Investing in rental property in Annecy in 2026
In short
Annecy is one of France's most expensive markets outside Paris: around €5,600/m² in the older stock, up to €7,800/m² by the lake. Gross yield runs at roughly 3% to 4%, and the market has been flat for a year. Tourist lets, long the natural workaround, now face the region's strictest rules: quotas by zone, one authorisation per owner, four years with no automatic renewal. The ranges below are orders of magnitude — cross-check them against official data before any decision.
The rental market in Annecy
Below are order-of-magnitude ranges for Annecy. They are indicative and must be cross-checked against official data (DVF, ANIL rent observatory) before any decision.
| Metric | Indicative range (order of magnitude) |
|---|---|
| Purchase price (existing stock) | 3,900 – 7,500 €/m² |
| Rent (incl. charges) | 15 – 21 €/m² |
| Gross yield | 3 – 4.5 % |
| Population (approx.) | ≈ 132 000 inhabitants |
The city-wide average sits at around 5,600 €/m² for existing stock. The purchase-price range above is wider because it spans every neighbourhood, from the most affordable to the city centre — read it as the spread between areas, not as a bracket around the average.
Reference neighbourhoods
Within Annecy, prices and yields vary widely from one area to another. A few reference points:
- Annecy-le-Vieux – Albigny / lakeside — the most expensive and most liquid segment, heritage buyers
- Old Town / historic centre – Bonlieu — the tourist heart, hence the heart of the tourist-let clampdown
- Annecy-le-Vieux – Glaisins / Clarines — IUT-Polytech campus and business park, student and executive demand
- Pringy — north of the conurbation, pulled up by the Pré-Billy eco-district new-builds
- Gare / Galbert / Quartier Sud — good price-to-centrality balance, workers and cross-border commuters
- Parc des Sports / Fier — 1960s-80s residential stock, significant energy-renovation potential
- Les Fins — east of the city, mid-range market, sources diverge by 15%
- Seynod — residential family district, good rent-to-price ratio
- Meythet — the most affordable well-served area, close to employment zones
- Cran-Gevrier / Novel – Les Teppes — the conurbation's highest yields, street-by-street selection required
Indicative prices by neighbourhood in Annecy
A city-wide range hides the gap between the centre and the outskirts. Below, indicative price ranges per neighbourhood, from the most expensive to the most affordable.
| Neighbourhood | Indicative price €/m² | Profile |
|---|---|---|
| Annecy-le-Vieux – Albigny / lakeside | 6,400 – 7,500 €/m² | the most expensive and most liquid segment, heritage buyers |
| Old Town / historic centre – Bonlieu | 6,300 – 7,400 €/m² | the tourist heart, hence the heart of the tourist-let clampdown |
| Annecy-le-Vieux – Glaisins / Clarines | 5,800 – 6,900 €/m² | IUT-Polytech campus and business park, student and executive demand |
| Pringy | 5,400 – 6,300 €/m² | north of the conurbation, pulled up by the Pré-Billy eco-district new-builds |
| Gare / Galbert / Quartier Sud | 5,300 – 6,200 €/m² | good price-to-centrality balance, workers and cross-border commuters |
| Parc des Sports / Fier | 4,800 – 5,600 €/m² | 1960s-80s residential stock, significant energy-renovation potential |
| Les Fins | 4,300 – 5,000 €/m² | east of the city, mid-range market, sources diverge by 15% |
| Seynod | 4,100 – 4,800 €/m² | residential family district, good rent-to-price ratio |
| Meythet | 4,100 – 4,800 €/m² | the most affordable well-served area, close to employment zones |
| Cran-Gevrier / Novel – Les Teppes | 3,900 – 4,800 €/m² | the conurbation's highest yields, street-by-street selection required |
Source: MeilleursAgents, flat estimates as at 1 May 2026. Median price per neighbourhood widened by ±8% and rounded, to be read as an indicative range and never as a valuation. Actual prices vary by street, floor, condition and energy rating. To be cross-checked against DVF data before any decision.
The strongest rental markets in Annecy
Annecy is a capitalisation market. Yield is built here by district selection and by refusing optimistic assumptions. Here are the real segments and the regulatory framework, which is the dominant variable.
An expensive market, now flat
At around €5,600/m² in the older stock, Annecy sits in the national top tier. Calculated gross yield runs from 3.1% on the occupied stock to 3.9% at market re-letting terms, and falls to 2.6% on a large lakeside flat. Another point to absorb: the upswing is over. The five sources consulted give between −0.2% and +0.9% over twelve months, after roughly +10% in five years — an annual pace below inflation over the period. A ten- or twenty-year projection on this market should be tested at 0% and 1% appreciation, not only at 2%.
Employment: industry, outdoor and the cross-border effect
Annecy concentrates 74,698 jobs for 132,000 inhabitants (INSEE 2022): a net employment hub, with 8.9% unemployment. The fabric combines mechatronics industry (NTN Europe, around 2,800 employees, the largest industrial employer in Haute-Savoie and Savoie), food processing (Entremont), outdoor with Salomon's head office, and animation with Ubisoft Annecy and the animated film festival. Add the cross-border effect: more than 115,000 French workers commute to Geneva every day. At 40 km, Annecy benefits indirectly, through spillover from the French Genevois — the effect is clearest in the north of the conurbation, around Pringy and Metz-Tessy.
Students: real but concentrated demand
The Annecy campus of Université Savoie Mont Blanc hosts 4,855 students, around 2,800 of them at the Annecy IUT, based in Annecy-le-Vieux. Student demand therefore concentrates on Annecy-le-Vieux (Glaisins, Clarines), but prices there are high: the most favourable trade-off is in Novel-Les Teppes and Cran-Gevrier, at €4,000-4,800/m² with decent transport to the campus. LMNP is the standard regime on this segment. Enrolment at the city's other institutions is not consolidated publicly: the local student market is real but mid-sized.
Tourist lets: the strictest regime in this guide
The Grand Annecy regulation, in force since 1 June 2025, governs change of use across 27 municipalities including Annecy. A temporary authorisation is mandatory, valid four years, limited to one per owner in Annecy. Quotas apply by zone: 460 authorisations in zone A (city centre), 1,000 in zone B (lakeside, inside the ring road, station), 1,200 in zone C — 2,660 in total. A second home needs authorisation from the first day of letting; a main residence from the 121st day. An energy rating of A to E is required. Penalties reach €100,000 per dwelling. The regulation was challenged in court and upheld: the Grenoble administrative court rejected the appeals in May 2025. The scheme is therefore legally consolidated, and a four-year authorisation creates a genuine exit risk at term. Note that, unlike the Basque Country, Annecy works through quotas and imposes no compensation mechanism.
Regulatory framework: tight-market zone, no per-m² cap
Annecy is classified as a tight-market zone: tenant notice reduced to one month, vacant-housing tax applicable, and a cap on rent increases at re-letting — the rent cannot exceed the previous tenant's rent adjusted by the IRL index, except in cases of manifest undervaluation, capped at 50% of the gap, or works, capped at 15% of their cost. The previous tenant's rent must be stated in the new lease. By contrast, there is no per-m² rent cap in Annecy: no reference rent, unlike Lyon or Grenoble. One last point: homes rated F and G cannot have their rent revised at all, and the 1960s-80s apartment stock — precisely the one with the most attractive yields — is the most exposed to the energy-rating timetable.
These reference points are an analysis and a decision-making aid, for information only. They replace neither the net-net yield calculation for a specific property, nor the support of a professional (chartered accountant, notary).
What net yield can you expect?
The gross yield is only a starting point. The net yield (after running costs) and the net-net yield (after tax) are what actually matter — and they depend on your tax regime, not on the city.
The right regime depends on your situation: bare or furnished letting, rent level, presence of a loan. RentValo compares every applicable regime for your property and shows the most advantageous one.
Renting out furnished property in Annecy? The first tax decision is micro-BIC versus the real regime: our free LMNP simulator compares both regimes on your own figures in under a minute.
FAQ
What rental yield can you expect in Annecy?
As an order of magnitude, gross yield sits in an indicative range of 3% to 4.5%: around 2.6% on a large lakeside or city-centre flat, 3.1% to 3.9% city-wide depending on whether you use occupied-stock rents or re-letting rents, and up to 5.5% on a studio in Cran-Gevrier or Novel-Les Teppes. After acquisition costs, running costs and tax, almost all fully financed unfurnished lets generate a monthly savings effort.
Can you still run a tourist let in Annecy?
Yes, but within a very tight framework. Since 1 June 2025, the Grand Annecy regulation requires a four-year temporary change-of-use authorisation, limited to one per owner, within quotas by zone — only 460 authorisations in the city centre. A second home is caught from the first day of letting, an A-to-E energy rating is required, and penalties reach €100,000 per dwelling. The regulation was upheld by the administrative court in May 2025. Year-round short-stay letting is no longer reproducible at scale in Annecy.
Which tax regime should you choose for a property in Annecy?
The tax regime does not depend on the city but on your situation: letting type (bare or furnished), rent amount, presence of a loan, level of costs. In a market where a monthly savings effort is common, depreciation under the LMNP actual-expenses regime and the déficit foncier on unfurnished lets with works are the two levers most often examined. The 1960s-80s apartment stock usually requires an energy-renovation budget to be provisioned. RentValo compares every applicable regime and quantifies the gap for your specific project.
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