Olivier BUILLY Partner

olivier.builly@cimalpes.com

Grégory FLON Partner

gregory.flon@cimalpes.com

Benjamin BERGER Partner

benjamin.berger@cimalpes.com

Editorial

After the spring restrictions, the upmarket real estate sector in the French Alps reacted well, both in the transaction and holiday rental markets. At a time when new measures are being taken to restrict travel, the outlook appears paradoxical, uncertain in the short term but favourable in the medium and long term, since the advantages of the mountains - proximity, nature, quality of life - are rising values that have been strengthened in this particular year.

One might have expected, during the first episode of the health crisis, that the real estate sector would have been more exposed and would have reacted more drastically. But the opposite happened with the transaction and seasonal rental markets, which this summer and autumn proved surprisingly resilient, as if they had experienced a crash-test that tested the strength of their fundamentals. The Alps have confirmed their attractiveness, the prospects for profit- ability are still good in the long term and the investments are relevant. This threefold observation made in the autumn will be put to the test once again with the latest announcements of the President of the Republic and a very uncer- tain context for this winter season. The postponement of the opening of the ski lifts requires a whole ecosystem to reinvent itself in a few weeks, or even days, to propose a new offer. An offer refocused on the very values of the mountains, non-skiing activ- ities that require the redevelopment of resources and infrastructures in a very short time. However, the mobilisation and determination of the mountain stakeholders, local authorities, ski areas, accommodation providers, socio-professionals, is total to make this season a season that counts. The clientele will evolve to consist mainly of owners who will want to occupy their property, urban teleworkers and a regional clientele who will opt for local destinations. In this way, it should make it possible to maintain a high occupancy rate during the opening weeks and, paradoxically, strengthen the pool of motivated new buyers.

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