Posted on 05 April 2012
According to the latest data, property sales in top Canadian ski resort of Whistler, famous as being host to the 2010 winter Olympics, increased by 25% in February 2012 compared to January. According to the report $2.9 million was the most paid for a property in February, which is lower than the $4.1 million paid in 2011, and the $3.7 million max in 2010, although it is still early days for 2012.
Meanwhile agents are reporting a surge of sales in the French Alps, with British buyers driving the demand.
“It’s clear that a surge in sales since the New Year has been driven by a group of British investors who, for the first time in some cases, realise that putting their money into bricks and mortar in popular ski resorts can offer better returns than the continuing uncertainties of the stock market,” said Richard Deans of local agency MGM French Properties.
MGM said that leaseback properties continue to be the most popular with British buyers, showing that investors are still weighing safety and security above returns, as the average return on leaseback properties is 4% max, but the French government guaranteeing that return is a plus in today’s volatile world.