LOCATION, LOCATION, LOCATION: Property Prices in the Alps

Although the season has started well, the ski industry has most certainly not been immune from the financial crisis.  Last year was just about OK for France and Austria, with Switzerland faring badly - more here.

This week Les Echos published a survey of the latest property market trends across the northern French Alps.

Bargain basement? Arc 1800

The headlines include:

• A slowdown in sales.  Prices aren't tumbling, but buyers should be able to negotiate.  Recent tax changes haven't helped
• The resorts in good locations with the right accommodation are doing OK
• Big differences, even within a relatively small area.  The price per m2, for example ranges from 1,911€ in an Arc 2000 studio, to €13.108 in a larger pad up the road in Val d'Isere
• The old 1970s flats are not in vogue - indeed there is a movement among some proprietères to join two apartments together to form one larger, more attractive space. "Those with the money are looking for big apartments or chalets for 10-20 people", says M. Le Notaire.  He also notes that prices in Morzine, Avoriaz and Les Gets have been rising, although they remain cheaper than the 3 Vallées and Chamonix 
• The other tip is to invest in areas close to the ski areas - for example in the attractive villages of St-Jean-de-Sixt or Manigod rather than Le Grand Bornand or La Clusaz
• Year-on-year prices are quoted (see below), but don't seem to tally with the overall story, and look on the volatile side.  For example, why would prices be rising in Morzine and falling in Les Gets?

The league table (in € per m2) is as follows (% change in the year to 31 Aug 2012 in brackets):

• Courchevel 1850: 11,170 (-5)
• Val d'Isère village: 7,357 (+2)
• Méribel village: 8,327 (n/a)
• Megeve: 7,262 (+9)
• Méribel Mottaret: 6,667 (+10)
• La Clusaz: 5,333 (+3)
• Courchevel 1650: 5,293 (n/a)
• Chamonix: 5,049 (+1)
• Les Gets: 4,816 (-7)
• Morzine: 4,711 (+13)
• Tignes Val Claret: 4,447 (+2)
• Avoriaz: 4,356 (-1)
• Tignes Le Lac: 4,333 (-7)
• Le Grand Bornand: 4,249 (-5)
• Valloire: 4,028 (no change)
• Arc 1800: 3,333 (+13)
• La Plagne: 3,280 (-7)
• Arc 1600: 3.169 (+9)
• Arc 2000: 2,046 (-13)

For a good guide to what's out there, follow @FrenchSkiHomes: website here.