Gross rental yields on a French Alps ski chalet are typically around 3.5-6%, with prime Courchevel product occasionally reaching 5-7%. Net yield is usually 1 to 1.5 points lower once charges and management are deducted, and lower still — often 2-3.5% — if you keep weeks for personal use. A leaseback (résidence de tourisme) arrangement trades flexibility for a fixed 2-5% return. Always separate gross from net, because the two are frequently conflated. These figures are directional and must be modelled for the specific chalet, resort and rental calendar with a local manager before you rely on them.
Gross vs net — the classic trap
The single most common error in Alps rental maths is quoting a gross yield as if it were net. Gross yield is annual rent over price; net yield subtracts the real costs of earning that rent — management and letting commission, cleaning and linen, utilities, insurance, co-ownership charges and maintenance. On a chalet those costs are significant, which is why net typically lands 1 to 1.5 points below gross.
| Scenario | Yield (directional) |
|---|---|
| Gross, typical Alps chalet | ~3.5-6% |
| Gross, prime Courchevel product | up to ~5-7% |
| Net, after charges & management | ~1-1.5 pts below gross |
| Net, with partial personal use | ~2-3.5% |
| Leaseback (fixed) | ~2-5% |
Directional market ranges, not a promise. Actual yield depends on the specific chalet, resort, altitude, management and rental calendar — model it individually with a local manager.
The personal-use drag and the leaseback alternative
Every week you keep for yourself is a week not earning rent, and owners naturally want the best weeks — which are also the highest-earning ones. Blocking peak season for personal use is the quiet reason many chalets underperform their theoretical yield, pulling the net figure down toward 2-3.5%.
A leaseback (résidence de tourisme) flips the model: you hand management to an operator in exchange for a contractually fixed return, typically 2-5%, and often limited personal-use weeks. It trades flexibility and upside for predictability, and it usually pairs with the para-hôtelier VAT reclaim covered in our VAT question.
What drives the real number
Location within the resort is decisive: ski-in/ski-out access, altitude and snow reliability, proximity to the village, and the quality and management of the chalet all move the achievable rent. A prestige address like Courchevel 1850 can command premium weekly rates, but high purchase prices can still compress the yield percentage.
Treat every headline yield as directional and demand a net, cost-loaded model for the specific property. A good local managing agent will give you realistic occupancy and rate assumptions; anything from a sales brochure should be pressure-tested before it informs a purchase.
Sources
Primary and expert sources behind this answer:
- notaires.fr — Conseil supérieur du notariat (buying costs, capital gains, succession) ↗
- GADAIT — French Alps Property Market Report 2026 ↗
This page is general information, not legal or tax advice. French property tax, inheritance and residency rules are complex and change frequently; every figure and rule here must be confirmed with a French notaire, a tax adviser (fiscaliste) or a lawyer for your specific situation before you act.
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