The real estate market remains one of the most complex subjects to decipher, sometimes offering contradictory data. In Haute-Savoie, the situation has unique characteristics, influenced by various economic and local factors. This article looks at the latest trends and outlook for the real estate market in this mountainous region.
Real estate transactions down significantly
Last year saw a total of 12,956 real estate transactions concluded in Haute-Savoie.
However, this figure represents a marked drop of 27% from the previous year.
This decrease can be attributed to several elements, the main one of which appears to be interest rates which have fluctuated in recent months. Such a decline is indicative of the challenges facing the sector.
Comparison with previous years
To put this decrease into perspective, it should be remembered that the real estate market had experienced a growth period sustained over the past five years.
So, although we observe a decrease over one year, of 2.10%, and over two years, of 1.70%, there has been an overall increase of 18.20% over a period of five years.
These figures show that despite recent fluctuations, the market is showing a notable resilience.
Impact of credit rates
Another important element to consider is the effect of reductions in credit rates. Recently, these appear to have stimulated a slight recovery in property prices.
At the end of September, sales documents indicated an average price increase of +0.50%.
This suggests that even in a crisis context, certain economic drivers allow the market to maintain itself.
Real estate prices in Haute-Savoie by city
The diversity of the communes of Haute-Savoie generates a significant disparity in the real estate prices.
On average, the price per square meter is €4,475. However, there are notable variations between different cities.
- Annecy : The average price is €5,598 per square meter.
- Thonon-les-Bains: It takes around €3,778 per square meter.
- Annemasse: The average price reaches €3,710 per square meter.
- Sallanches: For this municipality, the square meter costs around €3,502.
- Rumilly: Here, the price is €3,211 per square meter.
- Saint-Julien-en-Genevois: The price reaches €4,571 per square meter.
- Évian-les-Bains: A square meter costs on average €4,233.
Analysis of price differences
These price differences can be explained by various factors. Annecy, for example, is hugely attractive thanks to its idyllic setting and developed infrastructure, thus justifying high prices.
Conversely, towns like Rumilly offer more affordable costs, but with fewer amenities and immediate tourist attractions.
Energy performance of housing
The energy performance has become an essential criterion for buyers and tenants.
In Haute-Savoie, around 9% of housing is classified G, which means that they are very energy-intensive. In addition, 11% of homes are classified F.
Consequences for the rental market
These classifications have direct implications on the rental market.
With increasingly strict regulations regarding energy performance, many homeowners may be forced to carry out renovation work to comply with modern energy standards.
If these renovations are not carried out, there could be an attrition of rental supply, already limited in this attractive region.
Evolution of rents
The cost of rents in Haute-Savoie also follows an upward trend. The average rent per square meter increased by +3.60% over one year, reaching €14.71.
This increase reflects not only the increased demand for housing, but also the efforts of owners to make their investments profitable in popular regions.
Tensions on the rental market
The Haute-Savoie rental market is tense, particularly in tourist areas and large cities where demand far exceeds supply.
This situation pushes rents up and makes it difficult for many households to find housing, thus adding additional pressure to the overall real estate market.
Future challenges and prospects
In summary, although the real estate market in Haute-Savoie is going through a phase of upheaval, it is also showing signs of resilience in the face of current economic challenges.
The diversity of prices between cities offers varied opportunities for different types of buyers and investors.
However, concerns related to energy performance and rental attractiveness remain major issues which will influence future market dynamics.
