'new breed' of UK investor hits french alps property market

A new breed of British investors is taking a growing interest in acquiring overseas properties in the French Alps, especially at the top ski resorts.

"It’s clear that a surge in sales since the New Year has been driven by a group of British investors who, for the first time in some cases, realise that putting their money into bricks and mortar in popular ski resorts can offer better returns than the continuing uncertainties of the stock market," Richard Deans of local agency MGM French Properties told OPP this week.

"If these investors opt for an apartment in a résidence de tourisme, like MGM’s Le Centaure, nearing completion in Flaine, they can be assured of a rental yield of around two per cent – and that’s after they have paid the annual maintenance charges," says Deans.

Source: OPP.org.uk