In Courmayeur, bigger and bigger houses are increasingly sought-after
The hunt is on for apartments ripe for a premium renovation and with a top energy rating. The most attractive offers
The opening of the Skyway cable car in 2015, known locally
as the “eighth wonder of the world”, which carries passengers
to Punta Helbronner at an altitude of 3,500 metres in just
19 minutes, has really put Courmayeur on the international
map and made the second home market even more buoyant.
The demand for new builds is high but stocks are low, leaving only renovated properties or new builds on the site of a
demolished property, which are immediately sold off-plan.
“Buyers who come to Courmayeur are prepared. They tend
to be professionals, business people or from the world of show
business,” explains Nathalie Money, President of the Aosta
Valley branch of the Italian Federation of Professional Estate
Agents (FIAIP). “Most come from Milan, where the market
is quick and dynamic.
There is also interest from abroad, most recently Italians returning to Milan from London.” But the vast majority come
from Milan or Lombardy, being just two hours from the pearl
of Mont Blanc, but that is history.
In contrast, there are some who are predicting a sharp rise
in Swiss buyers, such as Marco Busanelli, an industry expert and owner of Courmayeur Estate Agents: “Geneva airport is just an hour and a
quarter away by car and many Swiss tourists were seen over
the Immaculate Conception national holiday. It would not
surprise me if many decided to purchase a holiday home
in the future.” A mountain home that “must have a certain
charm, an atmosphere that can pamper future clients.” This
means renovated, or with potential to increase its value with
an exemplary refurbishment, measuring between 90 and 200
square metres. This is how Busanelli talks about two of his
renovation projects scheduled for 2024. One of which, as we
alluded to at the beginning, was sold off plan in a flash.
A three-storey former prestigious hotel in Larzey, a former
hot spring hamlet of Courmayeur, just a stone’s throw from
the centre, is set to be converted into 7 mountain-style
apartments measuring between 80 and 100 square metres
each, which come with a top energy rating, a parking space
and a cellar. Prices range from €800,000 to €1.1 million.
Busanelli’s second project, which is still in the development phase, concerns the renovation of two old abandoned residential buildings in Palleusieux, a hamlet of Pré-Saint-Didier, which will be converted into 12 wood and stone apartments measuring 70 - 90 metres each (boasting two bedrooms, two bathrooms and a living area), to be rented out to local residents. In short, Courmayeur seems to have experienced a building frenzy over the last year, in part thanks to the regional housing plan that permits a 35 percent increase in living space for demolitions and rebuilds, compared to just a 20 percent increase for a simple refurbishment. “And that explains why there are so many building projects in Verrand, Villair and Dolonne,” explains Massimiliano Alfieri from Gabetti (tel. 3386584167). As a broker, he is currently negotiating one such project on behalf of two investors. “It is a property in Verrand, a hamlet of Pré-Saint-Didier, which will be converted into 7 luxury apartments and boast a 20 percent increase in square footage. It is expected to be completed by late 2023.” In Verrand, prices range from €7,000 to €9,000 per square metre. Even the family of Aldo and Daniela Luboz, owners of the historic newsagent’s on via Roma 57, is renovating the historic early 19th century building in which it is located. The building boasts three storeys, all above ground, divided into six luxury apartments measuring from 50 to 100 square metres each, which will be available to rent from February. According to Gianluca Filippi, license partner of Engel & Völkers (tel. 0165843668), the latest trend is for larger apartments. “While the norm used to be around 100 square metres, more and more people are now looking for apartments with at least 3-4 bedrooms measuring from 150 square metres to 220-230 square metres. A project involving several historic villas already converted into apartments with outside space, terraces and gardens, centrally located in places like Pussey, Villair, Verrand, Dolonne and also around via Roma.” A building frenzy which, far from ruining the region, has actually further enhanced it with radical redevelopments. According to Patrizia Diemoz, owner of the Patrizia Diemoz local estate agents (www.patriziadiemozimmobiliare. it), an investor’s first holiday home, perhaps to be used for rental income, could also be a 60-70-square metre two-room apartment, which are currently easier to find. Diemoz tells us that: “We are currently selling a 65-square metre furnished two-room apartment with wainscoting throughout in La Palud, a hamlet of Courmayeur just 5 minutes from the town, with spectacular views of Mont Blanc, for €500,000.”
Published on Ville&Casali January 2023
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