More about L’Altima, the new luxury real estate project in Megève. You can see photos of the views from the actual plot. You can refer to the numbers on the general plan below and download the photos. Enjoy!
Each photo number refers to a number quoted on the image of the general plan above. The old storage constructions will be taken down to make way for the new luxury apartments and pools, see more info here.
Megève property for sale market and surroundings the new Alpine property area to invest in?
The Rothschild family created Megève to rival Saint Moritz in Switzerland and there has been a renewal in luxury property developments in Megève but also in the resorts nearby like Saint Gervais and Combloux. The new Four Seasons in Megeve is also starting the trend (or better said, continues the trend if we compare to Courchevel) for luxury hotel groups to start investing huge sums in the Alps. Also, the new fast train network which will link this area to Geneva including the airport is another top reason.
Hotel-Condo Hybrids, the future of property Investment In French Alps (and anywhere else…)?
Incidentally, Chalet Altima will propose a superb new hotel-condo hybrid product (only for a few of the apartments available) in the form of 2-bedroom apartments which can be divided into 2 suites for better rental optimisation. The 2 double bedroom apartment can be transformed into a junior suite with mainly a bedroom and bathroom but also into a master suite made of an extensive bedroom, a lounge area and bathroom (also a small coffee/kitchen corner). These apartments at Chalet Altima will remain freehold like any other property that you buy in France. We also have these hotel-condos in La Plagne and Combloux.
Hotel-Condo Hybrids, the new (and not so new) trend in the US
In Miami and Austin, the first two new developments of apartments by American developer in partnership with Airbnb have just been sold with a hotel license in place so that potential investors can surf the Airbnb wave fully-prepared for the future. This will give them the freedom to rent them out as much as they want. The French Alp market is a bit different as it is more the other way round usually where ski resorts try to attract more of these Airbnb tourists but the trend of short stays behind the Airbnb philosophy is pretty interesting and we can see it already for ski stays. These developers in the US are now teaming up with Airbnb directly to release more real estate projects.
Airbnb will be involved in some of the design decisions, and these new developments will staff to help with the rental management services on-site (a bit like an in-house concierge).
Even French leasebacks (for example La Restanque in Les 2 Alpes) offer more of a full rental income and then you can just book directly on the rental management company for a weekend or 3-4 day short stay if this is all you need. French leasebacks have had some bad press sometimes due to some of the rental management companies taking the owners for granted, unfortunately.
However, in the last few years, and when you keep away from some of the bad apples in French leaseback, the formula can be very interesting for today’s ski property investor for several reasons:
-Most of the bigger ski resorts in France now put in an obligation of rental for new properties as they want to avoid what they call “cold beds”, that is, empty apartments or chalets for most of the year.
-83% of British skiers go for 2 weeks’ skiing maximum each year so French leaseback properties are ideal with this setup.
-Because of this obligation of rental from minimum 9-11 years, launch prices per sqm are subsidised and lower than an outright. The reason is that the developer will pay less for the plot as the town hall will encourage this type of real estate (good for resort occupation and shops).
-For the same reason as the last point, the developer can get some really premium locations in the ski resort.
-You avoid paying 20% VAT from the start, no need to advance it when you buy into a French leaseback development ranked as such (Residence de tourisme in French)
-The rental income that you receive is tax-free in France from minimum 10 years thanks to the property amortisation (contact us and we will explain, we can even send you very complete spreadsheet reports.