Second Homes in Haute-Savoie: A Dream That’s Getting More Expensive?

Buying a second home in the French Geneva area (between Annemasse, Saint-Julien-en- Genevois, Archamps, or Reignier) has long been an attractive investment: exceptional quality of life, proximity to Geneva, and the possibility of generating rental income. Depending on the town and the age of the property, prices range from 3 500€ to 5 000€/m² for older homes, and up to 6 500€/m² for new builds, reflecting the region’s strong appeal.

In recent years, the equation has become more complex, and the 2025 Finance Law introduces

new constraints, particularly for investors considering furnished rentals.

Furnished Rentals and LMNP :

Until 2025, the Loueur Meublé Non Professionnel (LMNP) status allowed investors to deduct property depreciation (excluding land) to reduce or even eliminate tax on rental income. Since 2025, when selling the property, these previous depreciation deductions must be added back to the capital gains calculation. The result: often higher taxes than expected and the need to rethink your investment strategy. Some properties are exempt from this reform, such as managed residences (student, senior, or disability housing), but they are rare around Annemasse. LMNP remains useful for those planning to keep their property long-term or who choose not to amortize.

Other Rental Models :

Other options exist: traditional long-term rentals, shared rentals (colocation), or short-term vacation rentals through specialized platforms. Each has advantages in terms of taxation, flexibility, and potential returns, though short-term rentals are increasingly regulated by local authorities.

The French Geneva Area Remains Attractive :

Despite these fiscal changes, some fundamentals remain:

• Proximity to Geneva continues to drive rental demand.

• Supply remains very tight, with limited available land.

• Rental income remains high, with rents reaching 1 100€ to 1 300€/month for a well- located one-bedroom apartment (T2) in Annemasse or Saint-Julien, before any rent controls.

Buying a second home in the French Geneva area remains a sound investment, provided you clarify your objectives: personal use, long-term rental investment, or seasonal rental.

valang consulting supports second home and rental investment projects around Annemasse,

ensuring every step is secure from start to finish.