For sale €9m

Country Life Every Week - - Property News -

At 6,500 sq ft, this new-build, mega-chalet in Val d’isère has been de­signed for en­ter­tain­ing on a large scale. There are seven en-suite bed­rooms and a large gym with a swim­ming pool, sauna, ham­mam and mas­sage rooms, as well as an in­door climb­ing wall for white­out days. Sav­ills (00 33 688 02 37 47) in the next five years will re­sult in an 18-minute gon­dola ride link­ing the two re­sorts. By 2021, the to­tal ski area will mea­sure al­most 300 miles, mak­ing it larger than Es­pace Killy (Tignes & Val d’isère) and the Par­adiski ski area. ‘Be­fore they were linked and, in or­der to com­pete, both re­sorts de­vel­oped a great deal of year-round ac­tiv­i­ties to bring rev­enue into the area, so it’s very pop­u­lar for moun­tain bik­ing, road cy­cling, kayak­ing, raft­ing, climb­ing and trekking,’ says Heather. ‘Prices com­pare favourably to the big world-fa­mous re­sorts. The av­er­age price for a prime prop­erty in Alpe d’huez is about €6,500 per sq m,’ she adds.

The ele­phant in the Bri­tish sit­ting room is cur­rency. In the wake of the EU Ref­er­en­dum and the fall of ster­ling, Swiss Alpine prop­erty is 8.6% more costly for us and French and Aus­trian chalets are now 7.6% more ex­pen­sive than in May.

The ex­change rate is ‘para­mount’, says Jeremy. ‘It has a huge im­pact on buy­ing de­ci­sions.’ Al­though it’s too early in the sea­son to mea­sure the im­pact on Bri­tish buy­ers, he adds that the in­vi­ta­tion to ‘hedge’ against ster­ling by tak­ing out a mort­gage in Swiss Francs or Eu­ros plus in­ter­est rates, which are of­ten so low that it would be ‘al­most crim­i­nal not to bor­row money’, the team isn’t feel­ing too pes­simistic about the sea­son ahead. Plus, ac­cord­ing to Knight Frank’s net­work of Alpine of­fices, the mar­ket has widened— in 2010, the French, Swiss, Rus­sians and Bri­tish dom­i­nated; in 2016, they’ve been joined by the Ger­mans, Swedish, Dutch and mem­bers of the UAE.

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