Alpine resort gets revamp

Buying a new ski-in ski-out home in one of the first ski resorts in the French Alps, Montgenevre, could be a sound investment. * Search for prime property for sale in France More than 50 luxury homes are being designed and built by MGM at century-old Montgenevre (www.mgm-constructeur.com ), where the local authority has already spent £40 million on projects including a 0.35 kilometre road tunnel running through the village. A further £10 million has improved the front de neige - the area where the ski lifts start and the slopes end - as well as the layout and maintenance of the ski slopes enhanced with new hi-tech snow cannons. Other major improvements include a new cinema, theatre, nursery and community centre, costing about £6 million and over the next two years, another £13 million has been earmarked for additional slopes and new ski lifts. MGM's 54 leaseback two and three-bedroom apartments at Le Chalet des Dolines will occupy three linked chalets. Just a five-minute walk from the village centre, many of the homes will overlook the mountains and slopes. Currently being sold off plan, the residences will be ready by December next year. With prices only three-quarters of those for comparable homes in the Northern Alps (a two-bedroom apartment starts from only £172,000), MGM's scheme could suit families keen on year-round holiday homes. The price excludes VAT at 19.6% as it is waived under the leaseback scheme. 'Montgenevre's affordable prices and the way the resort is being improved and developed have combined to catch the eye of investors as well,' says Nathalie Turchet, MGM's London-based sales manager. Other facilities on site also include an indoor pool, fitness suite, gym, sauna, Jacuzzi, steam rooms and beauty centre with treatments and massages. For more information contact the MGM's UK office at Kingsland House, 122 - 124 Regent Street, London W1B 5SA, telephone + 44 (0)207 494 0706. * Search for prime property for sale in France