MGM development in Chantemerle, Serre Chevalier

I read this today….in The Irish Independent.

A NEW holiday apartment development in the French Alps, close to the highest town in Europe, is currently being offered to those who enjoy outdoor activities ranging from skiing to white water rafting. It also has all year round rental potential.

The apartments are being built in a development known as Le Hameau du Rocher Blanc in the rustic village of Chantemerle, close to the town of Briancon. In the winter the village links with 12 others to create the ski resort of Serre Chevalier to offer 250 kms of piste with slopes at altitudes of 2,800 metres.

Briancon's claim to being the highest town in Europe is based on its altitude of 1,320 metres above sea level.

It is a year-round attraction with historic drawbridges, cobbled steps, squares with fountains, and underground passages.

The resort is being developed by MGM as a seven chalet project comprising 78 apartments which range in size from 50 sqm two bedroom apartments to four bedroom, two-bathrooom duplex homes of up to 105 sqm. They have pine finishes with tiled and parquet floors.

Facilities in the resort also include a heated pool, jacuzzi and sauna.

The nearest airports are at Grenoble and Turin which are both two hours away by road.

Outdoor activities include hiking, mountain biking, horse riding and it is close to centres for paragliding,and fishing.

Summers in the French alps are warmer than many people expect with temperatures as high as 30c in August.

According to Natali Turchet, MGM's sales manager, the ski resort of Serre-Chevalier is gaining in popularity and is set to become one of the biggest names in the French Alps.

Current prices for two bedroom apartments start at 248,000 plus VAT which can be waived under the leaseback scheme. The four bedroom duplexes are selling for 526,000 plus VAT.

Purchasers are offered a 30% price reduction incorporating the waiver of the 19.6% VAT if they opt for a leaseback deal whereby they can have the use of the property for six weeks but will not receive any rent.

Alternatively they can opt for the VAT free option and receive the rent while using it for three weeks per year for the 11 years.