Buying ski homes in Switzerland is a notoriously tricky process with foreign ownership rights changing from canton to canton. However, a ski-in/ski-out development in the 4 Valleys ski area has launched which offers people the chance to buy apartments on a leaseback basis.
The 5* development ‘Les Mayens d’Hérémence’ is located in the picture-perfect alpine village of Les Masses, linked to Verbier to form part of the 4 Valleys ski area of 410km of slopes. A freehold purchase of an apartment at Les Mayens d’ Hérémence comes attached with a 15 year management lease to provide the buyer with a guaranteed index-linked rental return for its duration.
The idea mirrors the French leaseback (residence de tourism) system, providing the investor with an annual guaranteed rental return of, in this case, up to 3.5% of the purchase price.
‘Les Mayens d’Hérémence offers a rare chance to own in the 4 Valleys, where planning and development are not often granted’ says Joanna Yellowlees-Bound, CEO of Erna Low Property. ‘Verbier currently offers very limited opportunities to purchase due to heavy construction regulations but incredible demand to own in this fantastic ski area has been met by the release of these apartments offering an alternative to owning in sought after Verbier itself.’
Les Mayens d’Hérémence will feature 64 high end furnished apartments spread over three buildings all boasting complete ski-in ski-out access, with large south east facing windows looking over the Matterhorn. 5* facilities include spa, (indoor pool, steam rooms sauna and spa treatment rooms), bar and restaurant as well as the residences’ own ski hire shop and lift pass office. Complete underground parking ensures the development stays car free.
Completion is expected in winter 2010 and the properties range from two bedroom apartments up to four bedroom duplexes with prices starting from CHF 748 000 (£444,321) for a two bedroom apartment measuring 75msq including ski locker, parking space and owner’s storage.
Nearest airports: Geneva (2.5 hours) and Sion (UK flights expected in 2010 – only 30 minutes away).
Erna Low Property www.ernalowproperty.co.uk; 020 7590 1624