Construction work is under way on 86 new ski apartments in the family friendly pedestrianised French Alpine village of Valmorel which enjoys year round popularity.
Already more than half of the apartments, which comprise the first phase of the latest rÃ©sidence de tourisme to be built by developer MGM French Properties, have been sold off plan.
The La Grange aux FÃ©es apartments are due to be ready for occupation ahead of the start of next yearâ€™s ski season. Plans for phase two are due to be announced later this year.
It is the first new development to be built by MGM in its Golden Jubilee year. In 2013 the company is celebrating the fiftieth anniversary of the start of the business by Maurice Giraud, the father of MGMâ€™s current President, David Giraud.
Valmorel is at an altitude of 1,400 metres with access to 150 kilometres of pistes within the Grand Domaine area that links the Tarentaise Mountains dominating the Savoie region with the Maurienne Valley.
Just two hoursâ€™ drive from Geneva Airport, it has enjoyed year round popularity with French visitors since the 1970s when it was built in the picturesque timber and stone style of a traditional Tyrolean village but is not as well known among British skiers.
What makes Valmorel unusual is that, unlike so many other French ski resorts which opened their doors to countless developers during the building boom years of the past decade, the town hall pledged to preserve the character of the village by turning down most applications for planning permission.
â€˜As the choice of properties available to buy is limited, prices will be forced up in the years ahead and that has to be good news for people who invest now,â€™ said Richard Deans who is based in MGMâ€™s London UK sales office.
MGM has a reputation for taking a responsible approach to the environment. The company is a founder member of Sustain Worldwide, a business alliance that drives profitable sustainability to the heart of global property development, and is frequently is invited by local authorities in the French Alps to build ski apartments on the basis of its track record elsewhere in the region.
The prices of the leaseback apartments still available to buy at La Grange aux FÃ©es start at â‚¬192,000 for a one bedroom property. French VAT at 19.6% which is waived under the leaseback scheme.
The apartments come with underground parking and cellar storage as well as use of locker rooms, a laundry and drying rooms. Four star facilities include a fitness suite, gym, sauna, jacuzzi and steam rooms, as well as an OdesCimes spa with a variety of massages and treatments on offer.