Upward trend in the French Alps
IT’S not all bad news in the eurozone. French developer MGM sold more properties to Britons in the first four months of this year than it did in the whole of 2011. The popularity of the Grand Massif area of the French Alps, offering year-round holidays, has put the region at the top of the league table for the sale of ski properties in France, notes the developer’s London office.
Richard Deans, who heads MGM’s team in Regent Street, W1, says there has been strong pent-up demand for a while, “but British buyers were reluctant to commit themselves when the sterling pound/euro exchange rate was so poor. When it returned to 1.2 earlier this year, the brakes came off.” He adds that access to euro mortgages is helping and he expects the strong demand for French Alpine properties to continue, possibly with a further boost later in the year if the exchange rate improves to 1.3, as many predict.
The village of Châtel on the FrenchSwiss border has proved one of the most popular locations. The family-friendly village, 90 minutes by road from Geneva Airport, boasts 650km of slopes, taking in eight French ski resorts and four in Switzerland.
MGM’s new development in Châtel is a résidence de tourisme, Les Chalets d’Angèle. Owners will have use of facilities including an indoor pool, fitness suite, gym, sauna, spa bath and steam rooms. An OdesCimes spa will offer massages and treatments. Apartments start at 182,000 euros (a little over £145,000).