Posted on 29 September 2012
The latest quarterly report on ski investment property from Knight Frank shows France is still the dominant country, as it holds the top three positions in their Prime Ski Property Index which covers the second quarter of this year. The report indicates that property in French ski resorts has stabilised more quickly than in some of the most popular North American resorts, and this is thought to be due to a number of factors.
These include the fact that most French resorts tend to be at a higher altitude than resorts in other countries, so the snow quality and quantity tends to be more reliable. In addition a lot of the resorts have been established for many years, and have a lot to offer in terms of amenities and activities other than skiing.
This has increased the popularity of these resorts, and the French Alps is beginning to appeal to a younger demographic than previously. Having a wider appeal will lead to the chance of increased rental returns all year round.
These resorts have also benefitted from significant amounts of investment during the last few years, which has been used to improve the infrastructure, accessibility and the quality of the skiing.
The winter season of 2010/2011 proved to be pretty strong, and resorts such as Courcheval, Val d’Isere, Meribel and Megeve saw high levels of sales activity. Many properties attracted more than one buyer so most achieved selling prices close to the asking price. It takes an average of six to eight weeks to complete the purchase of a previously owned property in France, although buying off-plan can extend this time frame by anywhere up to a year or longer.