inTERnaTiOnal
Go east perhaps? 100,000 – though it does need some
The newer ski markets of Eastern Europe refurbishment. While Slovenia isn’t
have been a mixed bag over the past few outrageously cheap, Sargent says the cost
years. Bulgaria has crashed and burned, of living reflects “normal” euro prices
Slovakia continues to offer cheap property
FRANCE €1,049,000 - €1,459,000
rather than the sort of prices you might
but perhaps slightly less interesting ski lES cHAlETS dE lA TANNERIE, pay in Chamonix or Megeve, and the
resorts, while Slovenia is recovering after cHAMONIx. Three new apartments at the skiing facilities are world class.
seeing prices drop over the last two years. heart of the French Alps; excellent skiing, In Bulgaria, prices in the main resort of
Frances Sargent of Slovenian Properties walking, cycling and apres-ski. Through Bansko have fallen by as much as 50 per
(www.slovenianproperties.com) www.chestertonhumberts.com. cent, according to the Bulgarian National
recommends Slovenia to families. She says Real Estate Association. There is now less
“It’s great for family skiing. There are loads property coming on to the market, as
of little ski schools – they’re absolutely developers have cut back their building
priceless, and all the children here learn programmes, and construction companies
to ski at school.” With year-round facilities, are now looking for more realistic prices
mountain climbing and lake based from buyers. This makes Bulgaria look
watersports in summer, and spas close extremely cheap – yet interest in the
to some of the resort, it’s also a market destination has continued to fall this year,
with good potential for summer lettings. partly as a result of the well publicised
Sargent says Slovene buyers have problems with over-development and
supported the bottom end of the market, aggressive sales techniques in 2007 and
freeing up chains. She says it’s difficult
USA US$375,000
2008, according to Michael Axelrod at
to assess the true level of prices; many RANgElEy lAkES lOdgES, MAINE, USA mortgage specialist Conti. He also warns
developers have kept their old, higher Three and four-bedroom duplex lodges it’s difficult to get financing for Bulgarian
prices on their websites though they are in Maine’s unspoilt Rangeley lakes region. purchases, so this looks like a cash buyer’s
willing to do deals. “Some properties are Skiing five minutes drive away. market at the moment.
sold at a considerably lower price without www.chestertonhumberts.com
the new price ever being listed on the or Go west?
website. This is where a good agent can Long haul ski destinations in Canada and
play an extremely important part,” she says. the US have long attracted a certain
The market has definitely polarised, she amount of British interest. Certainly if
says. “People are looking either at the low you believe the global warming pessimists,
end, under EUR 130,000, or the real luxury ski resorts under 1,200 metres – and that
end of the market.” Italians are buying – includes many of the key European
Slovenia is a good weekend destination destinations – could have their days
they can drive to – as are Belgians and numbered. That’s certainly not a problem
Dutch, in addition to Brits. There is still in the Rockies, home to the USA’s best
a healthy number of investment buyers, known – and most expensive – ski resorts.
too, mainly out looking for bargains where
USA US$975,000
Even in Colorado, though, prices have
over-building in some of the resorts has led WATER HOUSE ON MAIN STREET, come down. Colorado skier numbers were
to an overhang of property and the chance BREckENRIdgE, cOlORAdO down 5.5 per cent last year, according to
to get a bargain. There are some interesting 55 homes with large private deck areas. trade group Colorado Ski Country USA.
traditional properties available, too, such 1, 2 and 3 bedroom apartments. This year, with many resorts increasing
as a four bedroom farmhouse for EUR www.chestertonhumberts.com what’s offered in their ski passes, or
reducing the price of passes, early sales
appear to be up, but that hasn’t made much
impression on the property market.
According to Karren Barrocas of Colorado
Ski Real Estate, it’s a buyer’s market, “and
the supply is much larger than the demand,
with a much larger inventory than we have
seen for many years.”
Prices remain high; for instance East
West Partners is currently selling the Water
House on Main Street in Breckenridge,
with one remaining one bed apartment at
USD 975,000, and three-bed apartments
starting at USD 1.45m.
A lower priced and slightly less
spectacular skiing experience is offered
by New England, where New England
00 FEBRUARY 2010 PROPERTYdrum
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