€1.0m+ chalet buyers opting to rent achieve 19.6% rebate on property price14 June
To ensure there is sufficient stock of rental accommodation in France’s biggest resorts, the French government provides a 19.6% VAT rebate on the purchase price of properties that are let out on the open market. Athena Advisors reports a 26% increase in chalet buyers who are choosing to rent out their property.
“Buyers of all types look to this option as it provides consistent returns, saves them almost a fifth of the property price and they are still able to use the property themselves,” commented Nicholas Leach at Athena Advisors. “However, rental management agencies can be stringent on which properties they will take on and the management lease must comply with French regulations. Location is paramount, but quality is equally important as the property needs to be able to cater for the modern day ski tourist.”
Athena Advisors is currently marketing a range of luxury ski chalets in the French Alps’ most popular resorts with prices ranging from €787,000 to €12.0m.