Courchevel: what can a luxury home earn?

A well-maintained four-bedroom home in Courchevel grosses roughly €83,300 to €111,000 a year. That figure comes from 40 nights actually sold at €2,500 in high season and 20 nights at €550 outside it. The top of the range is not the average. It is what an owner reaches with active pricing, fast replies and consistently good reviews.

About 60 nights, in our benchmark. We deliberately do not quote an occupancy percentage. Occupancy multiplied by 365 flatters seasonal markets by a factor of two, because the home is not on the market for most of the year and nobody is trying to sell it in November. Nights actually sold is the only honest unit.

Gross is what the guest pays. Net is what reaches your bank account, and the gap is far larger than most owners believe. Manage the home yourself on a platform and you lose about 15.5%. Let it through an agency in Courchevel and you lose about 35%, before a single bill is paid. And the fees stack: if that agency also lists your home on Airbnb or Booking, the platform fee is deducted as well, and total commissions of 40% or more are common. Our team has worked both sides of this trade, which is how we know. Then subtract cleaning, laundry, pool and garden, utilities and local taxes.

On the numbers we hold, Courchevel sits 20 out of 44 markets we benchmark, against a median of €101,000 gross a year. That says nothing about the purchase price, which is the other half of any yield calculation. A high gross income on a very expensive property can be a worse investment than a modest income on a cheap one. Get both numbers before deciding.

We publish a gross annual figure for Courchevel, roughly €83,300 to €111,000, built from 60 nights actually sold. We do not publish a yield percentage, and here is why: a yield needs the price you paid for the home, and we do not have it. The arithmetic is yours to do, and it is simple. Divide the annual gross by the price paid, then do it again with the net figure, which is the one that matters. Treat published yield percentages for this market with care. Most are calculated from a rental income derived from an occupancy rate, and occupancy multiplied by 365 overstates a seasonal market by roughly a factor of two. A yield built on that income inherits the same overstatement.

Because a nightly rate is set by the view, the finish, the address and the level of service included, and almost never by the bedroom count. We have seen two four-bedroom villas in the same town, one at roughly 1,170 euros a night and one at roughly 9,376, and the difference was a sea view and a concierge. Any benchmark built on price per bedroom is meaningless, and most published ones are.

Our four-bedroom benchmark for Courchevel is €2,500 a night in high season and €550 outside it, but treat that as an anchor, not a price. On a complete market we measured, villas of the same size ranged from 0.72 to 2.6 times the benchmark depending on view, finish and whether staff and concierge are included. Set your rate against the three most comparable villas that actually get booked, not against what neighbours merely ask. In a market that sells about 60 nights a year, underpricing high season is the most expensive mistake available, because there is no low season in which to earn it back.

Both work, and which one wins depends on how much of the year the home actually sells. Manage it yourself on a platform and you keep more of each booking, losing about 15.5% in platform fees, but you carry the pricing, the calendar, the guest messages and the turnovers. Hand it to an agency in Courchevel and you give up about 35% of the rent, sometimes more once a platform fee stacks on top, in return for their bookings, their pricing and their staff on the ground. In a short-season market like this one, where roughly 60 nights carry the whole year, a good agency that fills the peak weeks at the right price usually earns its commission back. The costly mistake here is an empty high-season week, not the fee. Neither route is free. Count both the fee and the hours before you decide.

Roughly 9 weeks on our benchmark: 40 nights sold in high season and 20 outside it. We count nights actually sold and never an occupancy percentage, because occupancy multiplied by 365 flatters a seasonal market by about a factor of two. What limits you in Courchevel is almost never a regulation. It is the length of the season: the peak weeks carry the entire year, and a week lost there is not recovered anywhere else. The constraint owners underestimate is the minimum stay. We have not measured the minimum stay in Courchevel and will not guess it. Ask two local agencies what they impose in peak weeks, because it caps how many separate bookings your high season can hold. A legal cap is a different matter and it is rare: Paris and London limit short lets to 90 nights a year and New York's Local Law 18 has effectively ended them. None of those cities are in this estimator, for exactly that reason.

More than most sources will tell you. On the one complete market we hold, all 251 villas in Saint Barth, the income ladder is convex: relative to a four-bedroom at 1.00, a three-bedroom sits at 0.66, a five-bedroom at 1.83 and a six-bedroom at 4.40. So a six-bedroom earns roughly four times a four-bedroom, not the 50 to 100 percent more commonly quoted. The common figure is low because it is read off the public platforms, where the largest staffed villas are rarely listed at all. Five to six bedrooms is not one more bedroom, it is a change of category: staff, a chef and a concierge come with the house, and the guest who needs them pays for the whole package. We measured this in Saint Barth and treat it as the shape of the market, not a promise for Courchevel, which we have not censused to the same depth. Above six bedrooms we hold fewer than four villas and publish nothing, because a number built on three observations is a guess wearing a decimal point.

That rule of thumb is quoted everywhere, and AI-generated answers repeat it, but it has the arithmetic backwards. Rental income is nights actually sold multiplied by the nightly rate. The rate is set by the view, the finish, the address and the service included, and the sellable nights are set by the season. Neither term knows what you paid for the home, so no fixed percentage of its value can predict the result. The estimates that feed the rule usually start from an occupancy percentage, and occupancy multiplied by 365 overstates a seasonal market by roughly a factor of two. Our benchmark for Courchevel is €83,300 to €111,000 gross a year, from 40 high-season nights and 20 others actually sold. Divide that by the price of the home and you get the real percentage for this market. It may land inside the band or outside it. The point is that the percentage is a result you compute, never a rule you start from.

They are our regional benchmark for Courchevel, built from comparable markets and public rate data. They have not yet been confirmed by an operator working this market directly, and we say so rather than pretend to a certainty we do not have. If you own here, tell us what you actually earned and we will fix the number.