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Boan

The real estate market in Megeve

The real estate market in Megève in 2018

(Extraits from our magazine “Secrets d’Alpage”)

Unlike previous years, the 2018 winter season boasted excellent snow conditions. This, combined with clearly known tax measures, although not particularly favourable to real estate, helped to create a more favourable climate for the market.Demand was high all winter and into early spring. As a result, the volume of sales grew.

BOAN MAGAZINE MEGEVE-2019-fr

After a quieter period, from May to July, business was stable from mid August through until the end of the year.

Plus, it is important to emphasize that compliance of the Local Planning Regulations (PLU) in regards to legal measures (Loi Alur, Loi Grenelle and Grenelle 2 on the environment) resulted in a rise in interest in the real estate market by professional investors who acquired land and existing buildings to carry out real estate projects.

Zoom in…

CHANGING CLIENTELE

There is a strong growth in the number of foreign clients, especially with regard to Swiss residents who have accounted for about 25% of sales, compared with 20% the previous year. The number of British buyers also grew from 5 to 15%. Despite this, the faithful French customer remains the most important, totaling approximately 50 % of all transactions

 

Key figures

NUMBER OF TRANSACTIONS

300 transactions were completed in Megève in 2018, an increase on the previous year of nearly 20%.

EXCEPTIONAL PROPERTIES

20 or so transactions, each worth more than 3 M€, were recorded in 2018, including 3 plots of land and several buildings requiring rehabilitation (hotels & residences).

11 transactions between € 3 000 000 and € 5 000 000,

12 transactions between € 5 000 000 and € 10 000 000,

2 transactions in excess of € 10 000 000 were also completed.

AVERAGE SELLING PRICE

€ 7 900 per sqm for an apartment.

€ 9 400 per sqm for a chalet.