You want to settle in Annecy. Whether it’s the choice of a lifestyle or the result of a job transfer, you will need to choose between renting or buying a property. Below you will find an analysis of the real estate market in the old town, with a view to acquiring your primary residence.
The price map per square meter by sector in Annecy
Prices by sector for apartments
Prices vary greatly from one sector to another. It is essential to be familiar with this sector map before visiting properties for sale.
- The famous golden triangle, between the Galeries Lafayette, the avenue d’Albigny, and Bonlieu is the most expensive. The average price per m² is around €5,000.
- The historic sector including the pedestrian cross (rue Royale and rue Carnot) as well as the Old Town of Annecy is almost at the same price levels: €4,800 per m².
- The sector of the place des Romains, avenue de Cran offers intermediate price levels between €2,700 and €4,100 per m².
For more affordable prices, you need to move a bit further from the city center. - To the south in the Balmettes district, you can expect to pay €3,400 per m².
The two previous sectors are recommended for first-time buyers. Close to the city center, they are much more affordable. - To the north, avenue de Genève, Novel district, prices are around €3,000 per m².
- The sector outside the Annecy ring road trades between €2,000 and €2,700 per m². This sector includes the Teppes district, the Parc des Sports district, and that of avenue du Rhône.
Price by sector for houses
The prices below correspond to averages, the discrepancies observed are often significant depending on the condition of the property and the land area offered.
- Annecy: Townhouses are rare for sale and budgets are often above one million euros.
- Annecy-le-Vieux: This is the most sought-after municipality, expect around €4,600 per m². Large plots are highly sought after, with prices often exceeding €6,000 per m².
- Seynod: The price range is broader, depending on the condition of the property, expect between €3,500 and €4,200 per m².
- Cran-Gévrier: Prices are more reasonable: between €3,000 and €3,900 per m².
Around Lake Annecy, the East bank is the most sought after, but the West bank is experiencing beautiful development with quality new programs.
The evolution of real estate prices in Annecy
Another element to consider is the evolution of real estate prices over time in Annecy. The Annecy real estate market is largely bullish in the long and medium term whether for an apartment or a house. It is therefore a low-risk investment.
Evolution of the price for an apartment
Evolution of the price for a house
In the short term, prices have been stable for two years. In Annecy, we cannot speak of a lasting decline in prices in real estate; rather, there are periods of slight price erosion and market consolidation. The real estate prices in 2022 were still largely bullish.
Annecy, a quality of life reflected in real estate prices
Annecy is a community of 225,000 inhabitants, with a strong economic dynamism. The geographical location is excellent. The city is by Lake Annecy, at the foot of beautiful mountains, an hour’s drive from ski resorts and 30 minutes from Geneva by highway.
Le JDD published in January 2020, a ranking from a study that covered 182 criteria to know the city where it is good to live. The city of Annecy came in first place.
These assets make it a highly attractive area, and therefore in high demand in terms of real estate. This is the explanation for the high price level of properties for acquisition. However, investing in real estate is very profitable over time.
A national context less favorable for buying a property
Financial returns and interest rates
Becoming a homeowner of your primary residence is a dream for many French people. This choice seems wise as it allows for forced savings and builds a real heritage over the long term.
The interest rates have risen significantly since 2021 which does not facilitate access to property. Especially when we see the rise in prices in Annecy over the past 10 years. It is therefore increasingly difficult to invest in real estate in Annecy.
Profitability of a property
Recent studies indicated that the purchase of a property of 70 m² becomes profitable on average after three years. This means that beyond three years of ownership, it is better to buy than to rent. This observation should be put into perspective; it is a national average. For cities considered “expensive,” the duration extends: 7.5 years in Lyon and 9 years in Paris. Annecy clearly fits into this pattern; it takes a few more years to make your purchase profitable.
The Figaro ranking
A ranking of cities established by Figaro in December 2020 ranks Annecy, in first place with Aix-en-Provence and Toulouse, as cities where it is worth investing in old real estate.
This ranking concerns only cities with more than 100,000 inhabitants. Lyon ranks fourth. This result reinforces the capital of Haute-Savoie as a safe bet for investors looking for good rental returns. It is also a guarantee for first-time buyers that their acquisition will increase in value over time.
This position is reinforced by the quality of life in Annecy, strong demand, a tight real estate market, and proximity to Switzerland. Many Annecy residents choose to work in Switzerland.
The level of real estate prices in Annecy according to neighborhoods follows the same geographical trend if you consider renting your accommodation. More information with our file: Renting accommodation in Annecy.
