As a result of the pandemic, many landlords experienced a blank year in 2021 and were unable to rent: these are therefore apartments in residences managed by major operators.
Beyond this aspect, we must take into account global warming which reduces the number of days of snow per year. But at the same time, the mountains can also attract more and more French people who want to escape the increasingly frequent heat waves in summer. The details of Charlie Cailloux, legal adviser for the real estate site PAP.fr.
franceinfo: The February holidays are approaching, you may have planned a skiing holiday, and some of you may be planning to invest in an apartment in the mountains. How to buy at the best price?
Charlie Pebbles: Due to the health crisis which forced winter sports resorts to remain closed last winter, some owners experienced a white season and were forced to sell their apartments. So there are a few more offers than usual but let’s not get carried away, prices at the mountain are not falling, demand remains strong.
And besides, demand remains strong for the same reason: with the health crisis, the mountains, like the coast and the countryside, are the subject of renewed interest. The mountain is wide open spaces, the great outdoors, nature activities, everything that many people have been looking for since March 2020.
Concretely, where are these good deals?
In residences managed by major operators, those who have not paid rent for several months to their owners. This leads them to sometimes be forced into a sale, even a quick sale. Which is synonymous with prices in the lower ranges.
But be careful, when you buy this type of apartment, you take over the existing lease between the owner and the operator with all the constraints that this implies: number of possible weeks of occupancy per year, amount of rent paid, etc… And if a dramatic situation like that of last winter were to recur, you too could find yourself without collecting rent.
So, yes there can be good deals but you have to know where you are stepping. And then, more generally, the annual maintenance costs of buildings in the mountains are higher than in town: the cold and the snow wear out the materials more quickly.
There is still an important point to address when planning to buy in the mountains, is global warming and its consequences on snow cover?
You are right ! Global warming means fewer days of snow and therefore a shorter winter season (and therefore less possibility of being able to rent to skiers). But global warming also means summer heat waves, a phenomenon that is increasing almost everywhere in France… except at altitude.
I would say that if you are a ski addict, you should aim for resorts at least 1,800 meters which will, in the short or medium term, be less impacted by the lack of snow. If you need to rent, choose resorts or villages that offer activities in both winter and summer, with dynamic tourist offices, able to attract tourists in all seasons.