French apartment prices up

The report, launched by estate agent Leggett Immobilier tracks the values of Alpine property, particularly in four areas: Haut Alpes, Massif d'Aravis, Portes du Soleil and Three Valleys.

According to its inaugural figures - based on over 100 valuations of a fixed sample of properties - the index shows that in 2014, apartments rose in price by an average of 1.3 per cent, while chalets fell by 1 per cent and houses by 3.4 per cent.

The report highlights that this is a series of local markets. For instance, in the final quarter of 2014 prices in Portes du Soleil fell by 1.2 per cent whilst in the Three Valleys prices continued a strong run and grew by 1.8 per cent. Leggett also look at the effect that currency movements have on demand. For instance the price of French property has fallen by 8.2 per cent for investors from the USA during 2014 and by 4.4 per cent for UK buyers. However, prices are up particularly for Russians spending roubles with prices up by 44.7 per cent.

Heather Byrne, area controller for the sales team in the Alps, comments: "Our quarterly Leggett Alpine Property Index clearly shows that international buyers view the property market here as having had the equivalent of a sprinkling of fresh powder in 2014. Lower prices and attractive interest rates are the two main drivers but we are also noticing a trend for year round demand in the Alps with walkers, and particularly cyclists, flocking to the mountains. The market is coming back with British buyers laying down the first tracks. As a company we saw sales increase by 49% last year proving that buyers are increasingly seeking a mixture of local knowledge and a balanced portfolio of property to choose from."