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.

FRENCH SKI RESORTS: THE PREMIERSHIP (REVISITED)

28 July 2013: for a 2013/14 update click here.

Here's an update on the 2011/12 French Ski Resorts: The Premiership league table.  The sad and geeky question is: if your favourite resort were a top-tier football team, which would it be?

The big headache for me is Manchester City.  Last time it was twinned with Tignes:

Man City = Tignes

Lots of investment; lifts now arguably superior to those of its neighbour across the mountain.  Clearly on the up.  Still lacks that je ne sais quoi.

In many ways this description still stands.  But...it's just that Tignes, like the Man City of old, has character, even though it may look a bit shabby around the edges.  It's where the real skiers go, rather than those show-offs over in Val d'Isere.  Etc.  But now that Man City can have whatever they want, whenever they want, the comparison feels slightly less appropriate.  I'm going to give them the benefit of the doubt, but if it carries on like this, they will be twinned with Gstaad.....

Wolves (2 Alpes), Blackburn (Avoriaz) and Bolton (Valmorel) were all relegated. I think each of these resorts still deserve their place, so they have been replaced with Southampton, West Ham and  Reading.

Kassam Stadium, Oxford.
Set to join the Premier League in 2015/16,
once all the necessary pieces are in place....

Man City = Tignes

Lots of investment; lifts now arguably superior to those of its neighbour across the mountain.  Clearly on the up.  Losing its character?

Man Utd = Val d’Isere
A classic resort; famous around the world, consistently performs at a high level.  Popular with rich people from The South.

Arsenal = Meribel

Strong Anglo-French links, not as good as thinks it is but is still very good indeed.  Will never go out of fashion.

Tottenham = Les Arcs

Has had its ups and downs over the years, but a steady transformation over last decade - with slow lifts/players now largely a thing of the past.  By no means perfect, but can mix with big league.

Newcastle = Val Thorens

Big stadium, with great atmosphere and famous nightlife.   Improving in recent years, and can give the others a run for their money 7 days out of 10.  When the sun shines it’s great, but on a cold day...

Chelsea = Courchevel

Money talks; the domain of well-heeled Russians.  Oddly characterless.  Less affluent folk are scattered in distant suburbs away from the centre.

Everton = La Plagne

Was one of the "Big Five" in the 1980s, but no longer.  Shrewd management has papered over the cracks (slow lifts, short runs).  Had a good season last year.

Liverpool = Chamonix.

Fancies itself as the home of mountaineering.  Which in a way it is.  Has a tradition, character, real sense of place that everyone respects - fans all want to visit at least once...

Fulham = Megeve

Location and proximity to nice restaurants is just as important as the skiing.

West Brom = La Clusaz

Quietly goes about its business with little attention from abroad.  Unlikely to rise any further.

Swansea = Isola 2000

Somewhat remote geographically from rest of the league.  Was briefly in the top flight during the 1980s.  Surprisingly good when you see it in action.

Norwich = Serre Chevalier

Bit of a yo-yo resort between Prem and Championship.  Another remote location.  But has strong support, good foundations and real character.  And the food...

Sunderland = Alpe d'Huez

Great stadium, all the way to 3,300m; a World Cup venue.  It’s south-facing, though and therefore can lose interest towards the end of the season.

Stoke City = Les Sybelles

Has no discernible centre; a modest kind of a place.  Has made its mark on the Premiership without anyone really noticing how far they've come.  Top lifts often shut due to wind.

Wigan Ath = Areches/Beaufort

Few people go there, but those who do enjoy the welcome (and the cheese pies).

Aston Villa = Flaine

Has lots of support; good all-rounder and the infrastructure to mix it with the big league.  Could pack more of a punch if they ever get their act together.

QPR = Les Gets

Not the biggest but there's money there.  Struggles to last a full season, but in 2011/12 stayed open (just about) well into the Spring.

Reading = Valmorel

Not a "natural" in terms of the Premiership, but steady investment in recent years and new Russian investments means they could well hold their own.

Southampton = Les 2 Alpes

The Beautiful South.  Lots going for it, but lacks strength in depth (narrow ski area).

West Ham Utd = Avoriaz

Both really should be in the Premiership given their location, fan base, history etc.  They both lack consistency, but let's see....

AND MORE IMPORTANTLY….

Oxford United = Chamrousse

On the Grenoble Road, big university town boasting great ski area.  Was briefly in the top flight; Jean-Claude Killy once skied there.  Has strong following from the locals - on one rainy day in 2010, their numbers reached 33,000....

Barnet = Ste Foy

Where the ski instructors (aka Arsenal and Spurs fans) go on their day off.  Only a few lifts but packs in lots of action.  Noteworthy gradients.  Local authority resisting its bid to expand.

THE BUSINESS OF SKIING: The Season So Far

It's true that many of the ski instructors we see are actually farmers, plumbers, shopkeepers etc in the local villages.  The second part of this video gives you a "day in the life" of Les Arcs.  But, aside from the small resorts with a drag lift or two, the lift systems need investment, and therefore are serious business propositions.

The bulk of the French Premier League resorts are owned by the Compagnie des Alpes: La Rosiere, Les Menuires, Meribel, Chamonix, Avoriaz, Les 2 Alpes, Valmorel, Val d'Isere, Tignes, Serre Chevalier, La Plagne, Les Arcs....

Arc 2000

They are also into theme parks: the portfolio includes four "Parcs Walibis" (whatever they are), Parc Asterix and (scene of various Tour de France stages), Futuroscope.

The story of the season so far, announced in CdA's latest results, is a bit mixed, really:

• Late snowfall which meant everyone was on edge until the second week into December
• Having Xmas Day and New Year's Day on a Sunday
• The heavy snowfalls in the first week of Jan (see below, en direct from Bourg St Maurice...)

The result: skier numbers are down 1% on last year.  The CdA pronounces itself "satisfied", at least for the moment.  If this is how well the big reports are doing in these uncertain times, one wonders how the smaller ones are faring.  Certainly the news from small resorts in the Pyrenees hasn't been great.  The Crystal Ski Report 2011 reported a 5% fall last year in the number of Brit skiers, on top of 13% and 11% falls in previous years, but claimed the market was "set to rebound".   It will be interesting to see if the record snowfalls do prompt some "floating skiers" to go, or indeed whether it's the economy, rather than the snow, which plays the upper hand.  We'll see.

On the other hand, all is good for the theme parks: revenues up 13%, and lots of plans for the future.  Onwards and upwards!

FRENCH SKI RESORT LEAGUE TABLES (1): "Le Grand Ski"

A couple of seasons ago, Alpes magazine ran a special issue called "La Palmares des Stations".   This ranked the different resorts under a series of categories.

The first is "Le Grand Ski" - ie an Ofsted-style league table aimed at those for whom the skiing is everything.

The magazine devised a complex scoring system which included:

- Height of top lift
- Vertical descent
- Range of pistes (see below)
- No of pistes
- Access to big ski area
- Events, competitions, etc
- Price of lift pass
- Price of accommodation

Perhaps the most interesting stat is the one on range of pistes.  They calculated the % of reds and blacks as a % of all pistes.  The higher the %, the greater the score - I've set this in brackets below.

Anyway, the winner is.....Alpe d'Huez, which got maximum scores on both height of top lift, vertical drop and number of pistes, as well as on price of accommodation (Serre Chevalier, Le Corbier, Chamrousse and Villard-de-Lans all did well here, too.  Courchevel, and indeed the Trois Vallees generally, did not.

Here is the full ranking (% red/black pistes):

1.  Alpe d'Huez (44)
2.  Les Arcs (48)
3.  La Plagne (33)
4.  Val Thorens (52)
5.  Vars (45)
6.  Chamonix (49)
7.  Serre-Che (50)
8.  Val d'Isere (44)*
9.  Tignes (47)
10. Les Menuires (51)
11. Meribel (43)
12. La Clusaz (37)
13. Chamrousse (48)
14. Avoriaz (43)
15. Courchevel (36)
16. Montgenevre (58)
17. Le Corbier (25)
18. Allos 1800 (51)
19. Villard-de-Lans (51)
20. Chatel (45)
21. Isola 2000 (26)

* Clearly, this assumes that all piste gradings are the same, which of course they aren't - cf the savage "blue runs" around Val d'Isere....