In the post-bonus era, one of the first things to go is the chalet. Ski-homeowners who bought when the going was good but now want to offload their Alpine second homes have already begun to enlist the help of agents, according to ski property experts.
Turmoil in the banking sector has left some resorts looking more wilderness than wonderland as European banks have backed out of lending agreements on developments, leaving owners short of finance and new homes half-finished. However, the good news for buyers is that sellers in some resorts will now accept much lower offers. In fact, sterling's decline is said to be encouraging some owners to make even larger reductions. Such is the supply of good-value property that one ski-home specialist, Erna Low, has even opened a new office in Arc 1950, a resort in the French Alps that specialises in resale properties.
“There have been some interesting changes as the previously overheated market has corrected itself,” says Bertie Sanderson, the director of Erna Low Property. “Vendors have corrected their prices and there are some super bargains to be had.”
This week the Alpine ski resorts opened to fantastic snowfall. And, despite the economic gloom, skiiers are still flocking to the Alps:
Article from The times, 12.12.08 |
