A French property developer has reported a surge in demand for its Alpine properties after selling more to overseas buyers in the first four months of this year than during the whole of 2011.
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.
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