HiFX says snowy peaks are top foreign investment destinations

HiFX says Alpine properties are the new top pick for foreign home investment by Britons.

The firm’s latest Monthly global property hotspots report reveals Q1 is the busiest time for the ski chalet market with more buyers looking towards snow capped peaks in France, Austria, Canada and Italy.

At the same time, interest in summer destinations such as Spain and Cyprus is waning.

However HiFX is warning savvy buyers to wait until the summer when prices drop and there is a far greater choice of properties to choose from.

Based on HiFX enquires France has surpassed Spain this month as the most popular destination to buy abroad.

Interest in snowy Austria has also increased by almost 30%. Brits are also flocking to Canada’s year round mountain resorts with 6% of buyers looking to buy in the Rockies.

Mark Bodega, director of HiFX, says: “The French Alps are still top for Brits seeking a place in the snow with France accounting for 26% of all enquiries due to its close proximity and cheap airlines.

“Prices are higher in well established resorts such as Meribel, Courchevel and Chamonix but the rental yields also remain consistently high.

“It is important for buyers to check out homes in the summer months too and see what was covered up by the snow. Prices are also on average 5%-10% cheaper in the summer compared to January to March”.

Frederic Chamouret, senior advisor at VEF, adds: “Property prices in the alps have increased by 90% over the last four years as the whole area is a preserved natural park subject to strict French that limit the number of new constructions despite consistently growing demands.”