Courchevel and Méribel, within the 3 Vallées, concentrate a large share of the French alpine high-end market. In Courchevel, the diversity of the villages — from Courchevel Village to Belvédère, from Morion to Le Praz and Courchevel 1850 — makes it possible to serve a varied clientele while maintaining strong architectural standards and an assertively ultra-premium positioning. The most sought-after properties remain prestige chalets and large family apartments, ideally ski-in ski-out. Prices reach €25,000 to €35,000/m² for apartments in Courchevel 1850, and up to €40,000/m² for exceptional chalets, in a broadly stable market.
In Méribel, the move upmarket continues, particularly in the Belvédère and Rond-Point des Pistes districts and in Morel. Prices there rose by +5 to +7% depending on the sector in 2025, reaching up to €45,000/m² for the most exclusive apartments. The appeal of new-build programmes reinforces this dynamic: penthouses, large properties with views and contemporary chalets with wellness areas are among the most sought-after assets. Historically dominated by French, British and Belgian clients, the alpine market is becoming more international every year. In Méribel as in Courchevel, the presence of American buyers is growing significantly, particularly for the most prestigious properties. Beyond leisure use, buying in the mountains now follows a wealth-management logic. Despite longer selling times observed since 2025, the scarcity of supply and the quality of the infrastructure support prices over the long term. The market thus combines rental yield and capital appreciation.
Chamonix, a successful diversification
Unlike some exclusively winter resorts, Chamonix stands out for operating all year round. With more than 10,000 permanent residents, the valley attracts a clientele in search of an authentic, sporty alpine lifestyle. Family chalets and well-located apartments remain highly sought after, particularly for their rental potential. Prices reach €15,000 to €18,000/m² for apartments and up to €22,000/m² for chalets. International clients are not mistaken: the BARNES Chamonix office thus sold a set of two off-plan chalets for more than 10 million euros to a young American buyer with a passion for climbing, in search of an investment of assured solidity!
While skiing remains central, nearly half of annual visitor numbers are now in summer, driven by outdoor activities, including golf, and Chamonix's legendary quality of life. The market is nonetheless constrained by structural factors: high renovation costs, changes to the local urban plan and restrictions being considered on second homes. All elements that mechanically reinforce the value of existing properties.
Megève, a perpetual quest for excellence
Megève embodies another vision of mountain luxury, more discreet but just as sought after. The village-resort par excellence, it seduces a loyal and increasingly international clientele, drawn by its art de vivre and its year-round life. Apartments of 100 to 150 m² close to the centre and family chalets remain the most prized properties. Prices are holding steady overall, with a slight rise for exceptional products: up to €22,000/m² in the centre and €24,000/m² for the most high-end chalets. The market is nonetheless shifting towards a balance of power favourable to buyers, with more abundant supply in the intermediate segment (3 to 6 million euros) and more marked negotiations. Megève's integration into the Ikon Pass network for the 2025/2026 winter season has also strengthened its appeal to international clients with strong purchasing power.