Housing Crisis: When Locals Can't Afford Home

Perhaps no issue generates more anger than housing. Chamonix's real estate market has disconnected entirely from local earnings, creating a situation where essential workers—teachers, nurses, guides, shop assistants—cannot afford to live in the community they serve.

The mathematics are brutal: average property prices exceed €10,000 per square meter. A modest two-bedroom apartment costs €800,000. Meanwhile, median local salaries hover around €2,000 monthly. Even dual-income professional families find purchasing impossible. Rental markets offer no relief—the few available properties command Parisian prices.

Second homes dominate the market, comprising over 60% of housing stock. These properties sit empty most of the year, creating ghost neighborhoods devoid of community life. Lights shine in perhaps one window per ten during shoulder seasons. Schools struggle with enrollment as families flee down valley. Local businesses can't find year-round customers.

"We're creating a valley of commuters," warns urban planner Dr. Fatima Sahli. "Essential workers live 45 minutes away in Sallanches or further. They spend hours commuting to serve tourists in a place they can't afford to inhabit. That's not sustainable economically or socially."

Short-term rentals exacerbate the crisis. Properties that once housed locals year-round now generate more profit from weekly tourist rentals. Airbnb listings multiply despite regulatory attempts. Every apartment converted to tourist accommodation represents another local family forced to leave.

Recent policy interventions show limited success. Requirements that new developments include affordable housing quotas help marginally. Restrictions on tourist rentals face enforcement challenges. Empty home taxes encourage some owners to rent properties but not at affordable rates. The fundamental problem—that global capital treats Chamonix real estate as investment vehicles rather than homes—remains unaddressed.