Renting the ski property to cover costs
Around 55% of Knight Frank’s buyers are looking to rent out their ski home. Few (around 10%) are buying solely for investment purposes; instead, most want their apartment or chalet to be cost-neutral. Most owners in the French Alps aim to cover their taxe foncière and taxe d’habitation, the property’s maintenance costs and ideally the flights and ski pass expenses for the family’s visit each year.
The summer aspect
The latest passenger numbers from Geneva and Lyon Airports provide positive news for those looking to rent. During the 2014/15 season, the two airports cumulatively saw a million more passengers arrive during the summer months (May to October) than they did during the winter ski season (November to April).
This deliberate re-branding of the Alps as a summer destination is also influencing buyers in Switzerland. The increasing number of top international schools, the provision of non-snow activities (hiking, cycling, golf etc), as well as cultural and music festivals has led some second-home buyers to look instead at permanent residency allowing them a greater choice in terms of properties, location and size.