Holiday Homes: Finding a property investment at Courchevel 1850 on the slopes in the Rhone-Alpes that will pay off
In the rarefied air of Courchevel 1850, known as France’s ski playground for the wealthy, the word “only” quickly takes on a new meaning. A burger, for example, is “only” €30 on the slopes, and a duplex apartment is “only” €9.65m.
But in the Rhone-Alpes prime real estate hotspot, where high-end chalets up to 3000sqm have been sold, Savills property agent Jerome Lagoutte is keen to point out why the top-of-the range duplex at the new Six Senses Residences is actually a good deal.
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“The apartments are a rarity in that you can no longer get local authority planning permission for developments like this and there are no other serviced apartments like this in Courchevel 1850. They are a long-term investment and prices have only been going up.”
Now nearly complete, the residence includes 53 apartments ranging from 70 to 260sqm, with prices from €1.5m. Prices rise to €9.65m, which will get you a five-bedroom duplex with wine cellar, mountain views and private balconies.
Inside a Six Senses Residence living room
Backed by investment houses Cain Hoy and Promocour 1850, the development was designed by French architect Allan Foeillet and adheres to the eco-friendly principles of Six Senses, a brand better known for its hotel and resort spas in exotic locations such as the Maldives. Located in the heart of Courchevel, the apartments are just a short distance – even shorter with a lift in the minibus from the concierge – to the ski lifts and 658km of pistes.
An airport next to the slopes means Courchevel can be reached by private jet from London in just two hours, perfect for wealthy but time-poor owners.
More than half of the apartments have now sold, with English buyers (65 per cent) leading the march, joined by a United Nations of Russian, Swedish and Lebanese buyers.
A view over the mountains from a Six Senses balcony
No one, so far, lives full-time at the apartments and their occupation rate varies. While some owners rent the apartments out, there is no guaranteed rate of rental return or yield but the potential income covers all costs of the property and buyers can reclaim the 20 per cent VAT that is within the gross sales price if they rent it out.
“The Six Senses Residences offers turnkey, serviced apartments. You can buy one, fully furnished, and the concierge service takes care of everything you need. Clients just come and enjoy themselves – then they can just lock up and go,” says Lagoutte.
High-end interior design firm Morpheus London was chosen to design bespoke furniture, lighting and artwork.
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Residents have access to a round-the-clock concierge team, a residents’ club lounge, private catering, a ski locker right under the main chair lift at Courchevel 1850 and the new spa, pool and gym, which has just opened. With a growing number of non-skiers visiting the resort, the need for more facilities is a growing demand. The on-site spa – which has a juice bar, outdoor hot tub and team of masseurs, is an in-demand alternative to a day up the mountain.
“Modern living is what our clients are seeking,” says Lagoutte, “while having the feel and experience of being in the mountain.”
Six Senses Residences, Courchevel, France, from €1.5m
Visit one-courchevel.com
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