In a resort undergoing massive transformation, Les Praz de Megève is a new-build project consisting of five buildings divided into 54 apartments and 6 individual chalets, located in a ski-in ski-out position in Praz-sur-Arly, French Alps.
Why is this opportunity so exciting?
What makes those properties exceptional is their location, right on the front de neige of Praz-sur-Arly. At the foot of the slopes, two ski lifts are just 200 metres away from the property. The centre of the village is also easily accessible at just five minutes by foot.
Praz-sur-Arly is set to be completely renovated within the next five years as plans have been approved to inject €62m into the front de neige, the ski area and the centre of the village. This area in particular will gain further traction with the opening of new shops, sledge areas, a children’s garden, an events venue, and a hotel, amongst many other amenities. With such improvements, capital appreciation can be expected as the front de neige becomes even more attractive to holidaymakers.
What is the investment potential?
In addition to benefiting from a special rental obligation status, these apartments will be managed by a renowned rental management company, helping future owners to generate high rental yields up to 5%. Some apartments will also be available with a freehold status, free from any rental obligation.
The properties will benefit from five-star services and facilities, and it will be possible to have a rebate equivalent to 20% of the property price under certain conditions. While property prices in the neighbouring resort of Megève can sometimes reach €20,000 per sqm, this project is priced €8,000 per sqm whilst offering the large ski domain Espace Diamants at its doorstep.
What about the properties?
The 1 to 3-bed apartments and 4 and 5-bed chalets all have access to outside space to enjoy the views over the mountains. Traditional construction and quality materials will be used including bespoke wood, marble and oak parquet flooring.
The apartments offer spacious living areas with large glass windows and spacious fireplaces to enjoy family time after a day on the pistes. The bathrooms and open kitchens are fully equipped, whilst the development also offers a wellness area with an indoor pool, jacuzzi, sauna, steam room and gym. There is also a concierge service available on site for all residents.
Praz-sur-Arly is a picturesque village that provides a more affordable alternative to Megève and Chamonix. The resort is currently celebrating its 80th anniversary and is part of the Espace Diamant ski domain that benefits from more than 200 km of skiing.
Situated at an ideal altitude between the Beaufortain mountains and Val d’Arly, the area offers numerous activities including horseback riding, mountain biking, hiking, alpine slides, paragliding, canyoning, and swimming in lakes.