New resorts being built lower down the slopes have lower prices and year-round appeal
The closest I had come to skiing before was watching a video of my sister on a school ski holiday gliding down a green run on her backside. So I headed off with some trepidation to the French Alps for my first real ski experience. I need not have worried, however. It takes little to win a convert to the Alps. The skiing wasn't so bad - but more importantly, the Alps themselves have changed.
The snow is still there - despite concerns about global warming and the falling levels of snow - but prices have been rising rapidly in the high reaches of the mountains. This is because of strict planning regulations, the shortage of land for development and the growing attention of monied Russian buyers in resorts such as Courchevel. Nigel Hindle, which combs the Alps for property for private clients, says: "Prices have definitely risen, particularly at the top end of the market in the high-altitude resorts."
So what are British families with more modest aspirations - especially those with energetic children in tow and with the half-term break approaching - to do? The Alps, particularly the French side, which have always had a strong appeal for Britons, are getting a makeover: they are being repackaged as a year-round destination. Developers are recognising that a new breed of purchaser is on the market and are setting their sights on villages lower down.
MGM, one of the largest developers in the Alps, has ventured into villages such as Crest Voland, Sainte Foy en Tarentaise and Bisanne, which are all between 1,500m (4,900ft) and 1,600m. Here, the snow is perfect for any beginners on the slopes. Just as important, there is still a village atmosphere here and chalets have been designed in styles reflecting local architectural traditions using local material where possible. The exteriors are finished in timber and local stone, while the interiors are in traditional pine. All apartments and chalets have balconies with views of the finest mountain settings in Europe.
With good access to the higher areas and with far lower prices, these lower areas have a strong appeal for British families. Property values are predicted to rise here, as the area has now been linked to the Espace Diamant area, creating a total skiing area of 185km (115 miles). There are plans for further links with Megève and Les Contamines, which may send prices even higher. Even in summer, when temperatures rise to 30C (85F), there is plenty to do: activities include horseriding, mountain biking, climbing and swimming.
More committed skiiers with bigger budgets will find plenty of activity in the high-altitude resorts, such as La Plagne or Tignes. In these purpose-built, ski-in ski-out resorts the rabbit-hutch, 1970s-built apartments are slowly being knocked down and replaced with bigger modern homes - with shops, cafés, Roman-style pools and spas, for those who are less ski-mad.
David Giraud, the MGM president, has noticed a change in the type of visitor to the French Alps. "In the past people came to the mountains simply to ski from morning until night. Now they are coming here all year round for the quality of air, so we, as developers, have to acknowledge this."
Even the winter months offer alternative activities. For those seeking an adrenalin rush, there is ice diving in Tignes or a chance to take the Olympic bobsleigh run at La Plagne - which I can personally recommmend. Even the high-altitude resorts cater for summer visits: Tignes is next to the Vanoise National Park, making it a popular centre for walking and hiking and there is a lakeside 18-hole golf course.
The higher altitude resorts may be a better investment opportunity if you are not likely to use the property a great deal, as the snow-sure areas have a larger demand for rented accommodation. However, the smart money is heading to the lower villages, where the local lifestyle is becoming a very attractive package.
FACT FILE
Most new property in the French Alps is sold under a leaseback scheme. MGM has three options:
Lease with rental income: owner receives rental income and retains four weeks' use of the property
Lease with price reduction: price is reduced by 30 per cent, no rental income but the owner has six weeks' use Leaseback partnership: owner becomes a shareholder in the development, receiving a share of the total profit from rentals earned. Unlimited use
Lorna Blackwood, The Times
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