| There has never been a better time to buy property | | | | viewing trip to the Alps. |
| in the ski resorts of the French Alps. | | | | The global financial slowdown that started in 2008 |
| The 2008/2009 ski season in the French Alps has | | | | has unfortunately forced some owners to sell their |
| been one of the best on record. Snow conditions in | | | | alpine properties; for buyers, the result is a better |
| the big name alpine resorts such as Chamonix, | | | | selection of properties for sale in the French Alps and |
| Morzine, St Gervais and La Clusaz have been | | | | more realistic prices. In previous years it was almost |
| consistently good since the lifts started operation in | | | | impossible to find affordable properties on the |
| December. Most resorts remain open now until the | | | | market near the pistes or ski lifts; nowadays there |
| end of April, meaning there is still some time yet for | | | | are many more possibilities although the best |
| winter sports enthusiasts to get out and enjoy the | | | | examples still sell quickly when priced (and marketed) |
| mountains under clear blue skies! | | | | correctly. |
| The good conditions have meant that occupancy | | | | Another unique factor is the current strength of the |
| levels for self catering apartments and chalets in the | | | | euro versus the pound. In recent years, a large |
| Alps have been very high throughout the season. | | | | number of British residents have purchased |
| Rental agents in Chamonix and Morzine report that | | | | permanent or second homes in Alpine resorts such as |
| there were very few vacancies over the busy | | | | Chamonix, Morzine, Les Gets and Samoens. |
| Christmas / New Year period and during the month | | | | Depending on the date of purchase, many of these |
| of February. This is obviously great news for those | | | | people will have seen huge growth in the sterling |
| who have purchased property in previous years to | | | | value of their property, simply because of the |
| rent out to holiday-makers. | | | | change in exchange rates. For example, in 2007, a |
| For those considering purchasing their own alpine | | | | British buyer purchasing a 600,000EUR chalet would |
| chalet or apartment, perhaps with a view to renting | | | | have spent around £400,000 (converting at an |
| out in future years, the spring and early summer is a | | | | exchange rate of 1.5EUR/£1). Today, with an |
| great time to start looking. One of the downsides of | | | | exchange rate of less than 1.1EUR/£1, the |
| property hunting during the peak ski season is that | | | | 600,000EUR chalet is worth over £540,000 |
| properties for sale are often let out by their owners. | | | | even discounting any capital gain. The British property |
| It is sometimes difficult to arrange access for | | | | owner has won the exchange rate gamble, gaining |
| property viewings in the middle of the week as | | | | £140,000 in 2 years on the back of the |
| renters are understandably not too keen to have | | | | weaker pound. Some of these owners are now |
| their holiday time disturbed. The seasonal lettings | | | | selling with a view to converting the proceeds into |
| market slows down in April, making access much less | | | | pounds and they are often open to more significant |
| of an issue. | | | | price negotiation than normal given the exchange rate |
| A number of other factors make spring / early | | | | gain they are making. |
| summer 2009 the ideal time to plan that property | | | | |