Summer Home Property & Living Annecy

Drawn to lakesides and mountains?
Here you can have both (and more)...

The 2018 Winter Olympics might be heading elsewhere, but the stylish and dynamic lakeside town of Annecy already seems to have it all.

It's not hard to see why Annecy is widely perceived among the good people of France as being as just about the perfect place in which to live, all year round. Most immediately obvious is an irresistible lakeside setting which alone should create a desirability factor comparable to that of somewhere like Geneva or Montreux. All three towns are departure points for gentle (not to say genteel) lake cruises, although on the Lac d'Annecy the overall effect is on an altogether more human scale than those of its Swiss counterpart.

Not surprisingly, throughout the summer the sheltered lake is a popular setting for sailing and watersports, and the lakeside parkland also offers open spaces for walkers, joggers and cyclists. In summer months there's even a bus service which transports mountain bikers to the nearby winter sports area of Le Semnoz (1700m) for a 20km descent back to the town.
The town's profile has been raised considerably by its determined bid to host the 2018 Winter Olympics, which, despite being shortlisted, ultimately proved unsuccessful. In all respects, it seemed like a strong contender, for when winter closes in, a mere half an hour's drive is all it takes for Annecy's weekend liesure skiers to reach popular family resorts like Le Grand Bornand and La Clusaz.

The vibrant pastel colours of the Italianate façades reflected in the calm waters of the canal.

“La Venise des Alpes..”?

Not exactly, but like the real thing located considerably beyond the big mountains rising impressively at the far end of the lake, the ancient heart of Annecy preserves an abundance of medieval architecture penetrated by elegant quays and waterways. So the analogy promoted tirelessly by generations of tourism professionals is perhaps at least partly justified. And we really do mean 'abundance' – first-time visitors expecting to see a handful of isolated structures surviving here and there among later additions are stunned to discover virtually the whole of the old town looking and feeling (particularly at nightfall) much as it would have done centuries ago, when Annecy replaced Geneva as the capital of Savoie.

The quayside restaurant terraces look inviting, whether sunlit or illuminated at nightfall.

The town remains visibly prosperous, beautifully restored and lovingly maintained, with daily life unfolding beneath the impassive gaze of a formidable 12-16th Century feudal chateau. These days it contains nothing more sinister than a museum dedicated to Alpine art (la Musée d'Art Populaire Alpin) and an Alpine lake observatory (l'Observatoire Régional des Lacs Alpins) documenting birds, fish and other lakeside life from prehistoric times, along with exhibits revealing the evolution of boats and lake fishing. In fact, it's more interesting and relevant than it might sound. The Lac d'Annecy is over 14 km long and the cleanest in Europe, with a history spanning thousands of years (archaeologists have found remains of a waterfront settlement near Annecy-le-Vieux dating back to at least 3100 BC).

Quintessentially Savoyard...

All of which makes Annecy feel like the very embodiment of the Alpine retro-chic style which in various forms has proved increasingly marketable in recent years, enthusiasm for which so far shows no sign of cooling-off. Quite the reverse, in fact, as a combination of increased prosperity and a steady growth in activity holidays draws visitors back to the mountain regions of France long after the ski season has ended. And when they leave they want to take a little Savoyard item or two back with them to keep the memories alive until their next visit. Catering for them are increasing numbers of designer boutiques and (on the last Saturday of each month) regular brocante and bric-à-brac markets.

At any time of the year the historic heart of Annecy is a popular and atmospheric meeting place.

Not that the local economy is totally dependent on revenue from tourism, however welcome its contribution. For all its pervasive sense of history, Annecy (birthplace of the Carrefour Group) remains a vibrant commercial centre, thanks to the presence of companies like bearing manufacturer SNR Roulements and sports equipment giant Salomon, founded here in 1947 and still a major employer despite the company's ski production having recently moved overseas. Adding to the term-time energy levels are around 11,000 students, some 4,500 of whom are based at the Université de Savoie's campus in Annecy-le-Vieux.

A golden opportunity for property investors?

Despite having long been twinned with the Cotswold spa town of Cheltenham (plus Italy's elegant Vicenza, among others) the name of Annecy remains relatively unfamiliar. But if the 2018 Winter Olympics bid (in the face of stiff competition from both Germany and South Korea) proved unsuccessful, at least the world has been hearing a lot more about Annecy, where it is likely that the demand for property will continue its relentless upward progression.

..the scope for good rental returns remains high in a university town which regularly hosts international conferences, festivals and sporting events. Nearby ski resorts like Le Grand Bornand and La Clusaz (which were among the planned venues for the events) already demonstrate steady capital growth, while rental incomes should follow suit – and the scope for good rental returns remains high in a university town itself, which regularly hosts international conferences, festivals and sporting events.
Which makes this an interesting moment for anyone contemplating Alpine property investments. Skiers from the UK will already know the name of Savoyard property developer MGM Constructeur, whose prestige serviced apartments (managed by the Company's wholly-owned subsidiary CGH) have set the bench-mark for self-catering ski accommodation in the French Alps. MGM is currently rounding off the final phase of its acclaimed Village de Lessy leaseback apartments in nearby Le Grand Bornand, and is no stranger to Annecy, where it is offering a selection of premium residential developments in prime locations.

Mid-summer adds colour to a lazy lakeside promenade, while boats slumber in le Petit Port.

© Roger Moss 2011

More information

For full details about new homes in Annecy call MGM on
(UK) 0207 4940706, email: london@mgm-immobilier.fr
or visit the website: www.mgmfrenchproperties.com