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Wednesday, February 21, 2024
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    Tax savvy ways to speculate in a ski chalet within the French Alps

    Snow has already been falling within the Alps and plenty of of us are dusting off our ski boots, hoping it’ll stay that way.

    Yet buying a house within the mountains has turn into about greater than just the skiing. The adage “I got here for the winter and stayed for the summer” has never been truer.

    Property prices boomed in the course of the pandemic and plenty of local and international buyers bought alpine properties as dual-season investments.

    Based on Knight Frank’s Ski Report 2024, the value of a ski home has increased by 19pc on average within the last five years. It also reports that the standard 10-15 weeks rental per yr a decade ago is now often nearer 30.

    Rental returns have gotten more necessary to buyers, says Guy Murdoch, manager of Savills French Alps desk: “80pc to 90pc of our buyers within the Alps wish to rent out their home.”

    Profitability but in addition tax efficiency are key considerations for a lot of, agrees Chris Thompson, of high-end rental specialist OVO Network, who advise ski buyers and owners. “This yr we’ve signed on greater than 40 recent properties, owned by the British and French, our greatest yet.”

    So, what are the secrets to having a successful ski chalet investment?

    Go high or go low?

    Selecting the suitable location is essential: do you select a high-altitude resort that’s pretty lifeless outside the winter, or a lower resort with a vibrant summer scene?

    Giles Gale, of Alpine Property Finders, says: “Premium rents within the prime high-altitude ski regions reminiscent of Three Valleys or Paradiski can often guarantee a solid 10-12 weeks’ winter rental and top prices. Or in lower resorts, like those within the Portes du Soleil, the summer season can account for 50pc of overnight stays.”

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