France Real Estate Market: Chamonix Short-Term Rental Restrictions

The France real estate market is undergoing significant changes, particularly in Chamonix, where property owners will be limited to one short-term rental starting May 2025. This new regulation aims to address housing availability and promote sustainable tourism in the region.

Property owners in Chamonix, nestled in the picturesque French Alps, are about to face a significant shift in their rental strategies. Starting May 1, 2025, the mairie of Chamonix-Mont-Blanc, located in Haute-Savoie, will enforce a new regulation that restricts landlords to renting out only one short-term rental real estate. This initiative aims to steer landlords away from the lucrative short-term rental market, often dominated by platforms like Airbnb, Leboncoin, and Abritel, and instead encourage a focus on long-term rentals.

This groundbreaking measure marks Chamonix as the first mountain resort in France to implement such restrictions. The decision comes in response to a staggering increase in short-term furnished rentals, which have surged from approximately 2,700 to over 4,000 in just four years, according to Mayor Eric Fournier. The allure of the short-term rental market is undeniable, with the average nightly rate in Chamonix sitting at a tempting €256. For those who can manage to keep their properties booked, this translates to a potential income of €7,936 for a full month—an enticing figure that can easily escalate for luxury chalets.

However, this financial windfall for landlords has a darker side. The booming short-term rental market has effectively squeezed out long-term residents, leading to a critical shortage of affordable housing options. With property prices in Chamonix now ranging from €10,000 to €18,000 per square meter, and rental costs averaging €30 per square meter per month, the dream of living in this alpine paradise is becoming increasingly unattainable. For instance, a modest 100 square meter property could set a buyer back between €1 million and €1.8 million, or cost a tenant around €3,000 per month—adding up to a staggering €36,000 annually.

To combat this pressing issue, the new regulations will limit landlords in Chamonix and the nearby commune of Houches to just one short-term rental real estate. Meanwhile, landlords in Servoz will be allowed two short-term rentals. Interestingly, in Vallorcine, located across the col des Montets, there will be no cap on the number of short-term rentals; however, licenses will require annual renewal, ensuring that the authorities maintain oversight.

In a previous effort to address the housing crisis, the mairie voted in 2023 to impose a surcharge on second homes, which constitute over 70% of properties in the valley. Additionally, property owners wishing to engage in short-term rentals will need to register their properties before listing them on platforms like Airbnb, mirroring regulations already in place in cities such as Paris. This registration process will enable local authorities to monitor rental activities more effectively, keeping tabs on who is renting what, where, and how many listings they possess.

In summary, while the allure of short-term rentals may be tempting, the new regulations in Chamonix signal a decisive shift towards prioritizing long-term housing solutions, ensuring that the charm of this alpine town remains accessible to its residents.