MGM’S SALES KEEP CLIMBING IN THE FRENCH ALPS

The decision by ski property specialist MGM to expand its operations by building its biggest ever residence de tourisme in a new and little-known region of the French Alps, the Haute-Maurienne – a move said by some to be a gamble – has paid off with more than half of the 90 apartments in the first phase of the development sold off-plan just nine months after details of the scheme were announced.

In May this year MGM started work on the construction of the first phase of the residence, Le Chalet de Flambeau, between the old-established villages of Lanslebourg and Lanslevillard in the Val Cenis ski resort close to the Italian border.

“This is just the start of MGM’s expansion into a new region of the French Alps, providing us with the opportunity to offer a new generation of high quality ski properties,” says Richard Deans, sales consultant in the firm’s London-based UK sales office.

Although little-known to British skiers, the Haute-Maurienne soon will become more accessible thanks to new flights and train services.

Val Cenis is just 90 minutes by road from Chambery, the destination for new British Airways City Flyer flights which will operate from December 18 until the end of March.

Says Richard: “For City workers the new service brings the ski slopes of the French Alps within easy reach for a weekend trip. It also makes inspection trips easy for those wanting to take a look at the property investment opportunities available in the region.”

Meanwhile work continues on the construction of a new high-speed rail link between Modane – 20 km from Val Cenis – and Paris. The current journey time will be reduced by one hour to three hours when it is completed in about four years time. For Eurostar travellers from London St Pancras, the travel time after changing trains in Lille will be four hours.

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Richard predicts that the market growth he is seeing in this region – and across the French Alps as a whole – will gain momentum with the start of the ski season only weeks away. He reports that sales in July and August this year were the best he can ever remember.

This month, as MGM puts the finishing touches to brand new residences de tourisme which will be open in time for Christmas in Les Carroz, Le Grand Bornand (pictured above), Montgenevre and Serre Chevalier, work is getting under way on the construction of Le Cristal de l’Alpe, a new four-star residence de tourisme in Alpe d’Huez in the Central Alps region of France. Located just 100 metres from the ski lift, it will have panoramic mountain views while being only a few minutes walk from shops, restaurants, and leisure facilities.

The prices of MGM’s properties depend on size and location. The average price currently is around €380,000. For full details of all the properties available from MGM call 0207 4940706, email london@mgm-immobilier.fr or visit the website www.mgm-constructeur.com