After a difficult year in 2024, indicators suggest a gradual recovery. Real estate sales could indeed return to green this year in Pays de Savoie and Ain. This is what the national federation of FNAIM thinks it knows in any case.
A difficult year 2024 in real estate
The year 2024 was marked by high interest rates, sustained inflation, multiple political uncertainties, a continued decline in purchasing power and increasing difficulties in accessing the real estate market.
Example in Pays de Savoie and Ain
In the 2 Savoie and Ain for example, professionals from the National Real Estate Federation recorded volume drops of around 15% in 2024. Over 12 months in a row, between October 2023 and October By 2024, it is in Ain that the decline would be most impactful with -16.2% compared to -14.6% in Haute Savoie and -12.1% in Savoy.
The National Federation of FNAIM announces a drop of -11% in the real estate sector in France for 2024 with 774,000 transactions (LABEL figures). In three years, the cumulative drop is 36%, the largest drop in sales in more than fifty years in France. Professionals from the FNAIM Savoie Mont Blanc Chamber (which brings together real estate agents from the departments of Ain, Savoie and Haute-Savoie) recorded volume drops of around -15%, with 28,033 homes sold in 2024 (from October 2023 to October 2024) compared to 32,996 in 2023. However, the figures remain comparable to those of 2016, with 12,850 properties sold in Haute-Savoie, 8,056 in Savoie and 7,127 in Ain.
Over the twelve rolling months (October 2023 to October 2024), the decline is -14.3% in Savoie Mont Blanc, -13.7% in the AURA region and -15.2% nationally. For us, it is in Ain that the drop is most impactful with -16.2%, -14.6% in Haute-Savoie and -12.1% in Savoie.
With the strong demand for housing in the territory, particularly in the border area close to Switzerland, prices will stabilize at the end of 2024 and even show a slight decline (-0.3% in Ain, -0.9% in Savoie and -0.7% in Haute-Savoie) for houses and apartments;
Overall prices have increased significantly over the last five years. (+21.4% in Savoie, +17.5% in Haute-Savoie and +14.9% in Ain).
In the Top 20 most dynamic cities, Annecy remains at the top of the table with 1,578 sales (1,442 apartments and 137 houses) for an average price over three months per m² of €5,222.00, ahead of Chambéry with 856 sales ( 94 houses and 763 apartments) and a price per m² of €2,958.00. Next in a row are Aix-les-bains (633 sales) and €4,208.00/m² and Thonon-les-bains (626 sales) and €3,808.00/m².
As a general rule, in Savoie Mont Blanc, prices for apartments drop slightly, in Haute-Savoie with an average price of €3,805.00/m² in the Lake Geneva and French Geneva basins. €4,773.00/m² in the Annecy basin and €3,247.00/m² in the Arve valley. In Savoie, prices fell slightly to €4,076.00/m² in the Aix-les-bains area, €2,900.00/m² in Chambéry. In Ain, Bourg has a price per m² of €1,898.00 and Dombes slightly higher at €2,527.00/m².
For houses prices are falling, over twelve months the average price of a house stands at €460,505.00 in the Lake Geneva area, €533,121.00 in the Annecy basin, €408,566.00 in the Arve Valley.
-In Savoie, you have to count on an average budget of €441,441.00, €372,204.00 in Chambéry. For Ain, €215,448.00 in Bourg and €268,582.00 in Dombes.
For the rental market, the trend is upwards in Ain (Bourg €9.40/m² and Dombes €10.70/m²) while in Savoie rents remain stable (median prices between €11.9 /m² in Aix and Chambéry, and €14.4 /m² in Annecy and €13.6 /m² in Léman and Geneva (French).
In the mountains, prices are rising
Global warming and its directly measurable consequences on snow cover for two seasons have motivated investors to move to higher altitudes. Certain properties located in charming or mid-mountain resorts are put up for sale, for the benefit of those located higher up in the Grands Domaines resorts. Prices are also rising.
Val d'Isère retains its first place among the most expensive resorts at 13,680.00 € /m² for an apartment, followed by Méribel and Courchevel (12,022.00 € /m² and Méribel 10,556 € /m², followed by Megève (€10,136.00/m², Chamonix and La Clusaz under €9,000.00 €/m².
For individual chalets, market prices soar in the upscale Savoyard resorts to more than €20,000.00/m² or even “no limit” for certain exceptional properties…
DPE: G housing is leaving the rental stock
Finally, the new provisions of the DPE which apply to the entire real estate market, energy renovation stands out as the first challenge to take up for the rental market. France has 1.3 million thermal strainers. Since January 1, housing classified G can no longer be rented, i.e. 567,000 housing units in France. 5% of the housing stock in Ain, 10% in Savoie and 8% in Haute-Savoie.
