THE FUTURE OF OUR MOUNTAINS

WHAT FUTURE FOR OUR MOUNTAINS ?

An inevitable evolution, but an opportunity for the highest altitude resorts

Global warming is gradually changing the winter sports landscape.

While some low and medium altitude resorts are struggling to maintain their activity in the face of declining snowfall, the resorts above 1,400 metres still show a good resilience.

This situation is causing profound changes in the tourism and mountain real estate market, with a significant increase in prices in the higher areas.

The closure of low and medium altitude stations: an unavoidable reality

Stations below 1,400 meters are the first affected by lack of snow.

Milder temperatures shorten the snow build-up period and increase the likelihood of precipitation in the form of rain rather than snow.

As a result, several mid-altitude resorts have already ceased winter activities or have converted to four-season tourism.

The resorts of the Vercors or the Massif Central, fight each year against the lack of snow.

The rise of the highest resorts: rarity boosts real estate

Resorts above 1,400 meters are doing well, with lower temperatures and better weather conditions continuing to attract skiers and investors.

These stations could maintain favourable snow conditions until 2050, subject to specific local factors.

However, beyond that date, the viability of alpine skiing could be compromised if greenhouse gas emissions are not reduced significantly. It is therefore essential for these resorts to consider adaptation strategies, such as diversification of tourism activities, to ensure their long-term sustainability.

The rarefaction of high-performance ski destinations creates a real estate scarcity effect that increases property value. According to a study by FNAIM, the average price of real estate in high altitude resorts has increased from +5% to +10% per year in recent years.

These high prices are due to the guarantee of more stable snow cover and easier access to ski areas, but also due to a profound change in the attractiveness of these territories.

An investment for the future in mountain villages

As global warming affects urban and low-lying areas with increasingly intense heat waves, the mountains appear as a refuge destination.

Warmer temperatures in summer are now attracting city dwellers looking for a better living environment, cleaner air and privileged contact with nature.

In addition, mountain resorts are diversifying. Faced with climate uncertainty, they are developing new offerings:

• Development of summer activities : hiking, mountain biking/ e-bike, paragliding, yoga retreats, snowshoeing, thermal baths, water sports centers, cinemas, skating rink, trail, etc.
• Innovative equipment : more efficient artificial snow production and creation of multi-purpose infrastructures (e.g. optimised snow guns, synthetic slopes).
• New tourism trends : rise of wellness stays, gastronomy, telework at altitude and demand for second homes to escape the summer heat.
• Valorisation of natural and cultural heritage with museums, festivals and discovery trails.
• Upgrading infrastructures : construction of high-end residences, quality chalets and development of dedicated services.
• Diversification of winter activities beyond skiing, such as snowshoeing, Nordic hiking, cross-country skiing, slide tours, toboggan runs, etc.

Why investing in altitude remains an excellent choice

The real estate market in the mountains is doing well, especially in high altitude resorts where property is more scarce. An FNAIM study found that the average price of properties above 1,500 metres rose by 6% in 2023, despite a slowdown in the national real estate market.

There are several reasons for this :

• The rarity effect : The gradual closure of mid-mountain resorts concentrates demand on high-altitude resorts, mechanically driving up prices.
• An internationalized market : Large resorts attract wealthy foreign investors, including British and Swiss, willing to invest in luxury residences.
• Successful economic diversification : The expansion of tourism to summer activities ensures more stable profitability throughout the year.
• A sustainable investment in the face of climate change : Even if snow becomes scarce, mountain resorts could become climatic refuges, attracting a population in search of summer freshness and quality of life.

A new era for the mountain

Faced with climate challenges, mountain resorts are rethinking their economic model to ensure they remain attractive.

In short, climate change is also opening the door to a new era for mountain resorts. Rather than seeing their attractiveness collapse, well-positioned resorts take the lead in innovating and positioning themselves as destinations adapted to climate changes.

The rarity of the offer combined with new tourist and residential accommodation prospects in altitude, stimulates a dynamic real estate market.

Investing in a mountain resort is therefore betting on a future where the mountains will not only be a place for recreation, but also a sought after heven of peace and freshness in a world where temperatures will continue to rise.