Ski resort boom brings good news for property investors - 13th January 2009

French ski resorts are reporting a boom start to the winter season which will come as welcome news to property investors with rental opportunities.

Major snowfalls in December made the Christmas and New Year season much busier than expected with resorts in the Alps, Pyrenees and other resorts 75 per cent full, according to Protourisme, a market analyst firm. 

One reason is that French families are choosing to holiday in France instead of going further afield and bookings for the February half term holidays are likely to be good too.

‘There has been an excellent start to the season. Since the end of November, there has been a double-digit jump in the number of bookings,’ said Didier Arino, manager of Protourisme.

‘The economic crisis is helping French vacation spots. The French are not going abroad as much. There are fewer Americans on the ski slopes this year but bookings from Spain, Britain and Belgium are strong while Russians who generally spend a fortune on ski holidays are still coming,’ he added.

Reservations over the February school break have soared compared with last year in lower-lying ski resorts and are also up in the bigger Alpine hotels and chalets.

And overall it could be a good year for the property sector in France despite the global economic downturn. Reports suggest that a combination of price reductions, cuts in interest rates and a good deal of properties on offers will make the real estate sector attractive.

Simon Conn, Conti’s Sales & Marketing Director, says:
“This is positive news for prospective buy-to-let investors, as a bolstered domestic ski tourism market should mean more demand for rental properties. However, it’s important to consider a property that can be enjoyed all year round so that you get the best chance of a good return on your investment. 

“The Alps, for example, are popular over all the seasons and attract walkers and climbers from the spring onwards, and golfers and cyclists in the summer.”