Planning permission to build around the exclusive, environmentally protected Lake Annecy in France is hard to come by. So much so, that the recent approval for MGM French Properties to build 37 new homes in the area has been hailed as a landmark achievement.
Their success can be put down to a sensitive approach and “an enviable reputation as a leading developer of residential schemes throughout the French Alps,” says Richard Deans, head of MGM’s London based UK sales office.
Over the past 16 years, local authorities have applied strict restrictions and requirements to planning applications in order to maintain high levels of quality, style and architecture in the area. MGM’s French holiday homes are part of a low density project and combine traditional style with contemporary designs. “These are small schemes of a type which I believe will have a special appeal for British buyers, particularly those who enjoy sailing and skiing, both of which are on the doorstep,” explains Richard.
The new holiday homes will sit in the town of Annecy and in two villages on the shores of the lake:
La Villa Méïa – 4 apartments within Annecy’s Golden Triangle, just a few minutes’ walk from the lakeside. These exclusive apartments are set within the quiet, pedestrianized heart of Annecy with its cobbled streets and quaint canal network.
Villa Lisa – 18 apartments set within an established residential area. Located very close to the town centre, they will be a 10 minutes’ walk from the lakeside promenade and parks.
Villa Opale, Sevrier village – 7 apartments with their own garaged parking spaces and bike lock-ups. The development is a 10 minute drive from Annecy and is also linked to the town by water taxis, a local bus service and a lakeside cycle path. The development features a waterfront sun bathing lawn and boat moorings.
Villa Emeraude, St Jorioz village – 8 apartments located peacefully within the village, 10 kilometres from Annecy. St Jorioz is particularly popular with families because of its great swimming opportunities.
Richard added: “Largely due to its exclusivity, the area of Annecy has held its own during the recession, with properties near the lakeside having doubled in the past 15 years and risen by 8 per cent last year alone. Investors not only benefit from a well-established tourist and property market, they can expect strong rental yields which have seen annual increases of 1.8 per cent since 2007. For investors, there is good scope for long term or short term lets and holiday rentals, as well as capital growth.”
With off-plan prices for MGM’s new Annecy apartments ranging from €165,000 for a studio apartment to €760,000 for a three bedroom property, investment potential is particularly strong for those who buy early.
Consider budgeting for holiday home insurance. Call our specialists on 0333 014 4514 today.