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Hot tips for overseas property in ski resorts

Tuesday, 6 February 2007 12:00 AM

Buyers looking to invest in overseas property in ski resort areas should start considering the impact of the 2014 Winter Olympics now, property experts at RightmoveOverseas advise.

Speculation on the location of the host city is currently going strong, with the winner to be announced on July 4th 2007 during the International Olympic Committee session in Guatemala.

Additionally, RightmoveOverseas reports ski holidays and winter breaks that include snow sports are on the rise with groups, couples and families.

So what are the factors overseas property investors should consider when buying homes in ski resort areas?

"When it comes to choosing the perfect ski property to invest in, there are a lot of things to consider and location is the most crucial factor," RightmoveOverseas recommended.

"Good transfer facilities and train links are a must together with a sound snow record. A good ski property has year round rental potential, where additional activities are available during the summer such as golf, paragliding and hiking."

Additionally, local amenities should be no longer than 15 to 20 kilometres away.

RightmoveOverseas also suggests putting an emphasis on thinking ahead about how the property will be used in future as this will increase revenue.

"Kitchens are notorious for becoming the social hub of a household and you will need to make sure that there is plenty of space to allow for this. Breakfast bars and plenty of worktop space will be a point of sale for larger groups," explained Justin Figgins, head of RightmoveOverseas.

He added: "To make sure your ski property stands out, consider the features it has to offer. A prominent fireplace and great views are things that will make your property memorable."

The website also recommends considering ski spots in Bulgaria and Croatia with EU membership predicted to boost prices and entry level property prices up from £15,000 to £17,800 over the last year.

"Both destinations are steadily growing more popular with tourists and investors' alike and potential future growth is huge, with Bulgaria hoping to host the 2014 Winter Olympics," commented Rightmove Overseas.

"For buyers, not quite ready to embark on journeys to Eastern Europe, ski favourites France, Italy and Austria remain popular destinations to buy ski properties.

"Although a little more expensive than their eastern counterparts, bargains can still be found.

"A good ski property in the French Alps can be found for around £70,000 while properties in popular resorts in Austria and Italy are around £150,000 and £120,000 respectively.

"When buying a transatlantic ski property, while you can get more for your money; a two bedroom house in British Columbia, just 30 minutes from popular ski resort Whistler in Canada, can be found for under £130,000; you must also factor in flight prices and availability, as well as how often you will be able to holiday there.

"Ski resorts will always be a good investment, as ski holidays continue to grow in popularity with holiday makers. Due to the specialised nature of the industry, you can demand higher rental prices for your ski property and should be rewarded with early and substantial returns," concluded Mr Figgins.

However, the website also reminds investors the key elements of buying overseas property should not be forgotten when considering a ski resort property, including having the right agent, solicitor and accountant as well as carrying out thorough research.

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