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Alp is at hand

4th September 2008 | back to article listings BACK    print this article PRINT

For those investing in French property, the ideas of what to go for may come and go with the seasons and with events. Many might have thought most about the new opportunities presented by the establishment of northern France as a possible London commuter belt when the faster Eurostar service was launched last year. Similarly, those who think of buying on the Cote D'Azur may be those spending sunny summer days on the beaches there first.

In the case of the Alps, some investors may get ideas after spending time on their skis amid the pistes. But even though the transition from summer to autumn is barely upon us, now may be a good time to look at this region, according to new figures.

These come from Ascendant Property, which has produced some interesting figures on Property Wire. These indicate that the resale property price inflation rate in this part of France was healthy in the first quarter of 2008, at over three per cent in Haute-Savoie and 2.5 per cent in the Annecy area. Nor was this the whole story. New build has seen a four per cent rise, with a 5.6 per cent increase in the mountains and a 5.9 per cent jump in Annecy.

In the most popular resorts the levels of property price inflation in the quarter have been much higher yet, reflecting, Ascendant stated, their high quality and status as favourites with international buyers. Thus prices were up 13.8 per cent in Le Grand Bornand, close to 10.9 per cent at Morzine, 8.9 per cent in Chamonix Mont Blanc, 7.5 per cent in Megeve and almost 7.3 per cent in La Clusaz.

Such prices, Ascendant stated, were down to factors that are not time-limited, namely the stability of the French property market sustained by stricter lending criteria by banks and bigger deposits, as well as the sheer undersupply of property in the Alps.

Of course, an increase in the speed that one can get to the Alps may also help and in this respect investors may wish to look at the whole of France for developments. The government has announced new plans that, if passed, would see the TGV high-speed rail system more than doubled in size.

The new routes include Tours to Bordeaux, Paris to Strasbourg, Le Mans to Rennes, Dijon to Mulhouse, Bordeaux to Toulouse, Marseilles to Nice, Montpellier to Perpignan, Nimes to Montpellier and an international route - Bordeaux to Spain.

As the project is not yet rubber stamped and will take time to complete, this will not be an overnight investment opportunity. But those who do buy in such places may find themselves on a fast train to success in the years to come.

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