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New ‘residence de tourisme’ Swiss development launched
Country: Switzerland
23 February 2009
Erna Low Property has announced the release of the brand new five-star development 'Les Mayens d’Heremence’ located in the alpine village of Les Masses, linked to Verbier to form part of the 4 Valleys ski area of 410km of slopes.
Due to canton restrictions, it had previously been difficult for foreigners to buy property in Switzerland. However, the country has now eased its strict property buying regulations, and opened its doors to ‘residence de tourisme’ style investments. The aim is to replicate the ever-popular ‘leaseback’ formula in France, in an attempt to encourage greater foreign property investment in the Swiss Alpine region.
The freehold purchase of an apartment at Les Mayens d’ Hérémence comes attached with a 15-year management lease to provide the buyer with a guaranteed index linked rental return of 3.5% for the duration of the agreement.
“Les Mayens d’Hérémence offers a rare chance to own in the 4 Valleys, where planning and development are not often granted’, says Joanna Yellowlees-Bound, CEO of Erna Low Property. “Verbier currently offers very limited opportunities to purchase due to heavy construction regulations but incredible demand to own in this fantastic ski area has been met by the release of these apartments offering an alternative to owning in sought after Verbier itself.”
Les Mayens d’Hérémence will feature 64 high-end furnished apartments spread over three buildings all offering complete ski-in ski-out access and all finished to exemplary standard with large south east facing windows looking over the Matterhorn. Five-star facilities include spa, (indoor pool, steam rooms sauna and spa treatment rooms), bar and restaurant as well as the residences’ own ski hire shop and lift pass office. Complete underground parking ensures the development stays car free.
Completion is expected in winter 2010 and the properties range from two-bedroom apartments up to four-bedroom duplexes with prices starting from CHF 748 000 (£440,000).
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