afraid of a shortage of new housing?

After a sharp drop associated with successive restrictions in 2020, the production of new housing in the Pays de Savoia as a whole has started to rise again. Just like the prices.

However, if the dynamics continue in the north of Haute-Savoie, 2022 promises to be marked by uncertainty for the markets of Annecy, Aix-les-Bains and Chambery.

Doubtful: lack of land, halving of building permits, May-June election period, economic turmoil related to the health crisis and the Ukrainian dossier.

The housing shortage phenomenon, which has already hit Annecy and Aix-les-Bains hard, is likely to have a strong impact on Chambery in turn.

North of Haute-Savoie, just as dynamic

“New construction in Chablais is booming,” says Vincent Davy, president of the Alpine Federation of Developers (FPI). And the numbers show it well: in 2021, 878 new homes were sold in this sector in the north of Haute-Savoie, up 14% more than in 2019 and 52% more than in 2020.

“Shabla has been short of new housing for a long time and is making up for it,” he says. Thus, many programs appear from the land of Douvain to Evian, via Messery, Thonon-les-Bains or even Pabliers. No less than forty programs are currently on sale along this axis on the shores of Lake Geneva.

And 2022 promises to be just as fruitful, with over 900 homes up for sale. Despite the abundant supply, prices are rising sharply: 5,010 euros per m² on average, compared to 4,346 euros in 2019.

Further east, near Annemasse, new construction has also rebounded, with 460 homes sold (338 in 2020, 565 in 2019). The same is true for the Saint-Julien-en-Genevois sector, which returned to its pre-crisis levels with 242 new homes sold.

The momentum should continue this year, a sign that the cross-border labor market has not been hit by the health crisis in the end. As for the price, these areas show about 4900 euros m², which is 14% more than in 2019.

The Chambéry pool attracts investors because the price per m2 remains one of the cheapest in the major cities of the region. The DL Archives / Thierry GUILOT

Chambery, still attractive

“The market is growing noticeably in and around Chambery, in La Ravoire, La Mothe-Servolex, Saint-Baldof and Saint-Alban-Lesse,” explains Vincent Davy. Around 660 units were sold in Greater Chambery in 2021 (+14% yoy). Concrete continues to flow in and around Chambery for two reasons: its economic and demographic dynamism, and the continued interest of investors in leasing.

“In addition, in 2021, 55% of new housing was sold to investors. This is less than in 2019 (69%), but much more than in Annecy (30%), he develops. The Chambéry Basin attracts them because the price per m2 remains one of the cheapest among the major cities in the region, and high rental rates allow for an attractive rental income. »

But between prime home buyers and investors, new supply is starting to dry up. Moreover, building permits have been falling sharply for several months now. “We risk running into a real air pocket in 2022 due to supply shortages,” he warns. Thus, FPI des Alpes is planning further price increases. m² in new buildings now reaches 3,816 euros compared to 3,493 euros in 2019.

New, in free fall in Aix-les-Bains and Annecy

Increasingly popular, especially among Parisians, Lyons and Annecy residents, Aix-les-Bains is experiencing an unprecedented real estate boom. Prices bite both in the old and in the new.

From 4,137 euros in 2019 m² in Aix-les-Bains and in the 28 municipalities of Grande Lac has grown to 4,600 euros! High inflation is also due to the lack of new programs. Only 353 homes were sold in 2021 compared to 500 in 2019 (-29%). A scarcity phenomenon exacerbated by a health crisis that appears to be coming and should continue into 2022.

“There are too few building permits issued in Aix-les-Bains, and it is more difficult for developers to increase the area of ​​available square meters of land. The land, which is also being negotiated, is getting more and more expensive,” explains the President of FPI des Alpes, deploring the impact these factors have on the final sale price of a home. To buy a new apartment in Aix, the average budget is 293,000 euros, compared to 241,000 euros two years ago.

Finally, the same critical situation in Greater Annecy. Due to the health crisis, lack of available land and blocked building permits, the new housing market is in the worst shape. In 2021, only 950 new homes were sold. Production has not returned to pre-crisis levels, and 2022 looks set to be even worse.

“Only 571 new homes are under development,” worries Vincent Davy, who believes that at least 1,200 new homes are needed every year to meet demand in the Annecy basin, relax the market and avoid a price surge.

Because the average price of a new m² in Annecy is now higher than in Lyon: 5,386 euros versus 5,262 euros. Conclusion: Finding new housing in the Annecy area has become very difficult.

“In this way, rare programs appear from underground, especially in the nearby transitional markets: Metz Tessy, Seinod or even Vieux la Chiesa,” concludes the president of the FPI des Alpes.

A total of 46 municipalities of Savoy are currently eligible to participate in the Pinel system.  Here, Chamonix.  Adobe Stock illustration

New zoning: good news for new buildings

This is good news for investors and new buyers looking to buy a new one. Housing Minister Emmanuel Vargon announced the rezoning of 39 municipalities in Haute-Savoie and 7 in Savoie.

They have now been reclassified to Zone A or B1. The zoning is important as these municipalities qualify for the Pinel Investment Lease Scheme and a Zero Interest Loan (PTZ) for the acquisition of prime housing in new construction.

Objective: to facilitate the construction of new housing in the territory of Savoy and thereby ultimately relax the market, both for purchase and for rent.

These are mainly municipalities located at a height (Courchevel, Tignes, Val d’Isère, Chamonix, La Clusaz, Les Houches, etc.), but also those located around Lake Annecy (Veyrier-du-Lac , Menthon-Saint-Bernard, Talloires, Dussart, Saint-Jorio and Sevrier) and on the shores of Lake Geneva (Messery, Nernier, Yvoire, etc.).

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