With demand for international ski property riding high, a “building boom” is currently taking place in the French Alps.
Resorts with new developments
Popular resorts with new developments available in the Northern French Alps through specialist Erna Low Property, include Morzine, Les Gets, Combloux, Megeve, Chatel, St Gervais and Chamonix.
James Ross, Sales Director at Erna Low Property, says, “A building boom is currently taking place across the French Alps. In Les Gets, for example, partly due to a pause on building from the 1st January 2019 for a year, a number of developers have rushed forward developments and planning and we currently have seven developments for sale here. One of our stand-out properties in Les Gets is Le Vieux Chêne.”
Close to Geneva Airport
All the developments are within an hour or so of Geneva Airport and provide great investment opportunities in resorts with year-round appeal, says Mr Ross.
Switzerland’s second busiest airport expects flight movements will rise by almost a quarter by 2030. Geneva predicts traffic will increase from 191,000 aircraft movements and 17.3 million passengers in 2017 to 236,000 movements and 25 million passengers by 2030.
Les 3Sophie, at the base of the Morzine – Avoriaz gondola, Les Prodains, features one to three-bed apartments from €119,900. It is ideally positioned to take advantage of the Portes du Soleil’s 600km of pistes.
Value for money
The development, in three chalet-style buildings, consists of just 21 apartments and offers value for money, says James Ross. “Les 3Sophies is what Morzine has been waiting for, combining quality finishes and skiing to the doorstep, all for under €6,000 per square metre, instead on €9,000 per square metre in Morzine centre.
“With the opportunity to purchase a two-bedroom apartment for as little as €334,167, including parking, storage cave, ski locker and furniture, there is nothing to match Les 3Sophie in the valley as an investment.” Three-bed apartments are currently priced at less than €615,000.
Investors can also take advantage of a hassle-free, tax-efficient leaseback/managed arrangement. This allows owners to receive 75% of the net profits – income tax-free – on the rent generated as well as having freedom over personal usage.
“As the price per square metre is so competitive, yields at Les 3Sophie are expected to be especially high due to its design, location and access to the main ski lift of Morzine. For those who do not wish to rent their property then they can simply purchase the property as a second home and perhaps live in their piece of the Alps if they so desired.”
€35 million lift investment
The mayor of Morzine has recently announced Project Morzine-Avoriaz 2020, which will bring a €35 million investment into a lift system from Morzine town centre to the base of the apartments at Les 3Sophie, running straight up to Avoriaz. This allows owners and their guests a continuous link to the centre of Morzine. Alternatively, there is a regular bus service in the resort, which can drop owners at the development.
The furnished apartments are equipped to the highest standard and there is also the opportunity for buyers to personalise their new mountain home with direct collaboration with the architect.
Le Vieux Chene
Le Vieux Chene, at Les Gets, includes one to four-bedroom apartments from €427,000. They are in a traditionally-designed, cosy mountain lodge, in a prestigious location at the heart of the resort, near the ski slopes and village amenities.
Stone and wood design
The 25 apartments feature attractive stone and wood-based designs. Owners can also personalise their apartments with the fabrics, colours, lighting and furniture.
With the town’s restaurants, shops and ski lifts all a stone’s throw away, Erna Low Property cites Le Vieux Chêne as a great investment. French mortgages as low as 1.7% fixed for 20 years are available.