The Les Gets resort is located between Lake Geneva and Mont Blanc. Les Gets is a typical Savoyard village that perfectly meets the expectations of mountain lovers.
Approaching the last quarter of 2023, Thomas Mudry, director of ACM Immobilier agency, outlines the latest trends in the real estate market in Les Gets.
What do you think are the current trends in the real estate market in Les Gets?
“The market has been rather quiet for a year, compared to previous years,” explains Thomas Mudry. "There has been a slowdown in the number of sales and visits compared to last year. But we have mandates, increasingly more properties for sale, and a significant number of appraisals conducted.” From his point of view, he notes that the supply is greater than the demand. Prices “remain stable through the seasons”.
One essential thing to remember when discussing real estate market trends is that when the media talks about it, they give a “general trend of the residential real estate market, at the national level. It must not be forgotten that Les Gets is located in a mountainous tourist area with its own real estate market”.
How have square meter prices evolved over the last 5 years?
ACM Immobilier notes that over the last 5 years, square meter prices “have only increased”. The most affected by this increase are properties in new developments.
This is explained by a strong demand that occurred after the Covid health crisis. This led to an increase in prices over the last years and stabilization for a year.
ACM Immobilier agency operates in a “very specific” market that includes “a second home / tourism market. Logic would dictate that prices decrease with a supply higher than demand. But for the moment, there hasn’t been a significant drop.” Thomas Mudry highlights the fact that “during transactions, there is more and more negotiation”. He explains this with the fact that the “French clientele is subject to higher borrowing rates from banks”. On his side, the English prospects, who represent a significant part of the clientele, have become “a bit more cautious about the general international economic situation. They don’t invest as much as before Brexit”.
What is the average square meter price in Les Gets?
“In the secondary market, the range is between 6,800 euros to 9,000 euros per square meter,” explains Thomas Mudry. Regarding new developments, square meter prices also vary depending on the location of the properties. “In the Perrières district, we have slightly more affordable projects, since they are away from the center of the resort. In this area, prices start between 8,300 and 8,500 euros per square meter. In the heart of Les Gets, prices easily reach 12,000 euros/m²”.
The prices mentioned by the agency director are “price ranges defined based on the properties we have sold”. It must not be forgotten that “in Les Gets, as elsewhere, there are more attractive geographical areas than others, and the price of a property varies based on several factors”.
What type of property is most in demand at your agency?
“We currently have a strong demand from clients looking for individual chalets, of a standard capacity, i.e., 120 to 170 m², 3 bedrooms”. The budget for this type of demand “varies between 750,000 euros or 900,000 euros”.
Regarding apartments, “
