In the French Alps has began the construction of new chalet and apartment complexes. Increasing consumer demand in this segment is facilitated by low mortgage rates, as well as infrastructure development.
In Courchevel is already built a Spa centre and a Water Park. Val d'Isère has invested €16 million in the upgrade of lifting equipment, roads and restaurants. In Chamonix the plans are long-term - over the next 40 years for similar purposes will be spent €500 million.
Alps again become fashionable in the summer season: during the warm seasons you can make mountain biking or trailriding (running on natural terrain).
As for mortgage conditions, they become more attractive. A mortgage can be taken for 15 years with a fixed rate of just 1.4%. However, local banks are much more willing to issue small loans. According to Agence CAFPI, credit institutions of France better will approv 10 mortgages in the amount of €100,000 than 1 mortgage loan at €1 million.
Another incentive for buying is the proliferation of leasebacks investment scheme when the investor buy the premises to be leased to the developer. This strategy allows the new owner to fully cover the VAT. If the earlier contracts allowed the owners to reside in such real estate within 3-4 weeks of the year, now the length of stay increased to 26 weeks.
Based on the materials of propertywire.com
Photocredit Depositphotos.com