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Investment Property in the Alps

 Poster: A snowHead
Poster: A snowHead
@DTB, The fees seem about right for a 28m2 apartment. We pay about 2500€ pa for 35m2 in Les Arcs which covers, the building, heating, hot water, wifi, caretaker etc. but check what is covered. Some immobiliers don't cover heating in their service charge. Remember local taxes will be on top of that.

The purchase price of roughly 2000€ per m2 looks good value to me. It's a shame it doesn't have a cave. The 188m2 place looks excellent.

I think from Orelle other ski resorts such as Val Cenis and Bonneville are readily available. Like you, I personally would hate to have to get a bus to the lift, especially with children. It could be why it's so cheep.


Last edited by Poster: A snowHead on Thu 22-07-21 11:24; edited 1 time in total
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 Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
DTB wrote:
Hi all,

As this thread has gone quiet, hopefully it is ok to jump in, I’m quite tempted by https://www.leboncoin.fr/ventes_immobilieres/1988840136.htm?ac=558505705

Any thoughts on buying into a maeva development, the fees seem high?


Nothing wrong with Maeva, they're highly reputable and trustworthy. As others have said, you'll be subsidising the pool etc. with your fees whether you use it or not which is why they're high(ish). It would be worth checking how long Maeva will continue to be responsible for the building - once they're gone it will be in the hands of the co-prop.

There's a new gondola due in 2021 that will link Orelle with the top of VT (Cime Caron) that will make Orelle a much more usable option for bigger ski days. Price is good for the size so it really depends what you want from a ski apartment. Orelle's pretty dead for socialising so if all you want is a bed and a ski lift it's fine. If you can afford to just drop the cash and know you always have an available place to stay in the alps, then it's good. If you're expecting rental returns when you're not using it, or borrowing the money to fund it, I'd be much more wary of investing in Orelle.
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 Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
DTB wrote:
Hi all,

As this thread has gone quiet, hopefully it is ok to jump in, I’m quite tempted by https://www.leboncoin.fr/ventes_immobilieres/1988840136.htm?ac=558505705

Any thoughts on buying into a maeva development, the fees seem high?


I looked at a much better studio than that in the same block which was on sale for 39950 a couple of months back. The place was a studio but with a separate bedroom for kids (bunk room with window) and the bed area in the studio could have been separated into another bedroom. There is always stuff coming up for sale in that block, why? Rats leaving a sinking ship?

The missus was dead against going any further so didn't look into the legals and everything.

Maeva have a really bad reputation in that block, so be prepared for annoyed guests. The pool has limited opening. The costs are very high which was a thing that put me off, you've got to stump up a lot of cash each year and if you let Maeva manage your flat and rent it out you get little access and little money from what I could find out. Orelle has really nothing much going for it, it would have suited me personally as a base for cycling although it is insanely hot and windy in that part of the valley in summer despite the 800m. altitude etc but it is a bit of a PITA if you don't have a car. Car parking is apparently an issue if you don't have a reserved space.

The building apparently suffers from shoddy build quality.

I found an advert for that building from when they were first built and the sale prices were around 100K, so why are they 50K now, I didn't find out but am curious.

Hope that helps a bit, some big Red Flags for me.
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no idea what you plans are, but Orelle would be niche/limited if renting.
Cheap backdoor into Val & obviously other skiing if you are driving.
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 Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
I think provided the fees are not exhorbitant then access to the 3 Vallees for €59k is a decent deal.
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Mr.Egg wrote:
no idea what you plans are, but Orelle would be niche/limited if renting.
Cheap backdoor into Val & obviously other skiing if you are driving.


That's always been my feeling re Orelle. The lack of amenities in the village is what has put me off. I'd sooner look towards St Michel de Maurienne or Modane and drive to the relevant resort, but have more space for not much more price.
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 Then you can post your own questions or snow reports...
Then you can post your own questions or snow reports...
I have been doing a bit of googling, I think it is a leaseback which may be ending next March, no response yet from the real estate agent.

I have also been using DVF (https://app.dvf.etalab.gouv.fr/) which as far as I can tell from searching in SnowHeads, has not been discussed here, though if anyone is familiar with it, I would be keen to read your views.

Anyway, as far as I can tell there have been 15 sales out of 170 odd apartments in the development since 2016, 3 in C block, average price 2,260m2, though that is bumped up a bit by someone who appears to have paid 3,600/m for 2 adjoining apartments.

It would be used as a bolt hole for my wife and I, as the kids are not around much, I am considering spending another winter in the alps (our first since 93/94) as am on gardening leave until next May, and realistically, will be 57 so what form my participation in the workforce will be is debateable. Mrs DTB works Tue-Thur, so could join me for long weekends, school holidays etc
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 After all it is free Go on u know u want to!
After all it is free Go on u know u want to!
@DTB,

If you had access to a car, then st jean maurienne or st. Michael maurienne would give you much better value.
nothing in orelle except a car park and lift & assuming you have a car to get there anyway.
However, that whole stretch from st jean to the tunnel offers st francois de longchamp, les sybelles, valloire/valmeinir, val cenis, etc. Lots of skiing!
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I am an owner of apartment in the Orelle complex. 52m2 with a double bedroom and twin ensuite. Area in lobby for extra sleeping if required.

I can confirm Orelle makes an excellent skiing and cycling/summer sports base. It is a quiet village but really pretty and v easy to access. Also easy trips to neighbouring big and small resorts in Maurienne. We were having a bumper season prior to Covid which has been a bit of a bummer. However with new telecabin extension to Cime de Caron opening in Dec, it will become even more popular as a back route into 3V.

I may well be interested in selling soon to help fund retirement pot. The current commercial lease is due to end next year as already stated in previous post. If anyone is vaguely interested in a private deal without an agent involved, then try me out!
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Have just sent you a PM@wetheral1,
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I will probably in the same position as @wetheral1, I own the largest type of apt in the development which is a three bed two bathroom with car space etc. @wetheral1, is correct the easy access to high altitude skiing and good cycling country in the summer with the low relative property prices makes orelle a good value bet etc
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 And love to help out and answer questions and of course, read each other's snow reports.
And love to help out and answer questions and of course, read each other's snow reports.
Hi folks, for those that have places in Orelle, is there anything that I need to consider as a negative?

@wetheral1, I’d be keen to speak to re property and your place.
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So if you're just off somewhere snowy come back and post a snow report of your own and we'll all love you very much
@sparkzter, they are small….. for the amount of people they are supposed to take. Mine is 3 bed and I would say it will take four people comfortably and six would be tight, they adverttide it for 8! A lot of French places are like this. Go for the biggest you can afford
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 You know it makes sense.
You know it makes sense.
@wetheral1,

Did you manage to sell your place?
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 Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
This place looks a bargain. https://www.logic-immo.com/detail-vente-c95b7d7a-5960-e9ee-f7c0-dee6d7b9c0c8.htm?mea=exclu
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 Poster: A snowHead
Poster: A snowHead
That looks similar to mine, if so they were 250k when they were built
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 Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
@ajc2260626, makes me wonder what is wrong with it then.
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 Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
Nothing wrong with it at all Eh oh! , however if you paid €200k for one you might think there was

They are small though, that apt when advertised for rent is for 8 which is ridiculous
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@ajc2260626, I bet, it does seem like a huge drop in price.
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 Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
44m2 is enormous. We have friendsing out an 11m2 apt at the moment!
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ajc2260626 wrote:
Nothing wrong with it at all Eh oh! , however if you paid €200k for one you might think there was

They are small though, that apt when advertised for rent is for 8 which is ridiculous


THere could be issues with the building or big maintenance coming up. Due diligence for that.
Apart from that, there is nothing in Orelle.
Yes you have easy VT access. However the towns you will be running to for supplies St Jean & St Michael de maurienne gives you access access to orelle, Valloire/Valmeiner, Les Sybelles & St Francois longchamp all within a 30min drive.
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 Then you can post your own questions or snow reports...
Then you can post your own questions or snow reports...
under a new name wrote:
44m2 is enormous. We have friendsing out an 11m2 cupboard at the moment!

FIFY
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 After all it is free Go on u know u want to!
After all it is free Go on u know u want to!
@Mr.Egg, thats why something that big is that cheap, ie its not a resort but gives you direct access to high altitude skiing etc, which might be useful with the climate going the way it is...... if you were in tignes something of that size would be 4-5 times that amount for example...... depends what you want, cheap skiing accommodation or a lot smaller place in a bigger resort etc
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@holidayloverxx, titter.

It's a big enough cupboard to have a kitchenette. Fry your breakfast without getting out of your bed!

https://www.airbnb.co.uk/rooms/50767296?check_out=2021-09-09&check_in=2021-09-01&adults=1&s=10&unique_share_id=066AFBDC-F6D9-43CE-9370-A745EA15003A&_branch_match_id=865113586728408994&source_impression_id=p3_1630918846_kO4nhXd5Q4EHChub
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> That looks similar to mine, if so they were 250k when they were built

As I said in my post, the fact they've halved from their original sale price is a bit odd, most places have increased in value.
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 snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
@under a new name, very nicely done out though.
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 And love to help out and answer questions and of course, read each other's snow reports.
And love to help out and answer questions and of course, read each other's snow reports.
@davidof, are you of the SAS set up with alain? or did you go it alone?
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 So if you're just off somewhere snowy come back and post a snow report of your own and we'll all love you very much
So if you're just off somewhere snowy come back and post a snow report of your own and we'll all love you very much
@Hells Bells, they have excellent taste. And it's doing very well snowHead snowHead
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 You know it makes sense.
You know it makes sense.
@davidof, i think that all the places in orelle have dropped unfortunately, also that flat may still be in the leaseback contract which if it was would also deflate the price.....
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 Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
@under a new name, Wow regardless of size that has to be the smartest decor I have seen
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 Poster: A snowHead
Poster: A snowHead
@under a new name, it looks amazing. Perfectly planned of course but the esthetics are overwhelming.
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 Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
under a new name wrote:
@holidayloverxx, titter.

It's a big enough cupboard to have a kitchenette. Fry your breakfast without getting out of your bed!

https://www.airbnb.co.uk/rooms/50767296?check_out=2021-09-09&check_in=2021-09-01&adults=1&s=10&unique_share_id=066AFBDC-F6D9-43CE-9370-A745EA15003A&_branch_match_id=865113586728408994&source_impression_id=p3_1630918846_kO4nhXd5Q4EHChub


ive stayed in worse IBIS rooms for the same money.
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 Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
To be fair, it looks amazing
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ajc2260626 wrote:
@davidof, are you of the SAS set up with alain? or did you go it alone?


None. I looked at an apartment in that block but despite the good price (39K) and the good layout the charges (2k/yr) put me off going further. YMMV.

Having one house in the Alps is quite enough of a headache really.
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 Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
@under a new name, oooh who did the kitchen fit out?
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