Don’t dismiss owning your own ski property as a pipe dream. Look closer and, as well as being very cool, it might just be the most sensible investment you could make.
Alps property agent Leggett has seen Tignes, Val d’Isere and Paradiski enjoying a renaissance as the hot destination for investors. English now make up to half of all holidaymakers in some resorts, and once they arrive they can’t help but fall in love with their surroundings. But it’s certainly not just the heart that’s leading them to hand over their hard-earned cash – an investment in a ski chalet or other ski property is definitely made with the head too.
It’s rare that new land to build on becomes available in the ski resorts of Tignes, Val d’Isere and Paradiski and that keeps the value of existing property high.
Prices in Tignes range from €3500 to €7000 per square metre, and in Val d’Isere you can find chalets for sale for up to €20,000 per square metre. New builds like the eco development Tignes 1800 offer a great chance to bag your own piece of the Alps. Leggett offer properties ranging from studio apartments to luxury ski chalets in the Espace Killy.
In Paradiski, larger 2 or 3-bed apartments in resort, costing €170,000 to €300,000, are snapped up but further down the valley you can get a lot more for your money. Leggett agent David Cowx says: “There has definitely been some movement towards buying in the valley, where life goes on all year round. Montchavin Les Coches and Montalbert have an appeal; they’re an easy 15-20 minute drive from resort and have the charm factor.” Leggett offer properties ranging from studio apartments to luxury ski chalets in Paradiski.
Check their website www.leggettski.com.
As the climate changes, clever investors are buying higher for long-term ski property investment. For some buyers the most important thing is guaranteed, convenient skiing – for their own enjoyment and to make the most of rental income. That makes resorts that have guaranteed snow, like Tignes and Val d’Isere, Les Arcs and La Plagne, with their exceptionally high altitude and glaciers, even more attractive.
The more resorts invest in their facilities and infrastructure, the more people want to invest their own money into the area. The Espace Killy is seeing a huge amount of development. The investment of €16m in redeveloping the Val d’Isere Solaise cable car for November 2016, and plans to build more hotels, chalets and housing in the resort centre and La Daille will also keep demand high.
In Tignes, many more lift improvements are planned for the Grande Motte cable car, the connections from Brevieres to Boisses, and the Marais and Chaudannes chairlifts. Several new hotel and training facility projects are also in the pipeline.
Paradiski is also seeing a huge amount of development. Lift systems are constantly being improved and updated – this year’s coup is the opening of the state-of-the-art Montalbert gondola. Paradiski is still benefitting from its investment in the revolutionary Vanoise Express 12 years ago, linking 425km of pistes to make it one of the largest ski areas in the world. The development of the industry-leading Mille8 ski/leisure centre and the Edenarc accommodation hub in Les Arcs has kept interest in the area high.
Despite falling back slightly at the end of summer, Brits can still get many more euros for their pound than they could a year ago. At the start of September the £1/€1.35 exchange rate meant a €300,000 ski property was about £17,000 cheaper than the previous year.
BUILD YOUR OWN
Read our article about building your own ski chalet using eco-friendly SIPS panels – and how it could save you money!
|Be smart with your money transfers by using the new rate watch on the Currencies Direct website (www.currenciesdirect.com). It will alert you when the exchange rate falls so you can lock it in with a 10% deposit for up to 12 months, allowing you time to find the perfect property with your budget set.|