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French property could go Olympic - 19 March 2009

As London will be finding out in 2012, hosting the Olympic Games comes as a huge honour to any city that is chosen – and soon buyers of property in the French Alps could benefit from a new injection of investment, infrastructure and, ultimately, visitors associated with the Olympic movement.

The Alpine town has been shortlisted to compete to be the host of the 2018 Winter Olympics. The town will go up against Munich in Germany and Pyeongchang in South Korea to host the games. Should Annecy’s bid be successful, it will boost property prices as well as make sure the rental of all accommodation in the town will be block-booked for the duration of the Games.

The winner will be announced in July 2011, but is Annecy is chosen interest in the town will pick up dramatically, according to Nathalie Turchet, UK sales manager of the MGM Group “Although still relatively unknown to Britons, the picturesque ‘olde worlde’ town in the foothills of the French Alps, with its ‘Little Venice’ canal network, restaurants, cafes and weekly markets, increasingly will be the subject of countless conversations and media reports as the competition hots up.”

Demand for property in the town will soar – an effect which could stretch for many years before and after the Games themselves – while rental returns should rocket. Not that there isn’t already a good demand for rented property in the area, with many international conferences and events being staged there.

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