Tram des Nations Ferney-Voltaire: what it will change for property prices

Let's start with the hard facts, because many people have a vague idea of the project without knowing the exact route.
The Tram des Nations will be the future line 13 of the TPG (Transports Publics Genevois) network. It extends the existing line from the Place des Nations to the Bisou crossroads, in Ferney-Voltaire, via Grand-Saconnex, the customs office, and the new districts of the Ferney-Geneva Innovation ZAC.

The route includes 10 stations in total: 7 in Switzerland, 3 in France. On the French side, the three stops will be located at La Poterie (in the future business park around the Hotspot building), La Tire (in the new residential district of Paimboeuf), and at the Bisou terminus, where a 200-space park-and-ride facility (extendable to 500) and a 100-space bike station are planned. The tram will cross the A1 motorway via a new bridge dedicated to public transport and soft mobility, with a stop at the airport's future P+R 47 – which also makes it a direct connection tool with Geneva-Cointrin airport.

The estimated travel time between the terminus of Le Bisou and the Place des Nations is 16 minutes. Between Le Bisou and Cornavin station, it will take 24 minutes, without changing trains from Ferney.
During peak hours, the tram will run with a maximum frequency of 6 minutes. Combined with bus lines 60, 61 and 66, the total transport capacity at peak times will increase from 1,400 to 3,800 people per hour and per direction at the Ferney-Voltaire customs. In other words: we go from 1 bus every 4 minutes to 1 vehicle every 2 minutes 40 seconds in each direction.

For cross-border commuters who now make the journey by car — and they still account for 85% of trips from the Pays de Gex to Switzerland — this is a potentially massive change in use.

This is the question that everyone is asking, and the honest answer is: yes, but not uniformly, and not always when you expect it.

There are many studies on the effect of structuring public transport on real estate and their conclusions converge on a few trends. The arrival of a new tram or metro line generally causes an increase in the value of properties located within a radius of 500 meters to 1 kilometer from the stations — a range that varies according to urban density and the existing supply. Average estimates in the French context are around 3 to 8% more valuation compared to comparable properties outside the area of influence.

But what is even more interesting is the moment when this valuation occurs: in the vast majority of cases, it is partly anticipated by the market as soon as the project is officially announced, and gradually increases as the work progresses. It is not at commissioning that prices jump, it is often two or three years before.

In the case of Ferney-Voltaire, the project has been known for a long time — the first consultations date back several years — but the official start of work on the Swiss side in September 2025 marked a real psychological turning point for local market players.

The data available for the beginning of 2026 show a tense Ferneysian market, with an average new property price of around €5,160/m², and a theoretical land price estimated at between €1,000 and €1,500/m² of floor area on building land. Seven major projects representing 446 housing units have recently been granted permits, the majority of which are concentrated in the Ferney-Genève Innovation ZAC — exactly the perimeter crossed by the future tramway.

Convergence is not a coincidence. The ZAC Innovation and the tram were designed together from the start. It is in this new district that the tram will stop at La Tire and La Poterie, and it is there that most of the new production in Ferney-Voltaire for the next few years is concentrated.

This is the most practical question, and it deserves a precise geographical answer rather than a generality.

Unsurprisingly, Ferney-Voltaire is the municipality that will benefit most directly from the tram. But within Ferney itself, not all districts are in the same boat.

The sectors closest to the three stops — the Poterie area, the Paimboeuf district around the La Tire stop, and the surroundings of the Bisou crossroads — will benefit from an effect of immediate proximity. The new programs currently being marketed in the Innovation ZAC (Morpho, Neo-Patio, Impulsion residences, etc.) are directly within this perimeter and already include the value of the tram in their price positioning.

For old properties in these areas, the question is rather whether their current price already fully anticipates this valuation, or whether there is still a margin. Our field analysis suggests that the part is partially integrated into prices — particularly for new buildings — but that old properties in the streets near the stops are still undervalued compared to the 2028-2030 potential.

The historic centre of Ferney-Voltaire is further away from the stops (the Bisou terminus is about 500 metres from the Town Hall), but will indirectly benefit from the overall improvement in the image and attractiveness of the town.

The experience of other territories shows this: when a municipality gains in accessibility, prices rise, but neighbouring municipalities that are a little more accessible to the stock market also benefit — buyers who are pushed back by Ferney's prices logically switch to Ornex, Prévessin or Versonnex, which remain 5-10 minutes from the future terminus by car or bicycle.

This shift in demand is already noticeable on the Pays de Gex market, and it will probably increase as Ferney-Voltaire gains in attractiveness and price. These municipalities are to be monitored for purchasing strategies with increasing value.

Further away from the tram route, these municipalities will benefit less from a direct effect. On the other hand, the improvement of the overall image of the Pays de Gex as a territory well served from Geneva may work in their favour in the long term. Saint-Genis-Pouilly remains above all enhanced by the proximity of CERN and its own TPG connections — which is a structural asset independent of the tram.

This is probably the most common question we receive right now at the agency.

The most interesting window from the point of view of anticipation is generally the period between the start of the work and the commissioning — i.e., in the case of the Tram des Nations, between now and the end of 2028. Historically, it is during this phase that the best-informed buyers position themselves, before the valuation is fully reflected in the asking prices.
That said, two important nuances are necessary.

First of all, the Ferneysian market is not illegible: sellers are also familiar with the tram project and real estate operators market their programmes by integrating it into their arguments. Part of the expected valuation is therefore already in prices, especially on new builds.

Secondly, the works phase itself can create temporary tensions in certain sectors: noise pollution, traffic disruptions, feeling of temporary deterioration of the living environment. For properties close to the construction site, this can create opportunities to buy at a negotiated price that patient buyers will be able to identify.

What it changes for rental investors

For an investor who is currently positioned in the ZAC Innovation sector or near future stops, the reasoning is twofold: on the one hand, rental demand is already very strong (the market is in Zone A, with a very low vacancy rate), and it will be reinforced by the arrival of the tram which will attract cross-border commuters without cars, employees of international organizations, and families seeking to reduce their car expenses. On the other hand, the valuation of the capital invested in the 3 to 5 years following commissioning should be well oriented, even if it is never guaranteed.

Talking about a structuring project without mentioning the risks would not be honest. Several elements deserve special attention.

On the Swiss side, work began in September 2025. On the French side, archaeological excavations and network diversions began in early 2026, and the main work will arrive in January 2027. For properties directly bordering the route — particularly on the axis of the Allée de la Tire and around the customs — the period 2025-2028 may be uncomfortable. This is not necessarily a bad thing for a buyer: a property that is slightly discounted due to the construction site, well located in relation to future shutdowns, can represent a real opportunity.

The development of the Ferney-Genève Innovation ZAC will inject several hundred new homes into the Ferneysian market in the coming years. This increase in supply could moderate the rise in new property prices in the short term, even if demand remains structurally strong. The old market is not directly exposed to this competition.

Major infrastructure projects have a historical trend of delays. Even if the current schedule is well kept (the Swiss works have started on schedule), the commissioning of December 2028 remains to be confirmed. Buyers who would base a strategy solely on this specific date are taking a timetable risk to take into account.