View more on these topics

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.”


Paragon to make 93 redundant

The Paragon Group is set to make 93 members of staff redundant as it looks to streamline its mortgage business.Paragon Mortgages and Mortgage Trust will be merged into a multi-national multi-brand company with a single sales team headed by Andrew Lees.Mortgage Trust’s head of sales Austin Jelfs will be leaving to pursue other interests. Paragon, […]

AMI to clarify client responsibilities

The Association of Mortgage Intermediaries is in the process of launching a paper to help clarify consumers’ responsibility for their finances.Speaking at Network Data’s ann-ual conference, Richard Farr, director of AMI, warned that brokers will have to initiate more robust conversations with clients regarding their financial situations in a bid to en-courage them to live […]

Savills unveils strong 2007 results

Savills Private Finance has revealed a 16% increase in pre-tax profit in 2007. The brokerage also announced its revenue increased by 11% to £29.8m last year despite the market downturn. Mark Harris, managing director of SPF, says: “We continue to expand our business and now operate from 25 locations, including offices in Cardiff and Windsor.”

Three catalysts for European equities

By Rob Burnett, Manager of the Neptune European Opportunities Fund In recent weeks, the bear case for European equities has become more pronounced on the back of weaker-than-expected GDP data and deflation concerns. This softening in economic momentum has led some investors to question whether the ECB is behind the curve and indeed whether it […]


News and expert analysis straight to your inbox

Sign up