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Overseas Property News
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Success of one French property scheme prompts another
Country: France
9 July 2009 Developer MGM has announced its intension to construct a new French property scheme in the Haute-Savoie region of France on the back of the successful completion of a similar development located nearby. The new development, La Villa d’Artagnan, is situated in Rue André Theuriet, just off the fashionable Avenue d’Albigny which has been dubbed ‘the Champs Élysées of Annecy.’ The architecturally striking La Villa d’Artagnan set in the Parmelan area of the town will be less than one minute’s walk from the lake and just over five minutes from the town centre. La Villa d’Artagnan comprises 18 homes ranging from one-bedroom apartments to a four-bedroom duplex with off-plan prices starting at £292,000. The apartments have under-floor heating and each comes with an underground garage and cellar storage space. “The properties are expected to appeal to UK buyers seeking second homes as well as investments,” says Richard Deans, sales consultant in MGM’s London-based UK sales office. He predicts that, for investors, monthly rental income from a two-bedroom apartment will be in the region of £1,200 to €1,300 during both the ski season and summer months. MGM decided to bring forward the start of construction work at La Villa d’Artagnan following the success of its earlier scheme nearby, Villa Marine. All but three of the 24 contemporary-style apartments in the three buildings which comprise this development were sold off-plan. The prices of the remaining apartments start at £336,000 for a two-bedroom property. Annecy is just 30 minutes from Geneva Airport following the opening of a new motorway link. Chambery Airport is 35 minutes away by road. By rail, Annecy is around three hours by TGV from Paris and its Eurostar rail link with London St Pancras.
See Also: France, Marc Da-Silva, Off-plan, Overseas property Investment news, Ski
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