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The French Property Market continued

Not content with just reading the news at Alpine Angels, we wanted to make a bit of our own. We are currently investigating what are neighbours, or at least our local network of industry professionals, have experienced in 2009 / 2010 in terms of property sales. First into bat is Thomas Andrieu from Alps Property, the Chamonix property experts.
He agreed with recent reports of price reductions and felt that prices in Chamonix had reduced by nearly 10% in 2009. Only properties that managed to combine a prime location; top spec facilities; and a reasonable asking price were able to interest buyers and secure a sale.
In Chamonix people were still very much focused on buying in the most popular areas, which means it’s definitely worth savvy buyers looking to smaller resorts on the edge of the popular ski areas for bargains (In fact, Alpine Angels said just as much as few weeks ago in a blog entry just below this (race you to St Gervais? )).
2009 brought waves of both high and low level activity with the ski season proving quiet but the end of the year really picking up. In 2010, after another quiet winter Chamonix sales enquiries are once again on the increase. Since the beginning of March there has been a flurry of enquiries for 2-3 bedroom apartments between 400,000 – 700,000 and chalets between 800,000 – 1,000,000.
The only section of the market that has remained strong throughout has been enquiries for and sales of chalets in excess of 2,000,000. Well the credit crunch certainly does some strange things in the mountains!
Thomas’ prediction for the rest of 2010 is that, in line with the last 6 months of 2009, enquiries will increase. But these enquiries will continue to be for the same type of properties as above. He also thinks there may still be a small decrease in property prices as buyers are not willing to pay asking price. The other factor that will affect sales will be the strength of good old Sterling (GBP). 

Well, here at Alpine Angels we are going to be focusing our personal property searches on everything and anything that falls slightly outside of the norms above. That includes slightly varying our search areas to the borders of where we originally wanted to be, and being more flexible on space and layout. After all, anything that falls outside of ‘prime property’ in ‘prime locations’ could prove to be a brilliant bargain. 

More news to follow ….

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