An object lesson in respect for local tradition by constructor Grosset-Janin.

In an uncertain world one thing which is clear is the fact that the desire to own a ski property not only remains as strong as ever, but growing steadily. Demand for high quality new properties in Europe and North America currently outstrips supply, as new buyers rush to join (and fuel) a rising market.

Just four years ago, when Savoyard developer MGM released new chalets in the small resort of Sainte Foy Tarentaise, near Val d’Isere, its four-bed designs were priced at £250,000 and six beds at £400,000. The same properties are now changing hands for £400,000 and £800,000. Budget flights into key destinations have brought skiing within easy reach of almost everyone, along with the dream of owning a mountain property. Then there’s the reassurance that comfortable, well-located and effectively-marketed apartments can produce sufficient revenue from letting to offset or even cover the ownership costs. For this we can thank the French Government’s Résidences de Tourisme purchase scheme (commonly referred to as ‘leaseback’), plus various management packages.

L-R: Flaine’s controversial Marcel Breuer-designed concrete façades are now listed as Historic Monuments; Arc 1950 Le Village wears rather different clothing.

So, how do you identify a potential high-performer? The first requirement is good snow, and while altitude is far from being the whole story, it’s a good starting point. Higher means colder, attracting more and better quality snow. It also helps it stay put longer (important, since artificial snow canon are only usable in sub-zero temperatures). So higher altitudes are generally more attractive to skiers but you’ll have to be selective. In France the high altitude purpose-built ski resort concept dates from the days when poured concrete became the construction material of choice and some now look distinctly outmoded. Disguising, where possible, with timber cladding – ‘re-looking’ – can be a costly exercise. Fortunately most areas have tightened controls and new construction must reflect local architectural traditions. The results are particularly striking in the French Alps, where quality-committed developers are now supplying exactly what the market wants, and not only for new-build. Properties by constructors like Grosset-Janin and MGM maintain their initial purchase premium when they eventually re-enter the marketplace.

Les Aiguilles Rouges, Vallorcine,

Then came the arrival into the European market of Canadian developer the Intrawest Corporation, whose Arc1950 Le Village brought benchmark standards of Whistler, Tremblant, etc., to a new site in the popular family resort of Les Arcs, in the vast Paradiski area. Successive releases sold so rapidly that the development was completed two years ahead of schedule. Encouraged, the company is constructing Edenarc 1800, a 4-star development nearby with 330 units served by a new cabriolet lift from Arc 1800. It won’t stop there. In the Grand Massif ski area just 45min south of Geneva 500 apartments with jacuzzi, outdoor pools, wellness areas, commercial outlets, aqua leisure centre, etc., are currently taking shape at Flaine Montsoleil. Meanwhile, MGM is constructing Les Ecrins Etoiles, 35 apartments in the heart of nearby Samoëns, France’s oldest ski village (linked direct to the skiing action by high-speed gondola lift). Such sought-after locations provide rare opportunities for those who prize a traditional setting.

By now you’ll no doubt be wondering about the possible implications of one important factor which we haven’t mentioned. Projecting climate change remains an imprecise science, and in any case there have always been wide seasonal variations in snowfalls. But there’s no denying the fact that summers are already hotter and encouraging more people to spend their holidays at higher altitudes. Mountains are not only dazzlingly beautiful; their cool overnight temperatures help you sleep peacefully even without air conditioning. So, mountain areas could finally be about to come of age as four-season tourism destinations, with obvious rewards for those who offer visitor accommodation. So it looks like ‘heads you win, tails you still win...’. Differently, perhaps, but winning is winning.