Apartment for Sale in Les Contamines-Montjoie

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€164,495 EUR

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Ref 1934801 | Les Contamines-montjoie, Rhone-alpes | Apartment

Currency services provided by PureFX 164,495 EUR  |  Approx.£141,647 GBP  |  Approx. US$176,043 USD

A lovely triplex apartment to renovate to your exact tastes in a building which will be completely updated. The Olympiades development is a unique opportunity for buyers who wish to create their own space and benefit from adding value to an acquisition.

Les Olympiades are located a walk away from the centre of Les Contamines village, and are set back from the main road and any traffic noise. They have lovely views towards the surrounding mountains and the ski bus stops at the end of the road to take you to the lift station a few minutes away.

Plans shown here are suggested layouts only. The apartments will be delivered as a blank shells with no internal walls so buyers are free to imagine their own layout. (Subject to technical constraints such as how the water pipes run in the building). Apartment 6 is over 3 levels and has both a garden at the front, and a sunny south east facing back garden. Each apartment will come with a ski locker.

Buying a property off plan allows for numerous benefits. Notaire fees are based on a lower purchase price compared to buying such an apartment in a finished state. Not only this, but VAT is not included on the sale in this instance, which immediately saves 20%. And finally, the works will benefit from a reduced VAT rate of 10%, rather than the usual 20% (if using local artisans).

The entire building Co-property will benefit from new facades, new doors and windows, guttering and external woodwork. A contribution, proportional to the apartment size will be required and a condition of sale. The estimate timings will be for completion of the exterior and communal areas will be beginning of 2016.

The cost of finishing the apartments is likely to be in the region of 800 €/m2, and would be about half this amount if the work is undertaken by the owner and only materials are sourced.

So in total, an estimation of the investment required will be:

The apartment cost + contribution to building renovation + personal renovation costs = TOTAL
164 495€ + 39,000€ + (800 x 78m2= 62 400€) = TOTAL COST of around 265K€ for a 78m2 apartment, normally retailing around 300K€ plus mark.

Ordinarily a 78m2+25m2 apartment with garden would retail around 350€ and incur 7.5% notaire fees on top of this price. The notaire fees on this acquisition are based on the price of the shell. Clearly there is a significant saving to be made on this project against buying a ready made apartment of the same size.

In addition, there is the possibility to buy a closed garage on site for 18,000 Euros TTC.

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