MGM French Properties, the leading ski residential developer in the French Alps, has reported its busiest and most successful start to the year, with increased activity in the first quarter resulting in 50% more sales at this early stage compared with previous years. The developer’s success has been bolstered by stock of highly desirable outright purchase properties available in a selection of top ski resorts, helping MGM achieve growth despite looming Brexit.
Richard Deans, sales manager at MGM French Properties said, “There is a real appetite for the Alps at the moment, and we are thrilled to see the market pick up, especially in the months leading up to Brexit. All our most recent buyers are British and they are bucking the trend of taking precautions during these uncertain times. Instead they are taking advantage of the low-interest rates to purchase fantastic properties in world-class ski locations.”
While the selection of resorts and unique positioning of MGM’s developments has been key to attracting buyers, it is also the calibre of outright purchase stock which has driven the sales success. Deans continues: “There has been a real shift in interest from leaseback to outright properties, with 90% of the units sold in the last three months have been outright. We’ve seen that in the current climate, clients value flexibility over convenience and being tied to a long-term contract. Perhaps when the political dust settles, we will see interest in leaseback increase when confidence in the market returns.”
The ski resorts which have been the most popular with MGM buyers include British favourite Sainte-Foy Tarentaise, the high-altitude and sporty Tignes, the year-round destination of Samoëns in the Grand Massif and family-friendly Les Houches in the Chamonix Valley.
Sainte-Foy Tarentaise is a hidden gem that offers tranquil slopes and unrivalled off-piste routes in a natural setting. The youngest of the Haute-Tarentaise resorts, development began just over two decades ago with MGM contributing significantly to the growth of this boutique resort. Les Fermes d’Eugenie is MGM’s latest addition to Sainte-Foy, offering 48 ski-in apartments which are centrally located for immediate access to the shops and slopes. The properties will provide residents with the best of Sainte-Foy at their doorstep and are available for outright purchase starting from €260,000, Les Fermes d’Eugenie is due to complete by Christmas 2021.
Renowned for its sporting reputation and with a high point of 3,456m, Tignes is one of the most snow-sure winter destinations in France. Le Lodge des Neiges (‘The Snow Lodge’) is a spectacular ski-in-ski-out development, located in a prime position above the Tignes 1800 gondola. Each apartment will benefit from an exclusive 1,000m² spa and recreational facility, which includes a swimming pool, children’s paddling pool, private gymnasium featuring the most up-to-date equipment, full spa facilities including a sauna, steam room, hammam and treatment rooms. Prices start from €315,000 for a one-bedroom apartment to €715,000 for a four-bedroom apartment.
Located in the heart of the Grand Massif, Samoëns enjoys all that the pristine and preserved natural environment has to offer in both the summer and winter seasons. At an altitude of 1600 metres, the Samoëns ski area enjoys quality regular snow coverage and is renowned for its spring skiing. Chalet Saskya is a boutique residence of 12 apartments ranging from one to four bedrooms. Situated next to the gondola station, the Grand Massif Express, the homes enjoy easy access to the pistes and breathtaking views of the surrounding area. Prices at Chalet Saskya start from €440,000 and will be ready to move in from Christmas 2019.
Les Houches is an idyllic resort for families looking for a place to teach young children to ski, while still enjoying the challenging slopes of exclusive Chamonix valley. Chalet Délys comprises ten luxurious apartments located just 200 metres from the Prarion Gondola, and within easy distance of the Bellevue ski lift.
The outright purchase homes come unfurnished, but with a fully-fitted kitchen and bathroom, allowing the perfect opportunity for the purchaser to put their personality into the interiors. Each apartment comes with a large private balcony or terrace which will offer fantastic views of the Mont-Blanc mountain range. MGM can also assist in recommending local property management companies. The prices for the apartments start at €340,000 for a two-bedroom home, ranging up to €635,000 for a four-bedroom home