Brits take to the slopes as alpine sales soar 52pc

The Alpine property market has continued its upwards trajectory this year, according to Savills' latest Alpine Property Market Property Spotlight. Sales volumes have risen 52 per cent year-on-year, although this does not necessarily mean rising prices.

"More alpine sales are taking place at lower price points as the resilience of the ultra prime markets starts to ripple down the market ladder," says Savills.

Jeremy Rollason, managing director, Alpine Homes, comments: "12 months ago, we predicted prolonged periods of sunshine and blue skies for the Alpine property market. This may have been a somewhat easy prediction, given a recovering world economy, increased confidence and job security and in the case of UK buyers, a steady strengthening of sterling.

Indeed, low mortgage rates, a strong pound and ongoing investment in resorts' infrastructure mean conditions are highly favourable to British buyers of French ski homes, explains skiing property specialist Skiingproperty.com.
 
Growing awareness of dual seasonality is helping to attract British and other foreign buyers to resorts in the French Alps, in particular the Haute-Savoie region, easily accessible via Geneva Airport and where Chamonix already receives as many visitors in the warm summer months as during the winter skiing season.

"The pound spent most of October 2013 worth between €1.17 and €1.18," says Julian Walker, director at Skiingproperty.com.

"Now that, a year later, it's hovering around the €1.27 mark, a typical €400,000 ski home is circa £24,000 cheaper to a British buyer, thanks purely to the better exchange rate. Things get even better when you factor in how fixed mortgage rates for non-resident owners in France have fallen, typically to 3.1 per cent from 3.75 per cent last year. This amounts to a further saving of around €29,000 stretched over 20 years on a €400,000 property."

Meanwhile, French resorts that have received major infrastructure upgrades in time for the 2014-15 season include Châtel in the Haute-Savoie. Within the resort, a new aqua Centre opened in July, putting the resort's facilities on a par with other leading resorts in the Alps and increasing Châtel's overall appeal. The aqua Centre incudes indoor and outdoor heated swimming pools, a 25-metre lapping pool, kids area and swimming pool, as well as a gym and Spa facilities, such as Jacuzzis and saunas.

Estate agemcu Erna Low Property says it is already seeing attention from pre-winter property buyers.

Francois Marchand, General Manager at Erna Low Property comments: "The ever lower interest rates offered by the French Banks, and a weakening Euro versus the Sterling has triggered earlier property searching by clients in the French Alps”. Enquiries from savvy investors are up 20 per cent year on year since the end of the summer, as buyerss are gearing up before the ski season has started.  Site visits have been taking place since the beginning of September as clients are choosing to purchase ahead of their ski holidays, to avoid missing out on an idea property with the first snow."