The completion of a new development of contemporary apartments in the historic and picturesque lakeside town of Annecy in the Haute-Savoie region of France has prompted developer MGM to start work on a similar scheme nearby.

The new development, La Villa d’Artagnan, is located in Rue André Theuriet, just off the fashionable Avenue d’Albigny which has been dubbed ‘the Champs Élysées of Annecy.’

It has been tipped to become an architectural landmark in the Parmelan area of the town, and will be less than one minute’s walk from the lake and just over five minutes from the town centre.

La Villa d’Artagnan comprises 18 homes ranging from one-bedroom apartments to a four-bedroom duplex available for outright purchase at off-plan prices starting at €338,000.

“The properties are expected to appeal to UK buyers seeking investments,” said Richard Deans, sales consultant in MGM’s London-based UK sales office.

He predicts that, for investors, monthly rental income from a two-bedroom apartment will be in the region of €1,400 to €1,500 during both the ski season and summer months.

MGM decided to bring forward the start of construction work at La Villa d’Artagnan following the success of its earlier scheme nearby, Villa Marine. All but three of the 24 contemporary-style apartments in the three buildings which make up the development were sold off-plan. The prices of the remaining apartments start at €389,000 for a two-bedroom property.

Annecy is just 30 minutes from Geneva Airport following the opening of a new motorway link. Chambery Airport is 35 minutes away by road. By rail, Annecy is around three hours by TGV from Paris and its Eurostar rail link with London St Pancras.

French people widely regard Annecy as ‘the perfect place to live’ all year round. The town is a centre for sailing and watersports in summer, and half an hour by road from top ski resorts like Le Grand Bornand and La Clusaz.

Annecy is twinned with the Cotswold spa town of Cheltenham. The lake in the French town is popular for windsurfing, wakeboarding, swimming, scuba-diving and fishing. Nearby are facilities for paragliding, mountain biking and hiking as well as rock climbing and canyoning.

Recently Annecy was selected to compete with Munich in Germany and Pyeongchang in South Korea to host the Winter Olympics in 2018 – which means that British investors could soon be ‘going for gold’ in the race to secure properties tipped to soar in value in the run-up to the event.

If Annecy hosts the Winter Olympics it is expected the demand for property will rise as planning for the event gets underway, so capital growth and rental incomes can be expected to rocket, says MGM.

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