, where the abundance of available properties starts to push prices down.
Sources: Collection Chalet, Rightmove
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility. Finally, please note that we are not affiliated to any of the sources provided. Our analysis remains then 100% impartial.