Close up on ski property investment in Chamonix, Haute Savoie
CHAMONIX, you either love it or hate it! For those who love it and are thinking of investing in this French town, here’s some information about Chamonix, its property market trends and its opportunities.
Chamonix is one of France only resort to be opened all year round and has extended winter and summer seasons . 10, 000 people live in Chamonix on a permanent basis. The population increases to 30,000 in winter and 80, 000 in summer which makes it an ideal place to combine pleasure and investment as you will have a minimum of 15 weeks rental per year.
The Chamonix Valley stretches from Servoz to Barberine on the Swiss border. The main towns include Les Houches, Les Bossons, Chamonix, Les Praz, Argentiere, Mont Roc / Le Tour, and Vallorcine. Chamonix is not a ski in – ski out purpose-built resort, but rather a town which became the world capital of mountaineering and developed into a world renowned ski resort. With the new Mont Blanc Unlimited ski pass you can now ski in the Chamonix Vallée, Courmayeur and Verbier.
Despite popular myth that Chamonix is for experts only, the valley offers fun and exhilaration for all levels of skier and snowboarder. There are comprehensive beginner’s areas at the bottom of all the main lifts, and lots of relaxed blues and reds to cruise down.
In summer you can enjoy, mountaineering, climbing, white water rafting and canyoning, paragliding, mountain biking, road bike, golf, tennis, paintball, pony trekking and horse riding, cookery courses and french language Courses.
Chamonix night life is vibrant, with chic bars, live music venues, traditional French cafés, nightclubs, a Casino, great restaurants, a bowling alley with pool hall and a cinema. In addition to the many sporting events that Chamonix holds every year, André Manoukian, French Jazz producer launched this year Cosmojazz, a Jazz Festival to allow the public to enjoy concerts while discovering some breathtaking settings.
An easy access via the motorway from the main airports, Geneva (1h), Chambéry (1h30), Grenoble (2h10) and Lyon (2h30). You can also arrived in Chamonix by train.
The property market in Chamonix has long been influenced by the British buyers. By the end of 2008, the market went to a complete stand still. Most owners could afford to wait so the prices didn’t dropped. Since mid-2010, the buyers are back, the price per m2 for new built is between 8, 000 € to 10, 000 € and around 5, 500 € for a resale property (over 10 years old). Chamonix is compared to Paris for its new built market, hardly no land to build on and few offers make the prices go up.
The opportunities… Buy a new apartment in the center of Chamonix, rent it out seasonally and we can arrange for you to get your VAT back! so it is a real saving of 19.6% on the purchase price. We have a well know rental agency on the ground with 23 years experience in the Chamonix rental market who will look after your property and offer the necessary standards to qualify for the VAT rebate. They won’t guarantee you an income like a leaseback company would do, but they will give you a pretty good estimation of annual income. You can decide with them when you want to use your apartment as they are given you a complete flexibility. You sign a 9 years lease as it is a condition of the VAT reimbursement, but the lease will have a break out clause for every year, you can exit with 3 months notice and very important , you won’t be charged any penalties!
With that in mind, we have a choice of 1, 2 and 3 bed apartments ready for Christmas for sale. 2 mins from the center of Chamonix with stunning views on to the Mont Blanc. The apartments are finished to very high standard mixing traditional mountain style details with contemporary design. Under floor heating system, wooden floor, luxury fully fitted kitchen, bathroom with italian showers.
Prices ( include underground parking, ski locker and cellar).
- 413 000 euros (345 317 euros net ) for 1 bed + cabin apartment
- 504 000 euros (421 424 euros net )for a 2 bed apartment
- €617 000 (515 886 euros net ) for a 3 bed apartment
We also have 3 apartments in a residence which is in the center of Chamonix, to be completed for december 2011. This is a great location as you can not find more central. The apartments will have the same finishes as the development above so you can view exactly what you are buying. There is no parking with that residence but we have the possibility to purchase a garage 200m from the residence. There are 3 left, 2 bed apartments priced at 464 000 euros (387 959 euros net ) and 3 bedrooms 591 000 euros (494 147 euros net ) and 633 000 euros (529 264 euros net ).
The same rules as a traditional leaseback will apply, should you decide to stop leasing your property or sell it before the 20 years period, you will be liable to repay a pro rata of the VAT back to the French Tax.
We like this option as it give you a genuine opportunity to reduce the price of the property, while giving you all the flexibility that we lack normally in a traditional leaseback.
Alternatively you have some resale apartments and chalets in Chamonix, Les Houches. Please contact us to get more information or if you wish to discuss your requirements. firstname.lastname@example.org