By Claire Carponen
The French Alps have long been a favorite among British buyers. They’re easily accessible from Britain, are home to the world’s largest ski area—known as the Three Valleys—and are more affordable than Switzerland. But concerns about Brexit have made would-be second-home buyers hesitant about purchasing in France, and some holiday homeowners are choosing to sell their chalets because the euro is strong, according to agents.
Meanwhile, the Swiss market is seeing an increase in British buyers, who are wary of buying in places with the euro due to the upcoming Brexit, said Simon Malster, from Investors in Property.
“The strength of the Swiss franc is legendary and buyers are seeing it as a solid currency to invest in,” he said.
Agents say the majority of second-home owners buying in the Alps plan to rent their property and want to know if they can make enough income to cover the running costs. They are looking for evidence of the resort’s desirability year round and whether it is renewing their ski infrastructure and investing in non-ski activities.
According to Knight Frank’s most recent Ski Property Report, which was released earlier this week, France’s Chamonix leads in price growth in 2017 as compared to 2016, with prime prices up 4.8% in the year to June 2017. Chamonix, the report said, has now seen prime prices increase by almost 5% for two consecutive years.
Below, we look at what’s happening in the market in some of the best resorts in the European Alps.
Location: St. Moritz, Switzerland
Price: CHF 740,000 to CHF 9.9 million (US$759,052 to US$10.15 million)
The former La Margna hotel, built in 1906, is being restored and extended by the luxury hotel group Grace Hotels to create a hotel and 17 apartments, which range from studio flats to a four-bedroom mezzanine penthouse. The apartments will have full access to the hotel’s spa and fitness center, restaurants, martini and cigar bar and 24-hour concierge.
Location: Chamonix, France
Price: €6.3 million (US$6.7 million)This six-bedroom, new-build chalet has been well insulated and features a geothermal heating system. The 4,500-square-foot home has an open plan living/dining room, separate kitchen, an indoor swimming pool with large doors leading out to the garden, a cinema room, gym and spa with sauna, steam room and a rainforest shower.
Location: Courchevel 1850, France
Prices: From €1.5 million to €8.8 million (US$1.7 million to US$10.3 million)
Six Senses Residences Courchevel is a new development of 53 one- to five-bedroom apartments and penthouses, which are managed by Six Senses, a luxury hotel and spa brand. Housed in five linked chalets, the properties have a cellar/storage room for ski gear and residents have access to the in-house spa, 24-hour concierge and ski lockers.
Location: Verbier, Switzerland
Price: CHF 12.5 million (US$12.8 million)
A fully furnished five-bedroom duplex apartment, Chalet Aquila has a convenient location—it is in the center of Verbier and a minute from the Medran lift, the main lift in the ski resort. It has a large living area with a wooden vaulted ceiling and access to a south-facing balcony, underground parking and a heated boot room. The building has a 24-hour concierge and a communal spa, hammam and gym.
Location: Zermatt, Switzerland
Price: CHF 15 million (US$15.3 million)
A 5,380-square-meter chalet in the Petit Village area of Zermatt, Chalet Maurice is currently the only property for sale in Zermatt that is available to non residents. The three-story house has six en-suite bedrooms, lift access to all floors and a wellness suite with a sauna and massage room, and an outdoor hot tub, along with south-facing balconies with views of the Matterhorn.
Location: Meribel, France
Price: From €544,900 (US$558,929)
Four four-bedroom apartments in the new Les Chalets d’Olympes development have recently launched to the market. Scheduled to be completed next year, the homes have cozy wooden interiors, decked balconies and terraces, and are located 150 meters from the cable car in Meribel.