Winter Olympics Boosting French Alpine Property
The Winter Olympic’s TV Coverage Impact On Investment
Foreign investments in the French Alps thanks to the attractive French real estate property and French mortgages
Following the Winter Olympics’ TV coverage, more and more people are investing in the French Alps especially among British people as France is considered as their top destination due to the attractive French real estate property and French mortgages. Regarding Russian property investors, they are more likely interested in investing property in Bulgaria, Turkey, and Spain according to some agents but the Winter Olympics in city of Sochi might not influence the performance of these countries’ housing market. In reference to the Opp-Connect newspaper, interviewing the MGM French Properties, revealed that in Britain, “coverage of the Winter Olympics has boosted awareness of French Alpine ski property and sales are set to reach an all-time high in 2014.”
In addition, the newspaper highlighted the fact that “media coverage of the Sochi Olympics has helped to put winter sports in everybody’s minds and the sustained improvement in the exchange rate, with more than €1.2 to the pound, has combined with the UK’s brighter economic outlook to give would-be buyers the confidence to act now.”
High Investment in Chamonix
Half of the foreign investors purchases in cash and others choose low-interest French Mortgage
Agents underlined that foreign investors are increasingly spending around €450,000-€500,000 on a French property, half of them buy in cash and others are choosing a low-interest French mortgage. The huge rise in interest and investors in the French Alpine property encouraged agents to announce the building projects of the first five-star ‘résidence de tourisme’ of Chamonix.
The French Alpine property is also boosted by the historically low interest rates and the French euro mortgages. They do not face currency exchange rates as rental income and repayments are in euros.