Property prices in Chamonix, a picturesque town in the French Alps, have been skyrocketing in recent years, largely due to the surge in short-term rentals. This trend has prompted the mayor, Eric Fournier, to take action by implementing restrictive measures to restore balance in the housing market.
According to reports, the number of short-term furnished rentals in Chamonix has increased significantly, from 2,700 to over 4,000 in just four years. This growth can be attributed to the lucrative nature of the short-term rental market, where landlords can earn substantial profits compared to long-term rentals. The average price for a short-term rental in the city is €256 per night, making it a lucrative option for property owners.
However, this surge in short-term rentals has had negative consequences for the local community. Permanent residents are finding it increasingly difficult to secure long-term rentals or affordable properties, as the demand for short-term accommodation continues to rise. As a result, property prices in Chamonix have soared, with costs ranging between €10,000-18,000 per square meter, and rental prices averaging €30 per square meter per month.
In response to these challenges, the mayor of Chamonix has announced a new quota system that will limit property owners to renting out only one short-term rental property in Chamonix and nearby communes. This measure aims to encourage landlords to prioritize long-term rentals over short-term holiday lets, thereby addressing the shortage of permanent housing options in the area.
Additionally, property owners will be required to register their short-term rental properties before listing them on platforms such as Airbnb. This registration system will enable authorities to monitor and regulate the rental market more effectively, ensuring compliance with the new restrictions.
Mayor Fournier emphasized the importance of maintaining a balance between short-term and long-term rentals in Chamonix, stating that the valley is not an amusement park. He highlighted the need to address the pressure on property prices and the impact of fluctuating tourist numbers on the local housing market.
While these measures have received support from local officials and residents, there have been challenges in implementing similar regulations in other regions. However, efforts are underway to strengthen legislative measures at the national level to regulate tourism lets and improve environmental standards for short-term rentals.
Overall, the actions taken by the mayor of Chamonix reflect a growing concern about the impact of short-term rentals on local communities and the need to prioritize sustainable housing solutions. By implementing these measures, Chamonix aims to restore balance in its housing market and ensure the long-term well-being of its residents.
