FRENCH developer MGM has started building work on some new homes in the heart of Chamonix, a historic old French town which is only an hour from Geneva airport making it an attractive proposition for rental potential.

Designed in the classical Belle Époque style, the five-storey building – Les Jardins d’Astoria – will occupy the site of a disused garden, in Place Balmat in the centre of the town.

There are10 two- and three-bedroom, two-bathroom apartments and many of them have views in three directions from up to four balconies.

Chamonix, long-established as a tourist town with beautiful old buildings lining cobbled streets and squares, has a reputation as the home of mountain sports including skiing, paragliding, climbing, mountain biking and rafting. There is also an 18-hole golf course at nearby Le Praz.

The apartments at Les Jardins d’Astoria come with fully-fitted kitchens and bathrooms, fitted wardrobes in bedrooms, and pine finishes with tiled and parquet floors.

Prices of the properties available for outright purchase start at €556,000 for a two-bedroom apartment.

“This is a very rare opportunity to buy a new home in Chamonix, a popular centre for holidays all year round, so the level of interest from both British and French buyers has been considerable,” reports Richard Deans, one of the MGM’s London-based UK sales consultants.

“Easy access, with Geneva Airport only an hour away from Chamonix, means good letting potential and that is an important consideration for investors.”

Richard predicts that the apartments could command a peak week rental income of around €2,500 at the height of the ski season.

Secure basement storage space is available with each apartment and car parking is available at MGM’s nearby development Le Hameau de la Blaitiere, a five-minute walk away.

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