The market has – a little – calmed down in Annecy (Haute-Savoie). Properties that traded quickly in recent years find buyers less quickly and are the subject of significant negotiations, especially when they have defects. As evidenced by this 76 square meters in the city center, a noisy first floor, put on sale for 475,000 euros six months ago and which is not selling, according to the agency responsible for its marketing.
Concern about the energy performance of properties is notable. “Buyers are asking more and more questions about the energy class of housing and those labeled F and G are subject to discounts”, indicates Michel Bourgne, head of the Stéphane Plaza Immobilier agency. E-rated housing is not spared, with buyers fearing they will have to do work, he adds. Owners, for their part, delay the moment to sell as much as possible, when they are not in a hurry by a divorce, a transfer or an inheritance.
However, this slowdown should remain cyclical as demand for housing remains strong in Annecy. This affects prices, still up 4.1% over one year, according to MeilleursAgents, even if they show a slight drop over the last quarter (− 1.2%).
Over five years, the increase reaches almost 33%. It’s difficult to find an apartment for less than 6,000 euros per square meter and houses for less than 600,000 euros are rare. The square meter for quality properties can exceed Parisian averages and reach 10,000 euros.
Exceptional properties, with a view of Lake Annecy or in the immediate vicinity of it, are not experiencing the crisis. “Waterfront houses are sold in one day, for well over a million euros, to clients from Paris, Belgium and even Lyon”, testifies Sasha Marmillon, partner at Sotheby’s International Real Estate. This agency manager indicates that she has made one in three sales to Belgian nationals in 2023.
Secondary residences
Demand is concentrated in the city center, starting in the east of it, with the Parmelan-Albigny district. You need a million euros for a family apartment. Prices soften somewhat going towards the north of the city; for example, you should plan a budget of 600,000 euros to 700,000 euros for a three-room apartment near Avenue Gambetta.
Old Annecy (not to be confused with the Annecy-le-Vieux district) is also popular; its pastel-colored buildings, its canal, its castle and its shops attract. Count 10,000 euros per square meter for an apartment with a view of the castle, and in the beautiful 17th century buildingse and XVIIIe centuries. Be careful, however, of the humidity in some of these old buildings.
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