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On the slippery slope - 26 December 2006

It looks as though most bookmakers had a happy Christmas Day, with mild temperatures and grey skies ensuring they didn't have to pay the traditional punters wishing for a white Christmas. Next year, you could guarantee that you and your family will wake up on Christmas morning to snow-capped peaks and enjoy a festive season on the piste.

So far this winter the snow story has been the lack of it in the Alps for people to ski on, but with the first smattering of snow on the mountains allowing some intrepid souls out onto the upper Alpine slopes, things are sure to improve.

The situation in the US, however, is much better. Fabulous snowfall in the west of the country has made the opening of the season one of the best in recent memory, and no doubt has cheered the ranks of property owners who are letting their chalets and apartments out to the flocking skiers.

The advantages of owning property in ski resorts are the fact that there is generally very little off-season in terms of rentals. Given the emergence of summer mountain sports to fill in the gaps in the rental calendar, even organised tour operators are taking advantage of this growing market for outdoor-based holidays.

On top of this is the fact that the propensity for a large proportion of ski tourists is to rent a chalet or apartment for the family, rather than stay in hotels. The opportunities to use your property, especially if it comes with a cook/chalet maid, to supplement your income are significant.

France is an example of how organised the use of mountain property can be, with their unique government-backed leaseback scheme. This gives buyers of specific property (often in mountain areas) the security of guaranteed rental returns and waives the VAT on buying a new property in return for keeping your property in the scheme for a fixed period, usually nine years.

France isn’t the only place where guaranteed rental helps to encourage the stream of new buyers. In Bulgaria’s Bansko and Pamporovo resorts are fully open with good snow conditions – and developers offer buyers guaranteed rentals throughout the year to offer as short lets for the incoming tourists.

And then there are the properties in the US and Canada, which tend to come at the opposite end of the price spectrum to those in Bulgaria, but where the developers are also offering guaranteed rental schemes.

Property in ski areas can ensure you can treat your family to a real snowball fight on Christmas Day, but can also prove to be a sound investment through the rest of the year.

 

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