One thousand new ski properties for France

French property developer MGM Group is set to build more than a thousand new ski resort properties in the French Alps in a bid to keep pace with growing demand. According to a recent Propertywire.com report, it plans to start work on new schemes in 11 locations as soon as this winter's ski season is over. And the new developments will be state of the art in terms of sustainability and fuel economy.

Richard Deans of MGM's UK sales office in London says that, for the company, this will be the biggest ever number of new developments to get underway in a single year.

"Several factors have combined to achieve this. Planning applications which have taken some time to reach the approval stage now have the go-ahead and, with market growth across the French Alps gaining momentum, we decided to draw a higher than usual number of sites from our land bank so that we can start creating new apartments for occupation in less than two years from now," he explains.

All of the new developments will be residences de tourisme with the properties available being sold on a leaseback basis. This enables purchasers to receive a guaranteed annual rental income during the first 11 years of their ownership while also enjoying several weeks of personal use of their property each year.

Some of the new residences will be built in resorts and villages where MGM already has a strong track record of successful development. They include Tignes, Samoens, Cohennoz, Les Carroz and St Martin de Belleville. Others, which are new locations for the company, include Combloux, Chatel and Valmorel.

France, already the first choice location for Conti clients, is increasingly popular with British buyers when it comes to ski properties. Based on recent mortgage enquiries, the Rhône-Alpes region is second top on Conti's French hot spots list.

Clare Nessling, Conti's Operations Director, says: "Proximity is a key factor. Many resorts in the French Alps are just one hour by road from Geneva airport, and flights from the UK are quick and widely available. More than 40 per cent of British skiers already holiday in France, so rental opportunities are good. It's also fortunate that the Alps are popular over all the seasons, attracting walkers and climbers from the spring onwards, and golfers and cyclists in the summer."

"This, together with a stronger pound and historically low French mortgage rates, makes investment in French property even more attractive."