Aix-les-Bains, on-going development
Radia Amar - 27 May 2014
On the banks of Lake Bourget, the largest natural lake of glacial origin in France, Aix-les-Bains has become a fully-fledged tourist resort and a lively commune attracting many members of the local working population.
Particularly well-known for the quality of its thermal cures, Aix-les-Bains also offers many other assets : the largest softwater pleasure boating harbour in France, a well-preserved natural environment, an ideal location between the lake and mountains, efficient motorways, and now cultural events of quality such as the annual Musilac festival, with stars from the international pop/rock scene. Once a favourite destination for crowned heads and well-off visitors in the “Belle Epoque”, it has inherited a town centre with palatial architecture from its flamboyant past. Home to almost 28,600 residents, Aix-les-Bains is lively year-round and still growing. Over the past few years, many new developments have risen from the ground. Today, its agglomeration is gradually joining up with that of Chambéry. The local economy is doing well and spa tourism continues to nourish the service sector in all four seasons.
Eric Belliot, manager of Laforêt Source Immobilier, specializes in the entire basin around Aix. “Aix-les-Bains is still seeing a wave of expansion : the centre has now been extended to the surrounding communes, notably Brison-Saint-Innocent and Tresserve, which are increasingly popular. Many of our clients work in neighbouring business centres such as Technolac, but they also come from Grenoble, Annecy and even Geneva. The most widely sought-after property is an apartment in a recent residence with a lift, and a terrace offering a view of the lake or mountains. In the town centre, old properties of charm in palatial old buildings also have their fans.” The price of quality apartments in the centre or on the banks of the lake range from 3,500 to 4,500 € per sq. metre, rising up to 7,000 € per sqm. for those with high-end appointments. Apartments suffering from noise in middle-range residences or non-competitive energy ratings can be found from 1,600 € per sqm. On average, for a soundly-built 2-bedroom apartment, one can expect to pay from 200,000 to 250,000 €, or 300,000 to 500,000 € for a house enjoying a view.
Michel Baillot, manager of the Vallat Immobilier agency, in a prime location opposite the Casino, says that demand for second residences is holding steady despite the crisis. “Buyers from Paris, Lyon, Lille, Switzerland, the region around Lake Geneva, England and Belgium, are all drawn by this elegant town on the shores of a large lake. They appreciate the quality living conditions, the pleasures offered by the mountains, without being at an excessively high altitude, and the proximity of an airport and the TGV station in Chambéry, a 3-hour ride from Paris,” explains this estate-agent, who frequently sells classy pieds-à-terre to people taking cures who fall in love with the town and decide to treat themselves to an apartment right in the centre. “When a property has all the required attributes, ie. high-quality construction in a pleasant residence with a lift and a location from which one can reach everything on foot, it doesn’t stay long on the market - less than three months in general -, demand is so strong for this type of product,” he explains. “Even if the property market in Aix-les-Bains has felt the effect of the crunch, we are still chalking up a lot of transactions. Today, all of our clients arrive with serious projects and are genuinely keen to buy. Only the very high end of the market is getting the cold shoulder. Properties well above one million euros suffer from a wait-and-see attitude on the part of buyers, who are not in any hurry and hesitate to invest such hefty sums.” For Michel Baillot, 2014 has already gotten off to a better start than 2013. An observation shared by both of our specialists.