A typical monthly rental income for Fly to Let investors from a two-bedroom apartment in a new development in the French town of Annecy is projected to be in the region of €1,100.

Off-plan prices for outright purchase at Annecy-le-Vieux in the Haute Savoie start at €287,000 for a one-bedroom home with a floor area of 54 sq m rising to €762,000 for a three-bedroom, two-bathroom duplex of 131 sq m.

Located 500 metres (a third of a mile) from the shore of Lake Annecy, Le Jardin des Poetes will comprise 21 one- to three-bedroom apartments designed and built by the Annecy-based developer MGM. The six-storey building will be set in a landscaped garden in an established residential area.

“This will be a state-of-the-art development in terms of sustainability and fuel economy,” said Nathalie Turchet, MGM’s London-based UK sales manager.

Le Jardin des Poetes has been planned as an L-shaped building positioned to maximise the use of natural light through glass-fronted balconies and big double-glazed windows. Among other energy saving features are:

1. lighting activated by movement detectors, switching off automatically when no-one is around;
2. low-energy light bulbs in communal areas;
3. geothermal heat pumps to extract and use energy which occurs naturally underground;
4. low-cost under-floor heating;
5. flow regulators on all taps.

Turchet added: “We will use an eco-friendly paint on the external walls and we have opted for timber window frames. This is because, while we recognise that aluminium ones can be recycled in the longer term, the manufacturing process uses up to 1,000 times more energy than that for timber frames.”

This MGM development has been tipped to become a showcase of eco-friendly development at the centre of a modernisation scheme being undertaken by the local authority in Annecy-le-Vieux.

Construction work on Le Jardin des Poetes is due to start in the autumn next year with completion of the development planned for December, 2010.

Le Jardin des Poetes also has all year round rental potential. In the winter the ski slopes of La Clusaz and Le Grand Bornand are 30 minutes away by road, and in summer Lake Annecy is a popular centre for sailing, watersports and fishing.

When work on a new motorway link between Annecy and Geneva is completed next in December, Geneva Airport will be a 20 minute drive from the town.

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