MGM to build new homes in French Alps

MGM to build new homes in French Alps

French property developer MGM will aim to encourage more Brits to buy some of the 86 apartments the company will start building at little-known Valmorel, a ski resort within the Grand Domaine area of the French Alps, in the spring.

The new French homes will form part of a new residence de tourisme – La Grange aux Fees – located alongside the chairlift offering easy access to the resort's 150 kilometres of pistes.

MGM's leaseback apartments, which range in size from 25 square metre studios to 100 square metre four-bedroom duplexes, are available now to buy off-plan, with prices starting from £180,000 for a one-bedroom apartment rising to £440,000 for a four-bedroom, three-bathroom property. Prices exclude French VAT at 19.6 per cent which is waived under the leaseback scheme.

Also included in the price, is underground parking and cellar storage as well as use of locker rooms, a laundry and drying rooms. Four-star facilities within the residence will include an indoor pool, fitness suite, gym, sauna, jacuzzi and steam rooms, as well as a beauty centre with a variety of massages and treatments on offer.

The new build apartments are expected to be ready for occupation in December 2012.

To read our guide to buying in France, click here.


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