Sales

Val d’Isère has a buoyant property market which has been steadily on the increase for the last few decades and remained somewhat immune to property, financial and inflationary crises. At the moment, demand is outstripping supply in Val d’Isère and the market is under stress. We have seen an annual price increase of around 5%, so you can expect capital gain in both the medium and long term.

Buyers in Val d’Isère are international, so no, there are no restrictions. However, it’s definitely worth speaking with a professional (a notary, accountant, tax lawyer, etc.) to find out about the fiscal impact of buying property on tax in France and in your country of residence.

At Val d’Isère Agence, we assist you throughout your property project. The key stages of a property purchase are:

• Purchase offer
• Signing a sales agreement
• Legal right to withdraw of 10 days
• Choosing the legal structure: Purchase in your own name or company name (SCI, family SARL, etc.)
• Proof of having obtained a loan
• Signing the notarised purchase (generally a maximum of 90 days after signing the sales agreement)

The Rental Management department at Val d’Isère Agence can quickly provide you with an objective rental profitability forecast for your selected properties. The rental period covers 22 weeks in winter and the forecast is generally based on 15 weeks, taking into account a period of several weeks unoccupied.

Like everywhere in France, there are two local taxes:

Property tax (which is calculated by the tax authorities based on the property’s cadastral rental value. Council tax (which is calculated by the tax authorities based on the occupier’s situation as of 1 January that tax year.) The amount payable is calculated by multiplying the property’s net value by the tax rates set by the local authorities. If the property is in a co-owned apartment building, you will have to pay co-ownership charges, including running charges and one-off charges in the event of any work on the building.

You can decorate your property however you see fit, take advantage of a 10-year warranty on your apartment and benefit from the most energy-efficient materials. Sales charges amount to 2% to 3% (versus 7% to 8% for a resale property) If you are thinking of renting out your property, you have the option to buy through France’s para-hotel scheme, which gives you a 20% VAT rebate off the property’s purchase price.

The para-hotel scheme is a specific rental activity that can be applied to buying a property off plan from the developer (as part of the VEFA contract in France). New owners of these properties can benefit from a 20% VAT tax rebate off the property’s purchase price on the condition that they rent out the property for a minimum of 20 years. However, it is a particularly technical tax scheme requiring assistance from a specialist professional.

Work that can have an impact on the structure of the building requires owners to carry out a “concrete” survey in advance and to obtain the co-owners’ consent at the AGM (if your property is co-owned).

Work may only be carried out in the inter-season periods (May-June and September-November)