Property in French Alpine resorts is continuing to grow in value, it has been reported.

Ascendant Property has told Property Wire that new figures show that resale apartment prices in the first quarter of 2008 in the Haute-Savoie region were up over three per cent and in Annency the rise was 2.5 per cent.

It also noted that in top resorts prices had soared, with rises of 13.8 per cent in Le Grand Bornand, nearly 10.9 per cent at Morzine, 8.9 per cent in Chamonix and 7.5 per cent in Megeve.

The website stated that the reasons these prices have risen are that the banks have protected the property market from any boom and bust situation by stricter lending criteria and larger deposits, while there is a shortage of supply in Alpine property.

Another factor that may bolster France’s property industry, including the tourism sector, is the transport improvement that will come with the expansion of its high-speed TGV train system.

France’s government has announced plans to more than double the size of the current network by 2020.

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