Exchange Rate Encourages UK Buyers to Snap up French Ski Properties

Posted on 11 February 2012

The recent improvements in the exchange rate between sterling and the euro has prompted more interest by UK buyers in French ski properties. Apparently some agencies are seeing up to three times the number of sales achieved in the same period last year, and are receiving far more inquiries from serious buyers. It looks as if many people may have been waiting for the exchange rate to become more favourable before deciding to purchase as property has now become significantly cheaper.

This season has also been great for skiing, and the French Alps have seen significant levels of snowfall prompting many skiers to choose this destination. However others are choosing to buy property rather than invest money in the stock market, seeing it as being safer and offering better returns. One of the developers currently selling French ski property is MGM French Properties who are selling apartments on a leaseback basis with a guaranteed gross annual rental income of about €5,500 plus up to six weeks of personal use.

These apartments were all fully booked throughout January in spite of the fact that this period is usually quiet. The French Alps also make a good year-round destination and are popular with people who enjoy biking, hiking, riding and climbing during summer and skiing and snowboarding during the winter. Properties in the French market towns such as Samoens have seen prices increase by around 7.5% during the last year especially as such locations are just an hour’s drive from Geneva airport. Most of the purchasers are in their 40s and 50s, but there are increasing numbers of young professionals and families choosing to buy property in the French Alps.