Ski chalet buyers return in force to French property market15 June
After a 25% fall in France-wide property transactions following the appointment of Francois Hollande in 2012 and the introduction of his tax changes, sales are increasing, especially in the high-end ski chalet market. Athena Advisors reports that sales of French ski chalets above €1.0m are up 32% on last year’s figures. Nicholas Leach, Partner at Athena Advisors comments: “There has been an unusually high amount of single-dwelling development in the alps over the last year. At least three times the number of chalets have been built compared with recent years. This is largely due to the pent up demand as a result of a large volume of buyers sitting on the fence for so long and now jumping off. This rush to the market has created a lot of demand for a limited supply.” “The big popular resorts have seen most development. For example in Val d’Isere normally just two or three properties are built each season, yet last year eight were built in one project alone and we’ve sold all but one of these already.” The requirements of a modern day ski chalet “Hot tubs, après-ski bars and wellness facilities are now simple must-haves, its things like exterior under-floor heating, alternative sports facilities and behavioural lighting which are the new desires.” “It’s not all simply about personal enjoyment and satisfaction, top end buyers understand that a more luxurious property will command a higher rental for bookings. The chalet rental market is extremely demanding and only a few properties in each resort can compete at this level.” Where are people buying luxury chalets? “The big resorts like Megève and Val d’Isere still retain their appeal, but neighbouring resorts which were previously less desirable are now becoming popular. Top end clients buying in locations like this are making a value play, property prices are cheaper which means they have more budget for tailoring their property.” “Combloux in the Evasion Mont Blanc domain is at least 50% cheaper than Megève, yet its only 4km away and has direct access to the same ski domain. The resort is equally beautiful too.” A great example of this new benchmark in luxury ski chalets is the brand new chalet husky in Val d’Isere, within the Espace Killy mountain range. This 7 bedroom chalet across 609 sqm (6,555 sq ft) of living space, has been designed and built by Jean-Charles Covarel and comes complete with a 32 sqm swimming pool and full array of wellness facilities. Located within quiet private ‘hameau’ of chalets just 300m from the centre of Val d’Isere, the property can also accessed via the mountain to rear of property (ski-in). Chalet Husky takes the term ‘Apres ski’ on to a new level with dedicated bar, archery and pistol range, and indoor climbing wall. The two-storey indoor atrium garden floods natural light into the property and a glass footbridge stretches across this space connecting the various living areas. Priced at €12.0m Chalet Husky is the largest chalet of the Le Petit Alaska collection. Recently delivered (Mid Dec 2013), it is the largest newly built chalet available in the resort and in our opinion it’s the best ski chalet currently available in the French Alps. Chalet Husky – an overview 7 bedrooms, 609 sqm living space - €12m 32 sqm private swimming pool with glass walls and waterfall Indoor atrium garden (27 sqm) – a glass walkway bridges this area connecting the 1st floor levels Climbing wall & shooting range (inside) 1st floor Lounge, Kitchen, Dining & Bar combine to create a 200 sqm living area unlike anything else available in the alps. Could generate (for investors) €300k in rental over ski season Separate sauna, Hammam, Jacuzzi, wellness area for treatments, relaxation area next to swimming pool & gym room. All habitable rooms have access to natural light (very rare for 7 bed chalet this big) Private lift access from underground parking iPads in all rooms to control light, heating, etc – to achieve the level of functionality he wanted he chose an automation system normally used for industrial purposes, not residential (still user friendly though) Inspired? Take a look at our full selection of chalets for sale in Val d'Isère.