Demand which seeks to combine a leisure investment, financial viability and the security of bricks and mortar.

In the mountains, property acquisitions, encouraged by the development of attractive products responding to new expectations in terms of ambiance or lifestyle, are primarily approached on a pleasure-purchase basis, and are often part of a project with a family dimension.

Investors are first and foremost looking for a pied-à- terre in the Alps due to the region's proximity, wide open spaces and quality of life.

But, invariably, financial viability is also a consideration, with rental income needing to cover annual running expenses as well as the cost of family holidays. As a result, properties are increasingly designed to meet both the buyers' aspirations as well as the specific requirements of a rental property. In 2020, rental prop- erties made up 95% of the Cimalpes network's sales.

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Investors who stimulate the rental market

Irrespective of the type of property (studio, large apartment or chalet) 95% of purchases of new build or older properties also include a project to commercialise the property on the rental market.

This trend has two positive effects. For the resort, it allows an increase in the number of beds available for rental stays, thereby attracting more visitors. For the market, it generates potential new investors as almost all buyers who invest in a resort have stayed there at least once previously, most often in a rental property.

2005 2010 2015 2020

65% 75% 82% 95%

Evolution of the average rental yield Evolution of the share of rented properties after purchase

2.5% 2.5%

2.8%

3%

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