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Mountain destinations: the market of holidays houses is recovering

15 January, Yahoo Finance

According to the Tecnocasa, over the first half of 2017 prices of houses in mountain destinations fell by 0.7%, compared to the second half of 2016. Even though with limited budgets, people are buying again. Who buys is very careful that the price is aligned with the market values. There’s a reasonable attention towards new energy-efficient constructions since costs containment is important for this segment of the market. In Piedmont, prices fell by -1.5%, in Veneto and Abruzzo by -1.3%. Mountain destinations in Valle d’Aosta registered a price drop of 0.5%, while in Trentino Alto Adige they didn’t change. The demand is always focused on small-sized houses, two-room and three-room apartments, possibly close to the ski facilities and in well-served areas. The last analysis by JFC for Skipass shows that there’s a growing attention for winter holidays, especially if entertainment, wellness and upgraded facilities are included in the offer.

Valle d’Aosta: prices decreased by -0.5%

Lower Valtournenche: the market for holiday houses is mainly focused in Chamonix and in Torgnon. In the latter, the most sought-after areas are the town centre, for its proximity to ski facilities, and the Septumian area, for the ski tracks nearby and the panoramic view. Prices are around 3000€/Sq m for old properties in good conditions. Septulmian has lower prices: 2600-2800€/Sq.

Chamois: the most interesting buildings are those located in the small village in Valtournenche, accessible only by funicular due to the driving ban. Here, an apartment in a small residential complex doesn’t cost more than 2000€/Sq m, while a cabin can reach 2500€/Sqm. The Suisse zone is also very appreciated, spanning from Chamois to La Magdeleine. Here, an old property in good conditions costs on average 2000€/Sq m.

La Thuile and Cogne: interesting offer on second houses, with values not exceeding 300-320k €. The favourite property is the 80-100 Sq m, with three rooms. The demand comes mostly from families. In La Thuile, buyers are mainly looking for houses close to the slopes, while some others rather prefer a sunny position since temperatures can drop to -18/-22°C. A refurbished property costs on average 3000€/Sq m with peaks of 5500-5800 €/Sq m for new buildings. New houses in the neighbouring villages are sold for 4200 €/Sq m. Colle S. Marco is very appreciated for its sunny position. Here, prices for refurbished properties are set around 3000/Sq m due to the distance from slopes and facilities. In Cogne, most of the sales are for summer houses as there is only one cross-country ski slope to attract people during winter. The village offers mainly refurbished properties (3000-3500 €/Sq m). Epinel is less valued, with values around 2200-2300 €/Sq m due to the difficult connections with the other towns.

Fenis, Nus and Saint Barthelemy: there is a slight recovery in demand for three-room apartments and for detached solutions with garden. The budget here doesn’t go beyond 90-100 thousand €. Those investing in Fenis look for a base to reach Cervinia and Pila, where prices are generally higher: around 1400-1600 €/Sq m for refurbished houses and 1000-1200 €/Sq m for the old ones.  The market situation is similar in Nus, that suffers from the lack of facilities, with quotations down to 1300-1400 €/Sq m. Houses built in the last 10 years are valued around 1600 €/Sq m, while new constructions reach 1800-2000 €/Sq m.  Saint Barthelemy, 1600 meters above the sea level, also boasts a cross-country ski slope, as well as the Astronomical Observatory. In addition, it’s possible in the area to make excursions during summer. Prices for old properties in good conditions are around 1400-1600 €/Sq m. However, the offer in the area is rather low.

Source: Yahoo Finance

Translator: Cristina Ambrosi

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