Now is the time to act to secure a ski property
As the ski season comes to an end, MGM announces a last chance to buy in its transformed' three valleys resort
With only a handful of new ski apartments left to sell just 100 metres from the slopes and alongside a lift to the top of the runs in the French Alpine Three Valleys – the world’s biggest skiing area – the region’s leading developer says now is the time to act to secure one for the start of the next ski season.
“After last year’s early snow falls in late autumn, that could be less than six months away,” says Nathalie Turchet, London-based UK sales manager of Annecy-based MGM.
The firm’s pledge to replace ugly ’sixties- and ’seventies-built ski holiday accommodation blocks in Les M�nuires – which it regards as blots on the stunning mountain landscape’ – has paid off with the news that all but 17 of the 78 apartments in its latest residence de tourisme in the resort have been sold.
Says Nathalie: “Our third traditionally-styled development in Les Menuires – Les Clarines, the four-star residence which last year won the Homes Overseas Best Ski Development Silver Award – has become a significant new architectural landmark in the resort we are transforming with the removal from the skyline of outdated rabbit hutch’ apartment blocks.”
Pictured is MGM’s new traditionally-styled development in Les Menuires – Les Clarines – which has become a significant architectural landmark in the resort.
The new four-star residence opened for business at the end of last year and CGH, the MGM Group’s specialist management company which runs it, reports that occupation of more than 80 per cent has been achieved for its first ski season.
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“That is good news for investors who were attracted by MGM’s leaseback schemes,” says Nathalie.
They mean that the prices payable for the remaining properties start as low as €232,400 for a two-bedroom fully-furnished apartment with underground parking, cellar storage and a ski locker because the price is reduced by 30 per cent in respect of the waiver of VAT under the leaseback scheme and a further discount in lieu of rental income.
Alternatively buyers can opt to receive a guaranteed annual rental income but still gain a reduction of the price they pay though the waiver of VAT at 19.6 per cent.
Owners and occupiers of the apartments at Les Clarines have access to private resort facilities including a heated pool, jacuzzi, sauna, gym and steam rooms. A range of body treatments and massages are available.
Says Nathalie: “The ambiance in Les M�nuires is vibrant; it is very popular with the French and, considering its prime location, the properties for sale represent excellent value.”
At 1,850 metres, the altitude of Les M�nuires helps to ensure a good snow conditions on its 600 km of pistes throughout a long season, typically early December to late April. In summer the ski lifts are used by walkers keen to trek through striking scenery and mountain bikers seeking long downhill rides.
The nearest airports are Chambery, 90 minutes away by car, and Geneva or Lyon, both two hours by road.