Proximity to ski slopes or to the center of the village are the driving factors. “If you can ski right up to your front door, you have an asset that will hold its value and increase every year,” Mr. Aris said, while a home in the village center appeals to buyers whose “primary reason for being in Megève is to enjoy the old town, shops and restaurants, and the town life.”
Who Buys in Megève
Back in the booming 2000s, buyers in Megève were split evenly between French nationals and foreigners, Mr. Cooke said, but today French citizens make up 70 to 80 percent of buyers.
Many foreign buyers come from Geneva, just an hour away, brokers said. They also come from other parts of Switzerland, Italy, Britain, Belgium, Holland, Turkey, Australia and Brazil.
And the Middle East is “a burgeoning market,” Mr. Aris said. “We have huge demand out of Dubai and United Arab Emirates, from Arabs who aren’t necessarily skiers, but they see Megève as a summer destination.”
Buying Basics
There are no restrictions on foreign buyers in France, agents said.
A notary working on behalf of the government handles the transaction for both buyer and seller, with the fee paid by the buyer. But it is common for buyers to request their own notaries, which costs the same, with the fee split by the notaries, Mr. Aris said: “If you’re a foreign buyer, it’s nice to know you’ve got someone who’s got your back and is independent.”
On a resale home, the notary fee and other taxes typically come to about 7.5 percent of the sale price, Mr. Grépillat said. For a newly developed chalet or apartment, the fee is about 2.5 percent.