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Investors 'buying near French Alps'

Article Date : Tuesday, September 11, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

The French Alps are becoming an increasingly popular investment option among overseas buyers, experts have stated.

Investors in Property said that outlying places such as Grenoble were becoming highly sought-after by foreign homeowners.

Much of the interest was put down to the growing tourist trade in the region, although rising property values were said to be encouraging people to buy away from traditional areas.

The firm stated that since areas such as Geneva and Chamonix had become too expensive for some buyers, these people were investing in outlying areas instead.

Simon Malster, managing director of Investors In Property, commented: "They've become so expensive now – places like Chamonix – that people now are looking at other entries."

He added that many investors in the region were buying properties to let out to other people, mainly because new constructions often had a special planning condition that it should be made available for rental.

According to figures from Assetz International, demand for property in France increased by 78 per cent in 2005.
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