Athena Advisors - Partner Newsletter - November 2013
The pre-season interest we saw last month from our partners is already transforming into sales with particular activity in ski properties above the €1m mark. The appetite at the upper end of the market is split between newly built properties and purchase-renovation properties, where a buyer takes on the shell of a property and commissions their own interior build.
The big locations like Val d'Isere, Courchevel and Meribel remain popular as always but sister resorts are also seeing an upswing, simply due to the value available. An example here would be Combloux which is almost as idyllic as Megeve, enjoys the same skiing, but is 30-50% cheaper.
There's now only four good selling weeks remaining until Christmas so we look forward to helping you serve your clients any way we can.
We now have a full time presence in the Alps. Charles-Antoine, who was previously based in our London office, is now available to help assist qualified clients on viewing trips over the coming season. If you have clients who want to view a property in the Alps over the next few months please get in contact by email on email@example.com
Over the past few years Chatel, in Portes du Soleil, has cemented itself as one of our best locations. Clients love this resort, it's cheaper than Portes du Soleil neighbours like Les Gets, but has retained its true Savoyard charm. It also still has amazing potential considering the relative maturity of the market.
In response to continued demand for Chatel, we now have access to enough products to provide a dedicated property search. Our team on the ground in the alps can help your clients select the best opportunity from our wide range of apartments and high-end chalets in this fabulous resort.
For the time of year the market is very active at the moment, and remains so particularly at the higher end. However, since October we've seen this market split into two; with budgets above €1m and then above €5m. As wealth tax is now an issue for people buying at this end, we're working on a lot more work on private banking deals/transaction arrangements which also offer better rates than the open market.
In general, with the recent ECB base drop mortgages rates are likely to stay lower for longer, making the low variable rates become more attractive options for some. This is likely to result in higher activity in the sales market so people will need to move fast to avoid missed opportunities.
We all know the south of France, the nightlife sun and culture it offers to, but there is also another side, one that revolves entirely around business. The Cote d'Azur is the second most popular destination for the conference and exhibition industry in the country. At the heart of this industry, and at the heart of the region too is Sophia Antipolis, Europe's largest science and technology park.
Dubbed France's Silicon Valley, Sophia Antipolis has attracted big names in high technology over the past 40 years, including Amadeus, Cisco, IBM, Microsoft, SAP, Siemens and Thales. It is here where a new type of investment opportunity is just being launched, specifically designed to cater for this market.