We chatted to Steve Thomas, Alpine Property Investments, on hunting for a dreamy property in the French Alps.
On 28th September, SnowOnly participated in the biannual Your Overseas Home Virtual Event. The event was free to attend and hosted entirely online. Its purpose is to fill international buyers in on a range of topics to set them on the path for a smooth, safe property purchase. Topics include managing currency risk, residency & citizenship, and mortgages.
For the first time, SnowOnly joined the Your Overseas Home Virtual Event, hosting a range of seminars on purchasing a ski property. We chatted to Steve Thomas from Alpine Property Investments on the perks of owning a ski home in France. Steve has been to about 75% of France’s ski resorts, making him perfectly positioned for providing insight on the best areas to buy and what kind of home to buy.
What are the key attractions of owning a ski home, especially after Covid?
Since Covid, many buyers were motivated to buy a ski home simply for the fresh air and stunning views. It surprises many people, but a lot of the resorts benefit from 300+ days of sunshine.
In the summertime, this is complemented by low humidity and a light breeze, making it ideal weather for cycling and hiking. In the winter, the sunshine is beautiful as you speed (or slowly descend) down the slopes.
Have you seen a big surge in buyers looking for resorts that offer dual seasons?
Those after a dual season ski home is certainly on the rise. Many resorts offer incredible outdoor activities in the summertime, inspired by the Tour de France, bike parks have evolved significantly.
However, some resorts are geared primarily to providing the best winter experience, those tend to be at the highest altitudes.
Could you give us an overview of the ski property market at the moment?
The French ski property market is in a very good place and always is. It was not impacted by the financial crash in 2008, and sales were still made during the pandemic, they were just held over videocall. The market tends to bubble along, with no huge lows or highs.
Of course, there are well-known, expensive areas to buy that promise a strong ROI, such as Méribel and Val-d'Isère. However, there are a growing number of areas that are offer more affordable property saddled with a rising ROI, like Samoëns.
What should you look for in an area to ensure good property growth?
The answer is different for the already established, desired areas and those that are in development. With Méribel, and other areas with a similarly enormous reputation, prices are always on the rise, as there is such high demand and limited land to accommodate interest.
On the hand, if you are deciding between resorts that are up-and-coming, it’s a good idea to look into when they are due to have improvements to their infrastructure. For example, are the lifts being upgraded? Is a train station due to be built nearby? Changes like these can drastically change the price of ski property in just a few years.
Steve’s recommended resort:
Many international buyers are drawn to buying in holiday favourites like Val-d'Isère but there are terrific resorts that may not be on their radar yet.
Every year, Steve heads out to Les Sybelles, it is the fourth largest linked ski area in France (and the seventh in Europe). It has yet to become a hit with international skiers, around 75% of its visitors are French. Les Sybelles is extensive, snow sure, with five airports within a two-and-a-half-hour drive (Chambéry Airport is just 70 minutes). Established in 2003, it has amazing, modern infrastructure and plenty of investment in the pipeline.
What to look for in a ski property:
What you are after in the property itself will depend on what you intend to use it for. Perhaps it is purely an investment or maybe you are retiring soon and want to spend some, or even all, your time there. Giving that considerable thought will lead your property search.
Many buyers are led by factors such as wanting to be close to an airport, in which case resorts like Morzine, Châtel and Samoëns are great for being in easy distance of Geneva airport. Head here for our pick of five resorts within an hour’s drive of the airport.
Other property features that people are after is a mountain view, the right orientation, a pet-friendly property with garden space, and facilities like a spa and pool.
Currently, 80% of buyers working with Alpine Property Investments are after a new build. This is because they do not want the hassle of a leaky roof or plumbing problems. Especially for those that live overseas and cannot easily tend to issues, a home that runs smoothly is a top priority.
Steve’s tip for prospective buyers:
Before you head out to France to view properties, do as much research as you can, or you will get overwhelmed by choice and probably not be in a place to make any decisions. Instead, narrow down the area and resort for you, from home. Then, in person, you can really drill down into deciding the property features that you are after.