So you’re dreaming of buying a property in the Alps for the quality of life, getting closer to fresh air nature and the ski slopes, escaping the city and all the activities this area can offer.
Your budget is about €1m, you’ve started to look into it, but you haven’t yet decided whether you’d prefer a flat or a chalet in the mountains.
Where should you look – the heart of a ski resort or a property in the countryside surrounded by nature? What sort of size should you be looking at? How would you use it – a rental investment or a family property? Alpine Property, OVO Network’s real estate partner, can support you with your search, and help you make the most of your Alpine investment. In this post, we share an introduction to where, what and how to invest your €1m in the Alps…
Where can you find a property for between €1m and €2m?
There’s a wide range of destinations in the Alps where you can invest €1m or more including:
- Châtel
- Morzine
- Les Gets
- Samoëns
- Les Carroz
- Chamonix
- St Gervais / Les Contamines
- Megève
- Le Grand-Bornand
- La Clusaz
…plus many more!
If you’re working with a budget of €1m to invest in the Alps, you’ll need to appreciate that it will only buy you a smaller or perhaps less luxurious property in the popular resorts.
The higher the demand, the more expensive the property. However, if you opt for a less well-known destination, you’ll be able to buy a larger or more luxurious property. This is the case in St Jean d’Aulps, an alpine village part of the Portes du Soleil ski domaine.
What sort of property can you get for €1-2m?
With this sort of budget to invest in the Alps, you could buy a nice apartment in the centre of one of the more popular resorts, or a pretty Alpine chalet a little further out.
On the other hand, it isn’t always easy to find farms suitable for renovation. Land has become just as scarce, so it would be easier to buy a ready-built chalet or apartment in many cases.
What size property could you buy in the Alps?
You’ll need to budget between €10,000 and €20,000 per m² in the centre of the resorts. Outside of the main resorts, the price per m² will be lower: it varies between €6-8,000.
In the less well-known areas, you can hope to buy a mid-range property for less than €6,000/m². So you can buy a chalet or a flat for your €1m, but the surface area will depend on the location of the property.
How would you use your property?
Before you invest your €1m in the Alps, think about how you would use your property.
Are you planning on buying a holiday property just for your family holidays in the mountains? If that is the case, it’s a good idea to look at how it gets the sun. Are the windows in the right places? Do you like the outdoor areas? You’ll probably spend more time outside than inside in the summer – so these are important considerations. Plus, check that the property has all the storage space you and your family require.
If it’s purely a rental investment, sunshine and storage may be less important. In this case, the distance between the accommodation and the slopes will be your main selling point. Additional equipment such as a hot tub, sauna, home cinema, games room or gym etc could make all the difference to a potential guest looking for a property. This should be taken into account when you make your investment.
Buy new or renovate?
Many of the most popular ski resorts are now heavily developed. In general, when an investor buys a mid-range property, it will be knocked down and replaced with a luxury property.
In this case, the developer is just buying a plot of land, knowing full well that the building is worthless (too old and requiring too much work). They will then build a new property in its place.
In this example, the investor will have spent €2m for the land and the former property, and will have to spend another €1m to build the new property – a total investment of €3m!
So, that was an introduction to what you can buy for €1-2m in the Alps. If you’re at the beginning of your search, make sure to check out our properties for sale page, where you can find your next investment opportunity. Or, if you’ve already purchased a property, don’t hesitate to get in touch with the team at OVO Network to discuss the next steps for your rental project.
