FRENCH ALPS PROPERTY REPORT 2018 Contents a BOOMING FRENCH a Booming French Property Market Brings Energy to the Alps 3

FRENCH ALPS PROPERTY REPORT 2018 Contents A BOOMING FRENCH A booming French property market brings energy to the Alps 3

It’s an exciting time to buy a mountain home 4 PROPERTY MARKET There’s more to the mountains than snow 6 BRINGS ENERGY Terrésens: the only way is up 8

With you every step of the way 10 TO THE ALPS

Nexalia: laying the foundations for a lifetime of holidays 12 The French property market is booming. The 12 months to the end Future perfect: why Arc 1950 is so popular with investors 14 of October 2017 saw a record number of sales of existing properties: 958,000, up from 564,000 in the depths of the Credit Crunch. Buoyed Halo Financial: get more of the Alps for your money 16 by a sense of national revival under Emmanuel Macron, and a strong A place in the sun 18 Eurozone economy, it looks set to prosper for some time to come.

Not surprisingly, the market for Alpine property in France has benefited too. We don’t have to look far for the reasons. France is home to many of the world’s most famous mountain resorts, and its largest and most exciting ski areas. With a long winter season (lasting 22 weeks in some resorts), and a buzzing summer scene in July and August, it offers investors significant rental returns - as well as the chance to lead a healthier, more active life. For many, the prospect of escaping into this beautiful and inspiring environment is just as important as opening up a new revenue stream.

But it’s not just the French who are beating a path to the Alps. Here at Erna Low Property we’ve seen strong demand from both British and international buyers, and we’re ideally placed to help them. We’re a French estate agency, with offices in both London and the French Alps, and we offer not only an insider’s view of the French property market, but also the best new offers from property developers.

There are many ways to purchase a property in the French Alps, and we can guide savvy investors to the right solutions, aided by a network of hand-picked associates. It’s a seamless service, from the first enquiry to the signing of the final deeds of sale, and beyond. We’re here to help whenever you need us.

François Marchand, Director

Photo: © Romany Rybaleov/shutterstock.com www.ernalowproperty.com 3 5 2018 5.4% (1.5%) €1,862 958,000 €35,201 Oct 2017 Oct Source: Erna Low Property Erna Low Source: Source: Notaires de France Notaires Source: 3 months to 1 November 2017 1 November 3 months to 2014 €2,035 Source: barometre.immobilier.notaires.fr Source: (2.75%) €66,455 652,000 Feb 2013 Feb 16.4% 2012-17 www.ernalowproperty.com 2011 €2,181 564,000 €92,700 (3.75%) Aug 2009 Aug 4.0% 8.0% 0.0% 2.0% 6.0% 14.0% 18.0% 10.0% 12.0% 16.0% 0 €0 La Plagne resort 2000 and Aime of lift system Redevelopment d’Isère Val district of Coin de Val Redevelopment Megève systems and snow-making lifts New hotels, Deux Alpes – Alpe d’Huez Les gondola by resorts link the two to project Possible Chamonix (ongoing) and pistes of lifts upgrade 40-year Samoëns and pistes New lifts €2,000 €1,000 €80,000 900,000 800,000 700,000 600,000 500,000 €60,000 €40,000 €20,000 €100,000 1,000,000 €60m €25m €477m €455m €200m €100m New resort investment resort New Rise in average Rise in average in Savoie house prices Rock-bottom mortgages and a mortgages Rock-bottom market property French resurgent Total number Total sales of of existing in properties over France the previous 12 months Repayments Repayments on a 15 year fixed-rate mortgage €240,000 of Total interest to repay to interest Total Monthly repayments

FOR SALE Luxurious La Plagne La Luxurious apartments Set at an altitude of 2,050m in Plagne an altitude of at Set White Soleil, the recently-launched a high-end, offers development Pearl La of in the heart base snowsure The 81 ski-in, area. ski vast Plagne’s Ô their own have ski-out apartments and will be the resort’s des Cimes spa, a They’re residence. five-star first-ever modernising the new, symbol of fitting spirit in La Plagne, which has recently new investment €455m of announced The and infrastructure. villages on lifts, from priced are apartments 2-5 bedroom €325,000-€690,000, off-plan.

Photo: © Lukas Gojda/shutterstock.com

apartment complexes have been launched have complexes apartment high-quality while in existing the Alps, across 1950, the resale such as Arc developments the rock- No doubt, health. is in good market Euro on fixed-rate charged interest bottom demand. So too drive is helping to mortgages In the market. property French is a resurgent the 2017, October end of the to months 12 number a record registered de France Notaires 958,000, up from properties: of sales of existing crunch in of the credit 564,000 in the depths so buoyant, economy Eurozone the With 2009. continue. to likely that’s a trend it’s plenty seen we’ve Property Low Erna at Here with buyers, English-speaking from of interest sharply in enquiries and sales recovering both in rise a seen We’ve 2017. of half second the price purchase average The too. spend overall the before years €339,500 in the two is up from June €439,000 between to referendum, Brexit 2017. 2016 and December of a growing be aware do need to Buyers and higher- lower between differentiation is firmly on Up high, the focus altitude resorts. important summer is as down, skiing. Lower they of resort But whichever style as winter. of one thing: if they be sure choose, they can investments property few the mountains, love such a richly-rewarding ever have could lives. on their impact improving infrastructure infrastructure improving new with is combining equipment, and a new - tech of wearable wave such as the CARV digital us make - to ski instructor happier skiers. all better, the same time, the idea At holiday a winter of what re-energising the French Alps. French re-energising the can be is expanding. Music fans are being are Music fans be is expanding. can range a growing by the mountains into drawn April is Chamonix’s (the latest concerts of rock walking are ski tourers event, Musilac), whilst down. as skiing back up their Alps, as well of growth In summer the mushrooming biking has been such as mountain sports in the Alps as a family interest by accompanied grow can children where - a place destination social media and from away and prosper, progressive Asgaming. video the most a result, as busy in July and almost now are resorts during the ski season. as they are August second a for demand that then wonder no It’s home in this inspiring and invigorating the past is on the rise. Over environment of new range an impressive years, four will spend €12m boosting its snowmaking snowmaking its will spend €12m boosting new MTB 2024m. Meanwhile, before capacity festivals yoga networks, trail-running parks, a growing for provide and e-biking facilities some fact, In visitors. summer of number as a summer future see a brighter now resorts one. than a winter destination the to make has been effect The net In winter, than ever. exciting more mountains

t’s an exciting time to buy property in the buy property time to an exciting t’s in heavily investing are Alps. Resorts French as the ski industry - just new infrastructure, going - are in general sports and mountain

To be successful in the modern era, ski areas ski areas in the modern era, be successful To to systems snowmaking need powerful provide, can Nature Mother what supplement cannons the snow region and right across example, multiplying. La Plagne, for are In part, this wave of investment is being driven is being driven of investment this wave In part, are resorts days, These top. the to race a by lifts, with fast status A-list for competing and state- accommodation, eye-catching also an swimming pools. But it’s of-the-art – and changing tastes that acknowledgement it what reshaping - are a changing climate resort. be a mountain to means the two resorts across the deep chasm of the across resorts the two of And in La Plagne, a total valley. Romanche and upgrades €455m will be spent on ski area of Aime 2000. the expansion The sums being invested in mountain in mountain The sums being invested In 2017, staggering. sometimes are resorts €200m a announced d’Isère Val example, for slice - a large Coin de Val Le of redevelopment house new shops that’ll centre, of the village and a bus hotels apartments, and restaurants, Les Grenoble, of south Meanwhile, station. developing Deux Alpes and Alpe d’Huez are linking €60m gondola, a spectacular plans for through a period of change and renewal. The renewal. and change of period a through is in good and chalets apartments for market rates mortgage rock-bottom by fed too, health economy. Eurozone and a resurgent It’s an exciting time to buy property in the an exciting time It’s are investing heavily in Resorts Alps. French industry just as the ski new infrastructure, - are going - and mountain sports in general and renewal. through a period of change | French Alps Property Report Alps Erna Low Property | French New New investment, ground-breaking technology, and changing tastes are

BUY A MOUNTAIN HOME A MOUNTAIN BUY IT’S AN EXCITING TIME TO TIME AN EXCITING IT’S

I 4 THERE’S MORE TO THE MOUNTAINS THAN SNOW Many buyers are looking for a healthy, active environment in which to nurture their families - and summer is just as important as winter when they consider a mountain home. Mountain biking, Les Saisies. Photo: © Monica Dalmasso

FOR SALE The best of both seasons in Les Saisies The new apartments in the Chalets des Cimes are perfectly- placed for both summer and winter - as they back onto an area of MTB trails and pistes. Grouped into eight chalet-style residences, the fully-furnished 1-4 bedroomed flats are priced from €193,000-€559,000, and will have their own swimming ttitudes to the Alps are changing. pool, spa, shops and kids’ club. There’s no better expression of the transformation than the question we’re always asked these days Village living Aabout mountain resorts. “What are they like in in the heart the summer?” of Châtel 15 years ago, our buyers were focused almost Home to just 19 spacious exclusively on skiing. Now they want to know Hiking in the mountains above Châtel. Photo: © G. Vabre apartments, Imelda & Gaby is about hiking, biking, swimming, climbing a boutique development in the - and the host of other activities that make heart of the popular Portes du the “off season” in the mountains so vibrant. summer holidays in the Alps, and mountain network of trail-running routes in partnership Soleil village of Châtel - which is Sometimes it’s because of their own sporting resorts have responded by increasing the with its sister resorts in the Portes du Soleil. as well known for its mountain interests: but increasingly they’re asking for range of sports and facilities they offer. In the Meanwhile, families can try everything from biking as its skiing. The nearest lift is only 150m away. The 1-5 the sake of their children. last five years, for example, a wave of state-of- a bob-luge track and mini-golf to the recently- the-art swimming opened high-rope obstacle course, Châtel bedroom flats range in price Le Signal swimming pool, Les Saisies. Photo: © Monica Dalmasso from €355,000 to €1,180,000. pools and leisure Aventures. Parents see it as the perfect antidote to the obsessive, centres has indoor world of video games and social media. washed across It’s a similar story in Les Saisies, part of marathon known as the Ultra Trail du Mont the region, the Espace Diamant ski area. Its forests Blanc (UTMB). But there’s more to its summer Luxury and It’s no surprise. The Alps are a big, beautiful providing weatherproof fun - as well as a place and meadows are perfect for biking, trail- scene than mountaineering and trail running. running and hiking, but the resort also offers convenience and energetic environment, tailor-made to cool off when it gets too hot. Among them Younger visitors can also enjoy an outdoor in Chamonix for adventures - and parents see it as the are Le Signal at Les Saisies, built at a cost of horse-riding, trampolining, archery, tennis leisure park, complete with Alpine coaster, perfect antidote to the obsessive, indoor €16m, as well as the Forme d’O in Châtel and badminton. One of its most popular as well as wildlife sanctuaries, paintballing, Set in a private garden just 10 world of video games and social media. So an (€13m), La Piscine in Les Arcs (part of the €36m attractions is the Escaladventure park. Set in a new via ferrata route, and both indoor and minutes’ walk from the centre important part of their motivation is investing Mille8 project) and Aquamotion in Courchevel a steep-sided canyon, this unique adventure outdoor pools. of Chamonix, Les Chalets Paradis offer both luxury and in the future of their kids as well-rounded, (€63m). centre combines rock and tree climbing with physically active people. They plan to spend rope bridges and zip wires. For anyone interested in buying a mountain convenience in one of the Alps’ most magnificent valleys. The as much time in their new homes in July and As a result, the most progressive resorts have home, there is another benefit to this surge in Even rugged Chamonix is broadening its six demi-chalets will be finished August as they do in winter. turned into vast verdant playgrounds for both summer tourism. It’s making it easier to rent to the highest standards, with adults and children. Take Châtel, for example. appeal. With Mont Blanc on its doorstep, it’s out an apartment or chalet in July and August. prices for the 4-5 bedroom Of course, it’s not just property investors who As well as the Forme d’O swimming pool, it’s always been a summer resort as much as a As our sister company Erna Low Travel reports, properties ranging from are learning to love the off season. There’s winter one. In fact, the busiest week in its properties in the right resorts are now as home to one of the best mountain bike parks €1,099,000 to €1,349,000. been a much broader surge in interest in in the Alps, and has recently launched a new calendar is in August, during the mountain sought-after in summer as they are in winter.

6 Erna Low Property | French Alps Property Report www.ernalowproperty.com 7 “We use robust materials for our interiors - solid, local wood for doors and floors, and lots of stone. In part, that’s because we want our residences to last, but it’s an aesthetic decision, too. There’s great beauty in their strength.”

We also use robust materials for our interiors - solid, local wood for doors and floors, and lots of stone. In part, that’s because we want our residences to last, but it’s an aesthetic Samoëns: history, skiing and decision, too. There’s great beauty in their strength. spectacular scenery Terrésens’ new development of 1-3 bedroom Are buyers allowed any flexibility when it apartments and 4-5 bedroom chalets at Le Pré comes to renting out their new homes? d’Anne-Chloé is a short walk from the historic centre of Photo: © canadastock/shutterstock.com Photo: These days, there’s no one-size-fits-all Samoëns - and perfectly-poised to take advantage of THE ONLY WAY IS UP solution. So we offer three options. Our FOR SALE the resort’s recent €25m investment in lifts and pistes. properties can be bought as classic freeholds, These spacious properties feature high-end materials such as oak flooring and aged-wood panelling, as well our buyers get more for their money, and the carefully consider the pricing, to ensure that with no rentals intended and no tax refunds Property developer Terrésens is as covered parking, and will be a treat in summer as well as winter, when walks potential for capital growth is stronger, too. owners can set rents that match the holiday - or as part of a standard leaseback scheme. beneath the soaring, 700m Fer à Cheval cliffs are a must. With Erna Low Property, one of our principal partners - This means they’re placed in a professionally- budgets of the resort’s customer base. The prices range from €244,500 to €518,833. and has a knack for picking ski Samoëns is a great example of such a village. approach to the project is all-encompassing: managed rental pool with only a few weeks of It already links into the Grand Massif - France’s only when we’re certain the fundamentals are use for the owner – in return for a VAT refund of resorts with a bright future. fourth-largest ski area, with 265km of pistes. good do we move onto technical drawings, 20%, and tax-free rental income. But in 2017 a new Club Med resort-hotel opened and apply for a construction license, as well as We asked Margaux Planet, its However, many of our buyers want more Small village meets Prime Les Deux on its slopes, and on top of that there’s been giving our financial guarantees of completion. big ski area at Vaujany Alpes location Marketing Manager, about €25m of new investment in lifts and pistes. flexibility, which is why Terrésens has developed a third way: Co-Ownerships of the work that goes into finding More people will be skiing here as a result, and At what point does construction start? Vaujany is You couldn’t its reputation will surely rise. It’s a beautiful If the construction license is granted, we start Residence for Tourism (CRT). These allow the rarest of wish for the right plots and completing setting for a summer holiday too - which is marketing the development. Building begins owners to enjoy their property for up to six ski resorts: a more months a year, and for the rest of the year, successful projects. something we always consider. These days, when it’s 50% sold, and usually takes 18 months a small, cute convenient all our buyers want to enjoy their properties in to complete. their property is rented out by My Second Alpine village location. July and August, as well as mid-winter. Home (a Terrésens subsidiary). Owners sign with 250km Le Chalet How do you pick your resorts? Are you How exacting are French building a commercial lease with My Second Home, of pistes du Soleil is looking for growth potential, or for ski Is the location within the resort important? regulations? which means they can claim back their VAT, attached, right in the areas that are already famous? It’s absolutely vital - whether you’re buying/ Building in the mountains isn’t for beginners. and enjoy concierge services both before which rise middle of Les Deux Alpes, opposite the to a very snowsure 3,300m and offer slopes ESF ski school’s meeting point, and handy In many ways that choice has already been selling a property or renting it out to other The code makes rigorous demands on account and during their stay. It’s proving to be a for everyone from beginners to experts. The for everything from lifts to ski hire. What’s made for us. In the really famous resorts, such mountain users. We always look for plots in the of the demanding conditions of an Alpine winter. very popular option with our buyers: and village has its own impressive facilities, too - more, owners will quickly fall in love with as Val d’Isère, Megève and Courchevel, land heart of a village, next to a lift, or beside a piste. Special foundations are required. So too is extra no wonder. Who wouldn’t want to spend as including a big indoor pool, spa and ice rink. summer as well as winter, as the resort is almost impossible to get. So they’re not a wind-proofing. But we always build beyond much time as possible in such a beautiful and Les Edelweiss offers doorstep access to the offers not just glacier skiing in June, July How long does it take to get a project off priority. these standards - for example, by extending the inspiring environment? best of it. A brand-new development of studio and August, but also some of the best the ground? flues above the roofing, on account of the snow and 1-3 bedroom apartments, it’s set in the mountain-biking in the Alps. The studio Instead, we’re looking for stations de ski with Years! Once we’ve found good land in the that can accumulate in an exceptional season. heart of the village, only three minutes from and 1-5 bedroom apartments range from slightly lower profiles that also have the room - right resort the Terrésens team carries out The record-breaking blizzards of January 2018 the ski lift. Expect above-average floor space, €218,000-€480,600 in price. and the ambition - to grow. Prices are lower, so land surveys and feasibility studies. We also were a salutary reminder of how deep it can get. good storage, and hassle-free skiing. Prices range from €142,000-€650,000.

8 Erna Low Property | French Alps Property Report www.ernalowproperty.com 9 WITH YOU EVERY STEP OF THE WAY Thanks to our expertise, and our tried and MEET THE TEAM... trusted network of associates, Erna Low Property offers a level of service and security few companies can match. François Marchand | Director [email protected] François has worked in the French property industry since 2004, and joined Erna Low Property in 2008. His understanding of the French legal system, as well as his in-depth knowledge of leaseback developers and management companies, ensures a smooth purchase process for all our clients.

e have deep roots in the Alps. Erna Low, the founder of our James Ross | Director of Sales parent company, took her first [email protected] clients there in 1932 and - with James is chartered surveyor. He has a master’s degree in Wa brief interruption during the Second World European Real Estate, as well as several years’ experience of the War - Erna Low Travel has been running ski London property market. He joined Erna Low Property after two holidays ever since. Over the years, the French winter seasons in the French Alps, where he worked as a resort Alps became a speciality. So, in 2003, it was an manager for a British ski company. obvious move to expand into the French ski property market.

Erna Low Property is the result. We are a Lars Brown | Sales Manager both legal and properly-conducted. In new- French estate agency, with offices in both [email protected] build projects they’re usually chosen by the London and Arc 1950, in the mountain resort property developers. But they don’t always Lars specialises in the sale of new-build chalets and apartments of Les Arcs. As a result, we’re able to offer our speak good English. So we arrange for second in a wide range of French ski areas - including Paradiski, the clients a level of security, expertise and service notary who does, to participate in a process Main photo: © michelangeloop/shutterstock.com Three Valleys, Evasion Mont Blanc, the Massif des Aravis, which is rare in the modern era of one-man known as a double minute. This ensures that Chamonix and the Hautes Alpes. After several years in the French companies and unsupported internet listings. our clients understand what’s going on at Other services we provide include Alps, he joined the team in 2014. recommending French accountants for It starts with our French public liability every stage of purchase - from the payment our clients’ tax returns and helping them insurance. This is only available to licensed of the first deposit to signing the final deeds sort through the mail they’ll receive once Caroline Xambeau | estate agencies in France that have a Carte of sale. their purchase is complete. This might Senior Sales Consultant (Arc 1950) Professionelle de Transaction: and it protects include minutes from the our clients against problems such as misselling [email protected] AGM of their property’s or badly-drafted contracts. We’re able to offer our clients a level of management company After ten years working in French ski resorts - five of which were security, expertise and service which is rare in La Plagne’s press office - Caroline joined us in 2011. She’s But it continues throughout the purchasing or unsolicited offers from based in our Arc 1950 office in the resort of Les Arcs, and her process, and beyond. For example, many of insurers, and often it’s in in the modern era of one-man companies detailed knowledge of the French Alps is an invaluable resource our clients apply for a Euro mortgage from a French. So we’ll ask them and unsupported internet listings for our clients. French bank to fund their purchases. Rather to scan the letters and send than recommending a single, one-size-fits- them through, and we’ll tell all mortgage broker to assist, we tailor our We also make sure our buyers are properly them what needs attention, and what doesn’t. Bella Eyre | suggestions to the circumstances of the client, advised when it comes to currency exchange. Finally – and importantly – everyone in the Sales & Marketing Coordinator depending on whether their application is It’s surprising how many assume there’s no team has lived and/or worked in the French [email protected] straightforward, or is based on several sources need for the services of a foreign-exchange Alps. We know the region inside out, and of income. specialist when buying a single ski apartment. Bella Eyre is a qualified ski instructor and the newest member we share our clients’ love of skiing, biking, But on the purchase of a €300,000 property of our team. She’s skied all over the French Alps, but knows the climbing and hiking. We’ll do our utmost to It’s the same with public notaries. These public with a €150,000 mortgage and a 50% deposit, Three Valleys best, having spent a winter training in Méribel. smooth their path to a home-owning future in officials are appointed by the Minister of Justice a well-timed exchange of currency can save a She supports both our sales team and clients in day-to-day the mountains. and they make sure property purchases are client several thousand pounds. operations as well as optimising our digital marketing presence.

10 Erna Low Property | French Alps Property Report Our founder, Erna Low www.ernalowproperty.com 11 FOR SALE

LAYING THE The best of both FOUNDATIONS worlds in Châtel Nexalia’s Four Seasons FOR A LIFETIME development is just 600m from the ski lift, but is set in OF HOLIDAYS a tranquil part of Châtel, surrounded by trees. Each of the Nexalia builds beautiful, high-quality spacious 1-4 bedroom apartments has a large mountain homes in some of the finest French balcony from which to soak up the view, as well as high-end furnishings, lots of storage space and resorts. Mien Krooglik explains why it’s underground parking. Available through Erna Low Property, where prices range from the natural choice for anyone investing in €211,000 to €599,000. their family’s future in the Alps.

or most buyers, a mountain property is a long-term investment. This isn’t Gateway to the about profit - at least, not in a financial Portes du Soleil

sense. It’s a commitment to healthier, Vibrant summers - as Fhappier and more adventurous lifestyle for well as memorable both them and their families. So they’re winters - await looking for apartments and chalets that are at the Chalets de easy to use, low-maintenance and - above all Montriond. The two - built to last. high-end, chalet- style residences Nexalia’s properties are the perfect match for are set in the pretty their needs. We’re a family-run company with village of Montriond, 35 years’ experience in construction, and we between snowsure specialise in Alpine properties with a long- Avoriaz and the buzzing, mountain-biking hub term future. of Morzine. In winter, the surrounding Portes du Soleil ski area offers a staggering 600km of It’s an approach that’s expressed at every pistes. The 1-4 bedroom apartments range from stage of the planning, design and building at a project’s immediate surroundings. There ensure our properties are as warm as possible make extensive use of double €249,000 to €620,000 in price. process - and it starts with our choice of are long-term and strategic considerations throughout the winter. Their functionality panoramic windows, so even locations. Nexalia’s reputation for high-quality too. How far is it, for example, to the nearest is of great importance to us too. Lifts come if you’re curled up on the sofa, developments means we’re always being airport? Does the the resort plan to invest in its as standard in our residences. So do storage watching Harry Potter with the offered the best plots. But we don’t just look infrastructure? And how well does it cater to cellars, ski lockers, and underground car parks. kids, the great outdoors never A spa town with its core markets? feels far away. 445km of skiing Finally, we make sure that Nexalia homes are The age of the bare-bones, rabbit-hutch ski The fruits of this a joy to live in. The age of the bare-bones, Not surprisingly, we’re rather St-Gervais shares its apartment is long gone. We’re creating relaxing, careful planning rabbit-hutch ski apartment is long gone. We’re proud of the finished product ski area with Megève, can be seen in creating relaxing, spacious, and luxurious and go the extra mile when so has pistes aplenty spacious, and luxurious environments in which to projects such as environments in which to linger, even if it comes to marketing our on its doorstep. But it’s also a bustling the Four Seasons there’s fresh snow on the slopes outside, or a homes. That’s why we work linger, even if there’s fresh snow on the slopes outside. spa town less than in Châtel. Here, beautiful summer bike ride in the offing. with the Alpine specialists at an hour’s drive from in a peaceful setting, only 75km from Geneva Erna Low Property, who know the market inside out, Geneva airport - and Part of the appeal lies in the way the interiors airport, four new chalet-style residences and can make the purchasing process as smooth its international can be customised according to our buyers’ are being built with one of the Alps’ most and hassle-free as possible. We also provide an profile has been raised by L’Oréal’s purchase tastes and needs. If they’d prefer fewer vibrant summer mountain-bike scenes on the exceptional after-sales service, reacting promptly of cosmetics brand St-Gervais Mont Blanc. Set doorstep, as well as quick access to 600km of bedrooms and a bigger lounge, we can adapt to any concerns. After all, we want our buyers to opposite the nearest ski lift, the new Clos de skiable pistes. the floorplans. They can also choose between enjoy their homes for generations to come, and Savoy apartments are perfectly-positioned to wood-burning stoves or gas fireplaces, as recommend Nexalia to their friends and business enjoy both spa and snow. Studios as well as The same rigour applies to construction. We well as a range of high-quality materials and associates. We’re delighted that so many of them do. 1-3 bedroom apartments are available, from go way beyond normal practices and building finishes that celebrate the colours and textures €107,000 to €349,000. regulations, adding extra soundproofing, and of the mountains. But it also helps that our

focusing on thermally-efficient materials to buildings are so bright and airy. Our designs Mien Krooglik is a specialist in new-build property in the French Alps at Nexalia

FUTURE PERFECT 2 bedrooms: €300,000 WHY ARC 1950 IS SO 658, Refuge du Montagnard There’s room for six in this spacious, 55m2 POPULAR WITH INVESTORS two-bedder, whose open-plan kitchen- diner-sitting room easily accommodates a big sofa-bed. The master- This ground-breaking, 21st bedroom is ensuite, and the apartment - which is available as a classic century village is vibrant freehold - comes with underground parking, ski locker and storage room. Owners will also in both summer and winter, have access to an indoor pool, heated outdoor and is our permanent base in pool, Jacuzzi, gym and steam room. the French Alps. Properties here are always in demand, from both buyers and 3 bedrooms: €450,000 holidaymakers. 7027, Prince des Cimes An open fireplace and rc 1950 is the rarest of mountain high, vaulted ceilings villages: a 21st century vision of how add a sense of “wow” a ski resort should be, built from to this 67m2 duplex scratch between 2003 and 2008, and apartment at the top Aincorporating many of the best lessons learnt Photo: © Andy Parant - Arc 1950 of the Prince des Cimes from half a century of resort development. residence. What’s more, because the current The finished product is extraordinarily compact, owner has renewed the leaseback agreement unusually pretty and supremely convenient. It with management company Pierre & Vacances, This remarkable development has been a hit But increasingly our French buyers are looking also has some of the best skiing in the Alps on the apartment has been refurbished with since the day it opened - and it’s Erna Low at alternatives. Some are local - harking from its doorstep. Ride to the top of the Bois de l’Ours a new kitchen. Facilities include a storage Property’s permanent base in the French Alps. Lyon, Grenoble and Marseille - and they want to chairlift, and the broad, confidence-boosting cupboard in the apartment, cellar and Over the last six years, we’ve developed a use their mountain homes frequently, in both underground parking, as well as an indoor pistes down to Arc 1600 and Arc 1800 open up uniquely detailed understanding of the resale summer and winter. Leaseback agreements pool and gym. beneath your skis. Or head to the summit of the market here, and have become intimately restrict their access to the apartments to 3,226, Aiguille Rouge, for a crack at one of the involved in its day-to-day operation. There are a few weeks, so instead of renewing the world’s longest pisted descents, which drops roughly 750 apartments in the village. Since our contracts, they’re choosing to rent them out through 2,000 vertical metres to the village of office opened, we’ve handled 160 sales. themselves through Abritel (the French version Villaroger. 3 bedrooms: €475,000 of HomeAway), or Maeva.com. It means more 604, Auberge Jerome What’s really striking about the work on their part, but many love the sense of The finished product is extraordinarily Arc 1950 property market is how freedom and flexibility they get in return. it’s evolving. Originally, it was the Fancy waking up to a Mont Blanc view? compact, unusually pretty and supremely British, Irish and Canadians who Either way, they’re buying into a development That’s one of the perks bought here - snapping up the that grows livelier every year. Thanks to more convenient. It also has some of the best awaiting owners of this apartments off-plan. Now, 80% of than a decade of contributions from businesses characterful, 65m2 duplex skiing in the Alps on its doorstep. the buyers are French, a reflection and owners, the Resort Club budget is in good apartment, available as a of France’s resurgent economy. health, and funds a busy programme of events. classic freehold. Another Meanwhile, back at base, the 3-6 storey In the winter, these include dazzling firework is the open fireplace, residences wrap around a car-free plaza, There’s a sense of change in the way owners displays. In summer, they span a huge range of along with a sense of light and space that where bakeries, restaurants, bars and ski hire are using their properties too. Many continue activities, from mountain-bike relays to yoga comes from being at the top of the Auberge centres are within easy walking distance of to participate in the resort’s leaseback scheme, classes and bouncy-castle days for the kids. Jerome building. As ever, there’s lots of storage every apartment. In fact, everything you need and put their property into its rental pool. They The result is a village that buzzes in July and space, as well as underground parking and a for a successful holiday is on the doorstep (or can claim back the VAT on their purchase, while August as well as during the ski season. We feel boot room - offering quick access to the pistes. just beneath it), from an underground car park The owners also have use of a heated outdoor the management company takes care of service very privileged to be part of it. to a crèche and a ski school - as well as instant charges and marketing costs, as well as sharing pool, gym, sauna and steam room. access to the pistes. the rental income with them.

14 Erna Low Property | French Alps Property Report www.ernalowproperty.com 15 How currency movements can affect the price of your property

YOUR Tools of the trade

MONEY There are ways you can protect Price of a €975,000 four-bedroom the price of your property at chalet in Sterling Working with an experienced the very start. A currency tool April 19, 2017 August 28, 2017 February 14, 2018 currency specialist can save called a Forward trade lets you you thousands of pounds when set the exchange rate when it £1 = €1.195 £1 = €1.079 £1 = €1.124 you buy a mountain property, is favourable, at a time that says Mimzee Brewer of £815,900 £902,850 £865,800 Photo: © Olha Sydorenko/shutterstock.com suits you, so it will not change Price difference£86,950 Price difference£49,900 Halo Financial. by the time you come to pay for your property. here’s a lot to think about when Getting to grips How a currency you buy a mountain home. Chalet If there is an exchange rate you have in mind or apartment? High altitude and with exchange rates specialist can help and the rate hasn’t quite reached it yet, there snowsure, or low-altitude and cute? Exchange rates fluctuate constantly. The rate At every stage of the buying process there are is another tool available called a Market order, TLeaseback or classic freehold? There may also you get when you first agree to buy a property ways you can save on the overseas payments where you can place an order for a specific be mortgage brokers to contact, tax advisers will be different to the rate you get when you you’ll make for your property - whether it’s for exchange rate and then make your currency to consult, and a notary to commission. So pay your deposit. It’ll be a different price again the deposit, the final payment in Euros, or the transfer when it hits that rate. it’s no wonder that picking the right moment when you sign the final deeds of sale and - if ongoing mortgage or property maintenance to buy your Euros often slips down the list of you’re buying off-plan - each time you make a costs. By enlisting the help of a currency A qualified currency specialist can talk you priorities. But it shouldn’t: because using the scheduled payment during construction. specialist, such as Erna Low’s recommended through the different tools and strategies right methods to exchange currency can bring firm, Halo Financial, you’ll bring a wealth of available to you to ensure you are maximising In the current political climate, these currency big savings during the purchasing process. knowledge and experience to the task, and your money for your Alpine purchase. movements can be considerable. When it save yourself both time and money. comes to buying property the difference they make to the final cost is measured not in For example, we can monitor the currency What next? hundreds but thousands of pounds. markets and let you know how they are If you have other big overseas transfers on moving, as well as alerting you to upcoming the horizon, for property bills, a mortgage, political and economic news that will affect or perhaps for pension or salary payments, a With political and economic future exchange rates. When it comes to qualified currency consultant can help with events moving the currency buying Euros, we can also offer rates that those, too. Savings can be made on regular are usually closer to the Interbank rate than currency payments by forward planning, markets day in, day out, by the your local bank. This is the rate banks use to setting the rate with a Forward trade, or hour and the minute, the rate exchange currency with each other, and it can simply by avoiding banking charges. It’s one be up to four percent better than the standard less thing to think about, so you can focus on *Figures from www.bloomberg.com Authorised by the Financial Conduct Authority under the Payment Services Regulations 2009, FRN: 528727. you receive could have changed high street or retail exchange rate. That’s a enjoying your time in the Alps. Her Majesty’s Revenue & Customs MSB registration No. 12197454.

considerably in the time it has difference of €20,000 on a €500,000 property. ©2018 Halo Financial Ltd. Registered in England No. 5155787. Mimzee Brewer is the overseas property Battersea Studios 2, 82 Silverthorne Road, London, SW8 3HE, United Kingdom taken to process your Alpine specialist at currency experts, Halo property purchase. Financial: www.halofinancial.com

16 Erna Low Property | French Alps Property Report www.ernalowproperty.com 17 or more than 100 years, the south of Despite the region’s glitzy France has been a byword for style, glamour and the rejuvenating effects of film-festival and rock-star image, sun and sea. Artists have been inspired by prices are not prohibitive. At the Fits dazzling light, the rich and famous have built their villas along its shores, and half of Europe time of going to press, new-build wants to holiday amidst its lavender fields and two-bedroom apartments were olive groves. It is, in short, a region that never goes out of fashion, and it’s a rewarding target available off-plan in Nice for property investors, whether they’re looking for €247,000. for reliable rental incomes, their own place in the sun, or a mix of both. Of course, these properties can generate rental returns too. One feature of the region - as in Erna Low Property has had a presence in the Alps - is that developments are often sold A PLACE the market here for over a decade: and it as leaseback schemes, which allow buyers to complements our business in the Alps perfectly. claim back the VAT on their purchase. In return, Not only do many of our existing clients want to they place their new homes into a professionally buy in Provence or along the Côte d’Azur once managed - and marketed - rental pool, sharing they’ve experienced the benefits of owning IN THE the income with the management company. It’s property in France. Many of our developer not the only way to rent out a property in the partners in the mountains are also moving into south of France, but it’s often the most hassle- Photo: © ronnybas/shutterstock.com the market, to broaden and strengthen their free method. summer business. SUN Whatever a buyer’s objective, we offer the same Despite the region’s glitzy film-festival and rock- seamless service as we do in the Alps. Erna Low star image, prices are not prohibitive. The price Whether you’re looking for Property is a French estate agency, registered in per square metre in the classic Riviera resorts France, and we have an easy familiarity with the reliable rental returns, or such as Nice, Cannes, St Tropez and Sainte- local market. We also enjoy long-established, Maxime is comparable to the more upmarket your own relaxing bolthole, work-proven partnerships with mortgage resorts in the French Alps. Nevertheless, at the brokers, tax advisers and notaries. As a result, the south of France is the time of going to press, new-build two-bedroom we’ll make the purchase process as smooth as it apartments were available off-plan in Nice for natural choice for summer. can be - allowing you to start enjoying your place €247,000. in the sun as quickly as possible, and with the These resorts also offer good rental returns. The minimum amount of fuss. season is shorter than in the mountains. 10-12 Photo: © PlusONE/shutterstock.com weeks is normal in summer, compared with around 18 weeks for the ski season. But there are no low-season blips in the Côte d’Azur summer, FOR SALE as there are in early December, January and March in the Alps, when rental rates can drop. Here, the whole of July and August is buzzing. Provencal charm, Sleek, summery Meanwhile, away from the big-name close to St Tropez apartments near Cannes destinations there are fantastic opportunities The Ecrin Vert is a superb example of how Villa Alice is for those with a more limited budget, or who affordable the south of France can be. Here, 37 a resolutely want to maximise the amount of space they one to three-bedroom apartments are available modern can buy. Because construction costs are so in the cute Provencal town of Le Plan-de-la-Tour, Sensational residence of 21 much lower than in the mountains, the price which comes complete with an 18th century apartments just per square metre is often significantly cheaper. church and a buzzing square edged with cafés. sea views in Nice 1km from the In hilltop towns and villages such as Le Plan-de- Prices range from €169,000 to €295,000, and the You get the best of both worlds nearest sandy la-Tour and Paradou, you also get a delicious Gulf of Saint- at the Domaine de Gairaut. This beach, and Provencal atmosphere. Bustling markets, Tropez is only stunning development of 29 three a short drive superb fruit and veg, and a Mediterranean 15km away. and four-bedroom apartments is from the centre of Cannes. It’s a development warmth that spreads from late May to early No wonder only 20 minutes from Nice airport, designed with the Mediterranean summer in October are all part of the attraction. It’s no 50% of the but set in the hills - where there’s mind - and comes complete with wraparound properties balconies and a lush, shady garden. Prices for the wonder so many buyers choose to put down more space, as well as majestic have already studios and 1-2 bedroom apartments range from roots here. Mediterranean views. The result been reserved. is a beautiful mix of big, luxurious €159,000 to €375,000. apartments and lush gardens, as well as tennis courts and a shared pool. Prices range from €855,000 Photo: © Stephane Lalevee/shutterstock.com to €2,965,000. 18 Erna Low Property | French Alps Property Report www.ernalowproperty.com 19 Erna Low Property Ltd 9 Reece Mews, London SW7 3HE Arc1950 Immobilier Résidence Les Jardins de la Cascade, Arc 1950 le Village, 73700 Bourg St Maurice, France

To discuss your requirements, Company Registration No: 5221660 VAT No. 947 9018 85 Numéro d’identification unique (SIREN): 502 641 830 R.C.S Chambéry call us on +44 (0)20 7590 1624 or Numéro intracommunautaire d’identification à la TVA: FR71 502 641 830 00026 /// Numéro Carte Professionnelle de Transaction : 658 - Préfecture de Savoie. email [email protected] This report is for general information only. Although every effort has been made to ensure its accuracy, Erna Low Property Ltd accepts no liability for any direct or Press Contact: Vanessa Fisher consequential loss or damage arising from its use. Reproduction of this report, in whole or in part, is prohibited without written permission from Erna Low Property Ltd. All E [email protected] prices, mortgage rates and other quoted figures were correct at time of going to press. T +44 7957 618525 Photo: canadastock/shutterstock.com