This review has been posted by JC Skiera with Winkworth, our UK partners.
“After a poor second half of 2008, French ski resorts are witnessing an unexpected but welcome soft landing. In spite of negative economic data, recent price falls have spurred buying interest in previously unaffordable “niche” areas. This is particularly evident in prime locations within famous destinations such as Chamonix, Megève, Morzine and Samoëns. Central locations and quality properties – ideally both – are now supported by attractive rental returns and the sub 500,000 euros market is showing encouraging signs of life, with transactions in January and February exceeding expectations. New properties have been the worst affected by the downturn and are now looking far more appealing as developers are offering large price drops and incentives in order to sell their inventory. France has not suffered from a credit crunch and interest rates are still falling, which in turn ought to be reflected in healthier demand as we progress further into 2009.”