Annemasse, a town for people working in Switzerland

In a strategic position on the Franco-Swiss border, 2 km from the canton of Geneva, Annemasse is the central hub of an urban area with a population of almost 300,000. Its property market mainly focuses on permanent homes for “frontaliers”, ie. people working across the border.

Traditionally split into four neighbourhoods laid out around its centre, Annemasse is a medium-sized town with 32,000 inhabitants, numerous schools with good reputations, a full array of shops, services and amenities, and, above all, efficient road and public transport networks heading towards Switzerland. Plans for an extended tramway which will link Annemasse directly to Geneva are making the commune even more attractive and enticing in terms of investment : it will complete the CEVA rail service (Cornavin-Eaux-Vives-Annemasse) to become operational in 2017.

“Easy access to Geneva is the most important factor for buyers looking for homes in Annemasse,” says Catherine Delucinge, manageress of the Euro Suisse Immo agency. With a market mainly comprised of apartments, Annemasse meets the needs of a clientele of “frontaliers” who can set their sights on classic 2-bedroomed apartments at prices starting from 200,000 €. “There is lots of choice, especially as a good number of new developments have increased availabilities on the commune’s property market. Priced from 4,200 to 4,800 € per sq. metre, these properties are drawing more and more buyers, including first-timers benefiting from the new PTZ (Zero Interest Mortgage),” explains Catherine Delucinge, who is confident about an upturn in the market after several lacklustre years during which buyers adopted a wait-and-see attitude. Houses are rare in Annemasse intramuros. When they come up for sale at the going price, they sell very quickly. By way of example, our estate-agent mentions a home of about 100 m2 in need of renovation with a garden of 700 m2, which just sold for 365,000 €. It seems, however, hard to get estimates accepted by sellers who have not yet fully digested the overall decline in prices seen over the past few years. “Buyers in search of houses turn more readily to the neighbouring, and highly-prized, addresses of Gaillard, Ambilly and Ville-la-Grand, where they can set their sights on a recent villa with two or three bedrooms requiring a budget of around 450,000 €. However, given steady demand, the supply of offers here is becoming tighter.”

Opened in Annemasse in 1976, the family-run Catherine Desormière agency specializes in sales, rentals and property management all over the commune. “At the moment, 1-, 2- and 3-bedroomed apartments are in high demand, especially those to renovate, corresponding to the most modest budgets. Overall in Annemasse, the average price today is around 2,800 € per sq. metre,” says Maica Desormiere. Priced from 170,000 €, the cheapest apartments in residences built in the 1960’s and 1970’s are seen as opportunities, especially by first-time buyers. “When in good condition, houses range from 500,000 to over 1 million euros for those offering high-quality appointments.” In addition to “frontaliers”, senior citizens who have sold their houses and want to benefit from the amenities provided by the town centre also comprise part of the agency’s clientele. “They are looking for comfortable apartments, new or recent builds, ideally with terraces and parking facilities,” adds Maica Desormière. “The many new resid­ences in Annemasse, whose finest apartments can attain 5,000 € per sqm, meet their requirements.”