New Ski in Ski out 4 and 5 bedroom chalets for sale in Sainte Foy in the heart of the Tarentaise Valley, France.
Les Hauts du Monal is an exclusive development of just 11 chalets gathered together in the style of a traditional alpine hamlet, in a commanding location with wonderful mountain views. The chalets have immediate access to the slopes of Sainte Foy and are just a short distance from the chairlifts, restaurants and shops. The First 5 Chalets are under construction and will be ready for June 2018 and the final 6 will be completed the following year.
The chalets blend traditional Savoyard architecture with modern and stylish interiors. The materials used include local stone for the walls, hardwood for the carpentry, slate tiles for the roof, all applied by local craftsmen.
Each chalet is south facing and has 2-3 levels with living areas of between 150 sqm and 250 sqm. The ground floor includes spaces for storage, a ski locker and each has an underground parking space which are accessed by a lift, additional spaces can be purchased subject to availability. Owners have a number of choices for interior finishes such as 3 types of wood for the flooring and a variety of tiles for kitchens and bathrooms. At the owner's request and by quotation, additional finishes and room designs can be provided such as saunas, jacuzzis and enclosed private garages, dependent on the stage of construction.
These are the last freehold properties permitted in Sainte Foy and offer an excellent investment opportunity.
Sainte Foy is the jewel in the crown of the Tarentaise Valley. In winter it is known as a family friendly resort with 50 kms of ski pistes and a secure and marked off piste ski area for the more adventurous. In the summer, visitors can enjoy golf, fishing, mountain biking, hiking and climbing.
Grenoble airport is 1hr 30 minutes away, Geneva is 2 hrs 15 minutes and Lyon is 2 hrs 20 minutes by car. For those travelling by train, Bourg St Maurice is 30 minutes from the resort.
The location of Sainte Foy presents the opportunity to visit several larger ski areas, should you wish to do so, and with a 6 day Sainte Foy ski pass you qualify for a preferential rate in Val d'Isere & Tignes (Espace Killy), Les Arcs and La Plagne (Paradiski), la Rosiere, La Thuile (Espace San Bernard). with combined pistes of around 1000km, all only 20 mins to 30 mins drive away.
The Local Ski Resorts distance:
Les Arcs and the Paradiski Domain (with La Plagne), via Villaroger: 7km
Tignes and the Espace Killey Domain (with Val d'Isere): 20km
La Rosiere and the Espace San Bernardo Domain (with La Thuile in Italy): 16km
Sainte Foy has quiet, well-groomed pistes as well as famous off-piste routes to the infamous 1700m vertical drop of the north face of Fogliettaz and the farming hamlet of Le Monal. Snowboarders are spoilt for choice with local and extensive off-piste areas, which lasts for ages on the north-west slopes.
A new ski piste will be ready for the 2017-18 season. The Camp Filluel run will be graded as a Red piste and leads off to the left of the Marquise lift. It starts at 2425m and over its length of 1500m drops 375 vertical metres. It terminates at 2050m in an area of good snow cover. The slope is South West facing and catches the early sun. Also known as the 'shoulder', it rejoins the Grand Solliet piste.
The new piste offers additional skiing options for using the Marquise area.
Other improvements include 10-15 new snowmakers, which will be added to the Arpettaz, Chapelle, Savonnettes and Grand Solliet pistes to improve the conditions as necessary.
Additionally, new safety equipment will be added to the Arpettaz chairlift to prevent children, in particular, from sliding under the safety bar (anti - submarining).
Sainte Foy Ski Facts
Resort Altitude: 1550
Ski Area: 30kms
Altitude: 1550m - 2620m (highest lift)
Pistes or trails: 15
Vertical drop: 1075m
Lifts: 3 draglifts and 4 chairlifts
Skiing and Boarding: Suitable for Beginners, Intermediate and Advanced skiers. Highly sought after for off-piste skiing & boarding.
By Plane - Flight time from Uk, approx 1 hr 10mins:
Lyon - 215 Kms, 2 hrs 20 mins to resort by car: A43/N90
Chambery - 115 Kms, 1 hr 15 mins to resort by car: A41/A43/N90
Grenoble - 144kms, 1 hr 30 mins to resort by car: A41/A43/N90
Geneva - 218 Kms, 2hrs 15 mins to resort by car: A40/A41/A43/N90
To Bourg St Maurice - TGV. 30 minutes to resort from station.
Purchasing Off plan sale and leaseback property, and how it works
*We work closely with several banks & brokers who will be able to guide you with financing any of our projects.
*The payment schedule can vary from project to project
The Leaseback Scheme
What is a leaseback?
The leaseback scheme was introduced by the French government in 1967 to encourage investment in tourist destinations throughout France in order to increase the supply of quality accommodation. A leaseback property transaction is the purchase of a freehold furnished property in a serviced residential building. Buyers own the freehold of the property, which is then leased back to a management company for a period of 20 years – this is usually split in to two terms and the minimum lease agreement is nine years. Buyers are entitled to a refund of the 20% VAT paid on the purchase price and owners are guaranteed a rental income and benefit from a set number of weeks of personal usage each year. Leaseback schemes are often referred to as résidences de tourisme classées, designed for those seeking a holiday home for a few weeks each year, and are located in popular areas such as ski and coastal resorts, where self-catering accommodation is in particularly high demand.
How does the leaseback scheme work?
Leaseback properties should not be confused with timeshare. The buyer owns the freehold of the property and the full price is shown in the title deed. The purchaser of a leaseback investment will be required to sign a commercial lease agreement with a management company at the time of the signature of the deed of purchase (acte de vente). A commercial lease is a contract giving a property owner the right to rent the property out through a management company over a minimum period of nine years. The management company has the right to renew the lease unless the owner informs the company at least six months before the term ends via recorded post or bailiff. The management company is entitled to compensation if the owner refuses to renew.
The owner is entitled to occupy the property for a set period each year. This is usually between two and six weeks, spread over high, medium and low seasons and should be clearly stipulated in the contract. Often you can negotiate the number of weeks of personal use you have but this will usually reduce the rental income you will receive.
The property will be furnished and these need to be included in the property description or contract. If any furniture needs to be replaced at the end of the lease this will be at the owner’s cost. The maintenance costs of the property can be specified in the contract but usually the management company is responsible for the maintenance costs and running charges, although sometimes owners have to pay a contribution. Major repairs remain the responsibility of the owner.
You can sell your leaseback property and, providing the new owner takes on the commercial contract and continues to use it as a leaseback you don’t have to pay any VAT. If they don’t continue the lease, then you will be liable for 1/20th of the VAT (claimed at purchase) due for every year still left on the contract.
What are the advantages of leaseback?
Buyers of leaseback are entitled to a refund on the 20% VAT due on a property purchase in France. However, all property owners in France are required to pay taxe foncière so this is still payable by the buyer.
The owner gets a rental income from their property, this is usually 2-5% of the property’s value, adjusted annually for inflation according to rental indexes published by INSEE (National Institute of Statistics).
The property is managed by a management company which takes care of the rental and general maintenance of the property, so the owner doesn’t need to worry about it.
What are the disadvantages of leaseback?
The main drawback of a leaseback is that the owner only has restricted access to their property. The contract with the management company will stipulate how much use the owner gets but it is usually 2-6 weeks which are split over high, medium and low season. They have to be arranged in advance so, most of the time, you can’t just suddenly decide to stay in your property for the weekend. In some cases there is the option to negotiate the number of weeks of personal use you get but this will decrease your rental income.
The property must remain a leaseback for at least 20 years otherwise it is no longer exempt from VAT and the owner will have to pay the government 1/20th of the VAT that was due at the time of purchase for every year still left of the 20. So if you decide to sell your property you must make sure the new owners are buying it as a leaseback otherwise you will be liable for the VAT rebate.
Often the property is sold furnished and the decoration and furniture is usually the same as the other properties in the residence.
We specialise in arranging bespoke inspection trips to all our properties, tailor-made to suit your specific travel requirements. Contact us to speak to a dedicated travel manager.
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