Real estate market in Courchevel
A quest for excellence at all levels
A winter sports resort founded seventy years ago by a twofold desire to open the mountain to young people and to democratize the practice of physical activities. Dreamed up as an ideal village, Courchevel is now the object of all fantasies. Alpine village of a new kind, pioneer and innovative, Courchevel has become over the decades a prestigious place: the destination of all superlatives where the quest for excellence is omnipresent. This stature sometimes makes one forget the treasures of a resort made up of five villages, situated at five different altitudes, proposing complementary experiences conceived to satisfy a diversified clientele.
THE ESSENTIAL OF THE MARKET
The Courchevel market is in good shape for the year 2016. Off-the-beat ski area, accompanied by luxurious services and guaranteed snow make Courchevel one of the most expensive and popular ski resorts. Associated with luxury and prestige, Courchevel invests continuously to modernize while preserving its Savoyard charm. Opened in December 2015, the Aquamotion, dressed in glass and wood, has come to rest in the natural setting of the 3 Valleys to offer activities for the whole family: children and adults, for relaxation, fun or water sports open in winter and summer. This true technological and architectural space has come to energize Courchevel 1550 which is evolving quickly.
We are seeing new investors, Russian, Arab, British, and French, new luxurious constructions, and therefore new tenants. Indeed, today's buyers observe an important price difference between 1850, and the other levels of the resort. For 2 years, the 1550 and 1650 levels are being developed and becoming dynamic resorts particularly appreciated by French buyers.
Cimalpes agencies in Courchevel Village (1550) and Courchevel Moriond (1650) offer a wide choice of properties ranging from the studio of 12 m² to the high-end chalet of more than 300 m². The type of clientele is different, starting with the actors of the resort themselves, customers looking for a family friendly holiday, investors who are now aware of the potential of the market and the "big fortunes" in search of high-end chalets that remain very secure investments. Despite a rise in prices and a blocked Local Urbanism Plan, acquisitions are still possible for buyers who cannot afford the "upper floor", particularly in Courchevel 1550 and 1650.
From its 1850 meters, Courchevel 1850 attracts an international clientele in search of luxury. On the heights of the resort are the most beautiful properties, wooden frame, stone and lauze of more than 2000 sqm. Purchasers are ready to buy if the price is good to see very good and are willing to buy new homes thanks to stable or even decreasing prices per square meter, new environmental standards that reduce loads, Recovery of VAT, and reduced notary fees. Thus, the prices of older homes will be impacted and will not overestimate the properties.
Today, sales of Cimalpes Courchevel 1550 and 1650 are mainly focused on new goods that best meet customer demand. The price difference between a new and a less recent dwelling is about 20% in favor of the new one due to its demand and its rarity. For the exclusive clientele, acquiring a ski property is an ordinary "Lifestyle" approach but it is increasingly motivated by the return on investment.
In Courchevel 1850, market demand is stable with a certain wait-and-see attitude among purchasers. This phenomenon can be explained by several conjunctural factors related to Brexit, economic instability and the 2017 presidential election in France. Our customers now have the possibility to rent quality goods in large quantities, which was not the case previously, which forced the acquisitions.
Philippe Mugnier, Mayor of Courchevel
What is your view on future developments in urban planning?
These evolutions are and will be carried out with the essential objective of preserving natural spaces while favoring rehabilitations. We do not want developments outside the perimeters of the current resort. At the same time, architecture is modernizing whilst respecting our traditions. The priority today is to increase the diversity of accommodation within the resort, so as to win back the French and European clientele.
What are your latest favorites and novelties in Courchevel?
My latest favorites are the celebration of the 70 years of our resort, which will be celebrated throughout this winter 2016-2017, as well as the organization of events for the owners, such as the "owners' week" and the "Alpes Homes" tradeshow. Among our main novelties, I will mention Aquamotion and the realization of a new demonstration stadium on the snow front of Courchevel, dedicated to the animation of the après-ski scene, notably by organizing parallel slaloms.
To preserve its villages on a human scale, the commune of Courchevel leaves hardly any land for private residence. Our teams will advise the purchase of old properties to renovate or destroy them to rebuild a new home that will meet the new market expectations.
Olivier Builly — President & Co-founder
“Buyers are increasingly turning to new property thanks to the VAT recovery program, new environmental standards (less expenses) and reduced notary fees.”
Grégory Flon — General Manager & Co-founder
“The markets of Courchevel Moriond (1650) and Village (1550) are evolving. We see new investors appear, new luxurious constructions and therefore new tenants. All this has contributed to the rapid development of these markets over the past 2 years.”