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Lifestyle: Ski
Investment type: Guaranteed Rental, Leaseback
Size: 23m² ; 248ft²
Price: £2224.0/m² ; £207/ft²
Facilities: Heated Pool
£51,172
( €61,034 / $77,110)
REF: CLV004
La Bérangère
Chamrousse
There are 50 properties of this type
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- Returns are 4.8% and prices are extremely affordable
- 100% mortgages available, subject to application
- 3*** development including an indoor heated pool
- Exceptional location on ski slopes
- Reliable management company (subsidiary of EDF)
Estimated mortgage repayment:
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The building of 66 apartments is set on at 500 meters from the shops and immediately on the ski slopes. It is a 3*** development including an indoor heated pool. It enjoys from fantastic views on the mountains for the south and west facing apartments and a nice view on the ski slopes for east facing apartments.
The duration of the lease is 13 years. The lease is indexed on Insee index with a maximum of 1.5% per year. The deeds will be signed for end 2006/early 2007 and the first rents will start from April 2007 so first payments in early July 2007.
The expenses due by the owners are: an accountant (270 € per year), council tax approx 300€ per year, big repairs (art 606 CC) such as roof, walls, heating system, maintenance of façades, stairs. Insurance is signed by management company but paid by owners.
The management company pays all running expenses and maintenance costs, including maintenance of the furniture.
The rent is paid on a quarterly basis and is indexed on 66% of the variation of the Insee index with a maximum of 1.5% per year. The rent is reviewed every 3 years.
Returns are 4.8% and prices are extremely affordable from 56.000 euros for a studio, which is only 2.700€ per square meter.
This resort will allow the owners to be refunded from the full amount of vat and tax break (the income to be declared to tax authorities in France is calculated as follows: income less the costs paid, depreciation of the property calculated on 20 years, financial interest of the French mortgage).
The tax loss is forwarded on the 5 following years. The result is declared in UK/Ireland then. (of course as the 10 first years are negative nothing is declared in home country).
Unique investment opportunity on the ski slopes in a sought after ski resort at 1700 M, studio and 1 bed apartments with exceptional mountain views, from only 56.000 euros so only 2.700 euros per square meter, which is unique on a ski resort in French Alps, offering a 4.8% return.
- Unbeatable price
- Good return
- The most reliable management company (subsidiary of EDF)
- Exceptional location on ski slopes
With an 80% mortgage it is a unique opportunity to get an apartment on ski slopes in Chamrousse. During the first 13 years term of the lease, no personal usage is possible as EDF rents the apartments for its employees.
Prices Range From €61,034 - €130,109
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Mortgage Calculator
To calculate the monthly mortgage repayment, assumptions have been made for the values of the deposit (20%), APR (4.85%) and mortgage term (20 years). These values are the average ones for France.
However, if you would like to change these assumptions and recalculate the monthly mortgage replayment, then please change the fields below and press calculate.
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In this instance the developer does not offer a subsidised viewing trip, however we can help you organise your flights and a suitable hotel to stay in whilst viewing the property.
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