French and Portes du Soleil Property Market Trends in 2024

National Trends in Property Prices

Between 2022 and 2023, property prices in France experienced a significant decline, particularly in the Paris region, major cities such as Lyon and Bordeaux, as well as along the French Riviera. Despite this adjustment, mountain real estate markets have remained more resilient and less affected than the national average.

Before this correction, from 2008 to 2021, the accommodative monetary policy of the European Central Bank led to substantial money creation and significant inflation in France and across Europe. The real estate sector contributed to this inflation: a persistent imbalance between supply and demand supported price growth for more than thirteen years, as housing supply struggled to keep pace with increasing demand.

National Sales Trends

The volume of property transactions has slightly decreased since 2021, from around 1.4 million to 1.3 million sales at the beginning of 2024. These figures remain higher than pre-pandemic levels. Following the post-COVID boom, the market peaked at nearly 1.7 million transactions in May 2022 before gradually stabilizing.

This trend has affected the entire French market, including mountain resorts such as Les Gets, Morzine, and Montriond, all located within the Portes du Soleil area.

Source: data.gouv.fr

Focus on the Rental Market

At the national level, the rental housing market has been affected by a decline in available properties. However, seasonal rentals in Les Portes du Soleil remain strong. Properties for rent in Les Gets and other key ski resorts in the area continue to attract a loyal clientele, particularly during the winter season.

During the 2023 winter season, the village of Les Gets recorded 877,214 overnight stays, with nearly 69% of international visitors, mainly from the United Kingdom, the Netherlands, and Switzerland.

Discover our rental listings: click here

Mortgage Rate Trends Over the Past 10 Years

Interest rates began to rise sharply in 2022, driven by inflation, geopolitical tensions, and tighter monetary policies. Since the beginning of 2024, a gradual decline has been observed, with projections suggesting rates will stabilize between 3% and 3.5% by summer.

Although rates are now perceived as high by some households, they remain historically low compared to the past two decades. This trend offers promising opportunities for both investors and buyers.

BARNES Portes du Soleil is here to guide you through your real estate projects in Les Gets and across the entire Portes du Soleil area.

Discover our properties for sale: click here