Strong Pound encourages British buyers in French Alps, it is claimed
13-06-2012
 |
MGM says that the popularity of the Grand Massif area of the French Alps, offering year round holidays in traditional working towns and villages like Samoëns, Les Carroz d’Araches and Châtel, has put the region at the top of the league table for the sale of ski properties in France.
Its London office has found that British buyers in particular are increasingly interested. ‘For a long time we have felt there was a lot of pent-up demand but that British buyers were reluctant to commit themselves when the Sterling/Euro exchange rate was so poor. When it returned to 1.2 earlier this year, the brakes came off,’ explained Richard Deans from the London team.
‘British buyers are regarding the properties they can buy in the French Alps as better value for money than they perceived a couple of years ago and they are acting accordingly,’ he added.
He also pointed out that access to Euro mortgages is helping and the team expects the strong demand for French Alpine properties to continue, possibly with a further boost later in the year if the exchange rate improves further, moving to 1.3 as many experts predict.
The picturesque village of Châtel on the French Swiss border has proved to be one of the most popular locations with this year’s buyers. The family friendly village is 90 minutes by road from Geneva Airport and forms part of the world’s largest international linked ski area, the Portes du Soleil with 650 kilometres of slopes covering eight French ski resorts and four in Switzerland.
But it is also well known for its summer attractions. At this time of year, the 85 kilometres of streams and rivers in the nearby Abondance valley attract fishing enthusiasts who catch the wild fario or Mediterranean trout which has adapted to mountain waters.
MGM’s new development in Châtel is a résidence de tourisme, Les Chalets d’Angèle, which is being built in response to demand for year round holiday accommodation from people who love the outdoor life.
The 73 apartments in the first phase of the development will be ready for occupation later this year and owners will have use of all the four star facilities including an indoor pool, fitness suite, gym, sauna, jacuzzi and steam rooms. An OdesCimes spa will have a variety of massages and treatments on offer.
High demand for the apartments built by MGM in of eight earlier schemes in the French ski resort of Les Carroz d’Araches, a traditional farming village, has prompted the company to build a ninth one, Le Chalet des Belles Pistes, a four star résidence de tourisme. It will be ready for occupation before Christmas this year.
Nursery slopes on its doorstep were among attractions for Buckinghamshire couple Fiona White, 45, and her husband Russell, 47, when they decided to buy one of the two bedroom leaseback apartments.
‘Our five year old daughter Olivia is keen on skiing and as our new apartment will be close to the nursery slopes as well as the shops and restaurants in the village, it will suit us perfectly,’ said Fiona.
Current prices, which start at €223,000 and include secure underground storage and car parking, but exclude French VAT at 19.6% which is waived under the leaseback scheme.
In addition to its Grand Massif developments in Samoëns, Les Carroz d’Araches, Châtel, St Martin de Belleville and Flaine, MGM has properties available to buy in around 20 other mountain locations at prices ranging from €174,000 to more than €1.5 million, depending on property size and location.
