Haute-Savoie Property Insight

The Haute Savoie department is south-east located, at the crossroads of France, Italy and Switzerland. It is one of the eight departments of the Rhone-Alpes region. The area accounts for more than 708,000 inhabitants, called the Hauts-Savoyards, living in 294 towns and villages. Haute Savoie’s administrative centre is Annecy, the sous-prefectures being Bonneville, Saint-Julien-en-Genevois and Thonon-les-Bains. Haute Savoie is renowned for its ski resorts, the Mont-Blanc, its two beautiful lakes, the Leman Lake (more known in English as the Geneva Lake), the biggest in Europe, and the Annecy Lake, the cleanest in Europe, as for its mineral water Evian).

Indeed, the Haute Savoie department is mostly renowned for its natural emblematic sites. Thanks to the assets of the area, Haute Savoie, unlike other mountainous departments, attracts as much tourists is summer as in winter: out of 37,9 million of tourists every year, 49% visit the area in winter, 40% in summer, and 13% during the rest of the year.

Overview

The creation of the Haute Savoie department is relatively recent. Indeed, it was only in 1860 that the department was created from the north part of the former Savoy province. Before this date, and since the 11th century, it belonged and was governed by the Maison de Savoie, an independant state. The Savoy House expanded towards Italy, and finally became, with the Kingdom of Sardinia, the preponderant element of the Italian unit. The Duchy of Savoy and the County of Nice were annexed to France with the Treaty of Turin, leading to the creation of the present-day Haute Savoie department.

Haute Savoie is a very dynamic department where the unemployment rate is lower than the French average (5.4% vs. 8%). Economic activities are mainly based on tourism, as more than 10% of the salaried jobs in the department are directly linked to tourism. Moreover, many activities, such as agriculture, construction, businesses, craft industries, etc. also rely on tourism. This is why the department makes a lot of efforts in order to attract visitors all year long.

Being a mountainous region as much in summer as in winter, Haute Savoie welcomes French and foreigner customers all year round, seduced by the beauty of the scenery, the quality of accommodation, and all the sport activities it has on offer. Indeed, the department boasts 50 ski resorts, 47 beaches, 3 thermal baths, 12 golf courses, and 21 marinas.

Haute Savoie Immobilier & Property Market Trends

Haute Savoie is a very sought-after department that attracts French and foreigners. The adequacy between offer and demand has led to a rise in house prices. Moreover, the analysis of the construction index between 1999 and 2007 has emphasized three effects. The first one is the presence of an axis: constructions are concentrated on the axis Chambéry / Annecy / La Roche sur Foron / Annemasse / Saint Julien. The second one is the presence of attractive suburbs around Annecy. And the third one is territorial dynamics linked to the towns. Furthermore it is clear that the west of the department attracts more people than the east, as the index construction is higher.

It is interesting to notice that foreigners’ share is significant; it represents more than 25% in touristic areas. If you fancy buying a property you can plan to invest €3,611 /sq m, which is higher than the French average (€3,197 /sq m). However, investing in Haute Savoie could be a good transaction for a buy-to-let, as rental prices in the department are among the highest in France. According to the Conseil Général, the Haute Savoie department is just behind Paris-Ile de France and Côte d’Azur, while being at the same level as Haute-Garonne, Ille-et-Vilaine, Gironde and Hérault. It is moreover the most expensive department in the Rhone Alpes region. It is besides interesting to notice that prices are almost equal in the whole department.

To get updated info about property prices in Haute Savoie, please browse our French Property Market Reports published in the News Section every month.

5 Reasons to Buy a Property in Haute Savoie

• Culture, art and historical heritage: Haute Savoie’s history has been influenced by the Savoy Dynasty. You will find baroque churches, chapels and castles, art towns, medieval villages and 'old towns' all around the department. During the whole year you can assist to folk events, musical events, shows, festivals, art and cultural exhibitions.

• Outdoor activities: the Haute Savoie department is specially renowned for its outdoor activities. It offers 50 ski resorts, among the most prestigious in France: Chamonix, Megève, Morzine, La Clusaz, Saint-Gervais, and among the most modern: Flaine and Avoriaz. It also offers 41 cross country skiing areas. In summer you will enjoy mountaineering, hiking, biking, horsing within breathtaking landscapes. With two lakes that are among the most famous in Europe you will be able to do water sports; but also to relax yourself in one of the three renowned thermal baths present in the department: Evian-les-Bains, Saint-Gervais-les-Bains and Thonon-les-Bains.

• Location - transport: at the crossroads of France, Italy and Switzerland, the Haute Savoie department is definitely the place to go skiing! From England you can easily and cheaply go to Geneva, which is at the border of the Haute Savoie department. There are also airports in the department: a national one in Annecy-Meythet and smaller ones in Annemasse and Megeve. If you fancy taking the car you can go to the department by taking the A40 and A41 motorways. Otherwise you can also take the train, as there are two main train stations: Annecy and Annemasse, and 8 smaller ones, as Thonon-les-Bains for instance.

• Tranquillity and scenery: the Haute Savoie department is the perfect place if you want to combine mountain activities with tranquillity. Some places, as Chamonix, get very busy as much in summer as in winter; however you can also find alternative towns, close by the ski resorts and with fewer visitors. It is for instance the case of Thonon-les-Bains, near the Geneva Lake and Chatel, that is only 30kms from the nearest ski resorts. Moreover, Haute Savoie’s towns are famous for being beautiful, with plenty of green parks and flowers in outstanding settings. You will enjoy walking along the Geneva lakeside looking at the gorgeous Alps.

• Gastronomy: the Alps’ gastronomy is renowned for its cheese and potatoes dishes, such as the Tartiflette, the Raclette, or the various Fondues. However, the food heritage in Haute Savoie is more abundant than that. Many produces in the department have special labels and AOC (a French certification granted to certain agricultural products). Among the cheeses, you will find Abondance, Reblochon, tomme de Savoie, tomme des Bauges, Sérac, etc.; you will also find special labels for meat produce, mermelades and honey, fruits, alcohols...

Local Property Market: 6 Popular Towns

• Annecy property: Annecy is a charming town, located at the foot of the Alps mountain range. It is renowned for its beautiful lake, called the Annecy Lake, which is said to be the cleanest in Europe. The city has been chosen to represent France for the Winter Olympic Games in 2018.
• Chamonix-Mont-Blanc property: this 245 sq m village is the fourth vastest in France. No wonder when you know that the worldwide Mont-Blanc is part of the Chamonix commune. It is admittedly the most expensive town in the whole department; however the breathtaking view over the Mont-Blanc is really worth it. Moreover it is an excellent buy-to-let investment!
• Chatel property: this small village will seduce you as much in winter as in summer. Situated in the middle of the Franco-Swiss Portes du Soleil ski area, one of the vastest in Europe, it is a perfect location to fullty enjoy nature and mountains. You will also be charmed by the traditional atmosphere that has been preserved along the years.
• Evian-les-Bains property: worldwide renowned for its mineral water, that has the same name: Evian, this charming town bordered by the Geneva Lake offers beautiful sceneries of the mountains reflecting into the lake. You will also be able to relax yourself in the famous thermal baths that are said to cure some kidney illnesses.
• Le Grand Bornand property: Le Grand Bornand boasts a truly one of a kind atmosphere. Gathering both an ancient village and a ski resort, it is however not crowded by tourists. This is the perfect location for those in search of tranquillity at the very heart of nature. Typical haut-savoyard lifestyle guaranteed.
• Thonon-les-Bains property: this town is also located beside the Geneva Lake, and has basically the same assets as Evian. Thonon is also a paradise for water sport lovers. In the low part of the town you will find a traditional fishing harbour, while the centre of the town is located in the highest part.

Property Styles and Architecture in Haute Savoie

The main type of dwellings in Haute Savoie is chalets. Each valley has a specific one, with different materials, and answering to different needs. You will find below the two main types of chalets.

• Grand Bornand Chalets: the particularity of the chalets in this area is probably their roof. It is a wood roof, as it can be seen in other chalets, however, in Grand Bornand since 1994 it has been made compulsory by the council for new constructions. As in other valleys in Haute Savoie, chalets are oriented towards slope direction. In most of them, we can see on the side the cladding formerly used to air the hay.

• Val d’Abondance Chalets: they are the most voluminous ones within the whole Haute Savoie department. They are three-storey high, and have a huge roof that covers the whole building. They usually have the same characteristics as other chalets, as they had the same use. Nowadays, the problem with this kind of chalets is the size, as they are far too big for a single family. This is why most of the time the wood roof is reemplaced by a metallic one, less expensive to maintain.

• Apartments: 50% of the accommodation in Haute Savoie are apartments. There is a wide range on offer: from the small apartments at the heart of the ski resort to the luxury ones in Chamonix, or the ones with an amazing view over the Geneva or Annecy Lake. As towns in Haute Savoie are not huge, apartements usually come with facilities; private parking notably. Most of them are located in quiet residences, and have a balcony or a terrace with view over the mountains. They represent good investments for a buy-to-let, however they are comfortable enough to be a second home.

Click here for more info about the Architecture in Rhone Alpes.