New figures show that British buyers are responsible for more than a third of the total of property transactions in the French Alps.
Buying a rental property there can make good financial sense due to the increase in year-round skiing facilities, as well as the growth in summer tourism in the region based around various cultural events.
A case in point is Megève, located in the Rhône-Alpes region in south-eastern France. Originally conceived as a French alternative to Saint-Moritz when it was built in the 1920s, it can lay a genuine claim to being the location where luxury skiing holidays began.
The Old Town was the first purpose-built resort in the Alps and has been a favourite of European royalty for many years. Today it warrants the tag of a 'luxury' resort as reflected by the high-class discerning clientele.
Property prices in Megève jumped by 4.3 per cent between June 2010 to June 2011, the period for which most recent data is available, and has shown no signs of slowing during 2012.
With the French taxation system offering good amounts of relief offset on furnished rental properties under the BIC tax regime, as well as all mortgage interest, running costs and repairs and various financial fees, the overall picture is one that can be very appealing for the overseas investor.
Megève is part of the Evasion Mont Blanc ski area, which means there is easy access to Mont D’arbois, Rochebrune and Le Jaillet and to the 100 lifts which serve nearly 500 km of pistes.
As with any property transactions within the Euro zone, there are both pitfalls and positives when it comes to moving money from country to country.
If you are considering transferring money abroad, which you will need to do if you are considering overseas property investment, be sure to compare prices to get the best deal.
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