Typical mortgage rates of under 3% offered by French banks, together with a weakening euro versus sterling, have triggered investor searches for homes in the French Alps at an earlier time than usual, according to François Marchand, general manager at specialist developer Erna Low Property.
“Enquiries from savvy investors are up 20% year-on-year since the end of the summer,” he says. “Site visits have been taking place since the beginning of September.”
Marchand has identified a number of ‘hotspots’ for investors to consider in the French Alps. Châtel and Les Gets, both part of the Portes du Soleil ski area on the French/Swiss border, have seen an increase in the number of developments available. Other resorts for investors to look closely at, suggests Marchand, are Tignes les Brévières, which has long been popular with British buyers, and La Plagne.
“It appears that the French Alps is enjoying a renaissance as a favourite destination for first-time investors in France,” adds James Ross, sales manager at Erna Low.