alpine property sales up as resorts increase year round appeal
News Posted On: 04 November 2011
Alpine property is increasingly being seen as a good investment opportunity with solid year round rental demand and Austria offering the greatest rental yield during winter. Savill's Residential Research found that in spite of fewer UK homeowners buying second homes between 2009 and 2011, those who are doing so are tending to invest more in ski properties.
Buying Alpine property has become a lot more popular over the last 10 years as it is seen as an ideal lifestyle choice and investment opportunity. Owners get to use the property whenever they want, and especially during the expensive ski season, but have the choice of letting it out when it isn't being used, generating good rental income. However leaseback deals remain popular where buyers get only a given period of usage, in return for a government-backed rental guarantee.
Although ski tourism has declined by 26% since its peak in the 2007 and 2008 winter season, when the Alpine area was visited by 1.2 million tourists, many resorts are now expanding their summer offering and increasing year round rental potential.
French and Swiss properties remain the most popular, not least because they are now seen as investment safe-havens against the financial turmoil of today. This has been especially true of Switzerland lately, because of the safety of its currency, especially against the Euro.
Swiss property has also seen its affordability boosted by the recent decision to cap its rate against the Euro. A duplex which cost £630,000 in August will now cost just £525,000. However, France is still top-dog overall, despite destinations like Austria being much more affordable.
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Written by Les Calvert
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