SnowOnly talks to Cimalpes in Val d’Isere | Real Estate
Okay uh we are fortunate enough today to have uh Tom from simap in valair um Tom welcome um tell us a little bit about uh simap and uh and where you are and where your office is because I’m sure I’ll be insanely jealous so uh SE up is uh basically uh
In 18 uh different ski resorts today um 23 agencies in total and uh so we have open Val there um so quite a long time ago in uh in valair so which is the first basically the first agency in the upper part of the tarant valley uh which
Then uh once we’ve kind of um decked ourselves in in val we’ve opened then te Lazar and laier so we in val so personally I’ve been working for sea for two and a half years um I’m born in in valer grew up in valer so uh so
And for me and um my other colleagues who I worked with most of them as well born here my colleague is uh so we grew up together here in valer so we we know perfectly our our market and and itself as well and and and you can vouch for the
Medical system I assume because you’re still alive exactly exactly um Tom just for someone that kind of like uh I would assume that most people that buy inval a maybe this is this is contrary to what you think but I assume that most people that buy in valair are familiar with the
Val as a ski area um but for the people that maybe considering invested in V there can you just give us a little bit of the the layout in terms of the the main areas Le leai how does it work in the valley yeah so what what’s really
Interesting in Val is first we’ve got a ski resorts that’s all gravitates around one Center compared to other ski resorts like teen Corel marel where you’re more on different levels what’s interesting in Val is wherever you’re in wherever whatever Hamlet you’re in basically you’re you’re in a minimum 15 minute walk from
From the center itself so we’re we’re close from uh slopes we’re close from the center wherever we’re at in in valer um so so we’ve got L that’s at the entry of Val Val that we we uh we consider uh quite far as a walking distance from the
Center so I mean we’ve got three buses uh all all day round that that come by every five minutes uh to access to well different I mean for the center for to to go to to the nursery slopes and all that L what’s interesting is that it’s
Uh it’s a hamlet where we have ski and Scout which is quite rare in val we’ve got a lot of hamlets that actually close from skiing but not actually ski in ski out so Lei that’s one of its main characters uh the market in Lei is really different from the one that’s in
Valer in the center of valer we’re we’re closer from the market in teen in terms of pricing um because of its access from the center um but it’s I mean uh in if if you’re uh looking for a an apartment just for skiing I mean it’s great you just you just arrived skiing
Down in leai so so that’s pretty interesting the views are really nice as well quite love Sun as well in leai um then at the opposite we have LEF which is as well uh quite far from uh well four vals there I mean from from The
Village Center so that we depend as well on either the car or the bus to go in the center so these are the two hamlets the probably um far from the center um the for is uh I mean it’s one of the nicest places in the outs it’s a little
Hamlet that’s has only shallies it’s only Stone it’s only wood uh it’s uh it’s one of the oldest parts of the village so um so I mean it’s got ski access as well so slopes come down in Le so uh it’s a really calm area no
Shops no facilities in lefor as well so that’s what our clients are looking for as well being in Le being a little bit cut uh from from uh from soci well from the village itself it’s uh it’s really nice really really nice place and and then I mean
Once your your inv vals there so we we’ve got obviously a lot of different hamlets but um but that all gravitate around the center um and and we if we’re in that part we we’re talking about less than a 15 minutes walk from from anything really so so that makes it
Really simple as well for our clients because wherever you’re in in that part well you’re you’re close from everything pretty much much so so there we go just to understand Tom just um so I’m sure there has some variation but can you just give us a kind of Ideal or
A rough price per square meter that you’re going to get from uh leai the center and Le fornate how does it vary well it it varies well first depend depending on where you’re located in b as well depends on what kind of property you’re looking for if we’re talk about a
Studio wherever you’re in valer we’re going to talk about 10 to 15,000 euros a square meter okay the price per square meter in Val is mostly based on its uh on on on the number of bedrooms really uh of the apartment so if we’re looking at more than three bedrooms uh just to
Compare between Lei Le the center uh we’d be talking for three bed in leai around 12 to 13,000 Euros a square meter um obviously depending if it’s refurbished not refurbished or um well different which is similar to what teen has in its main area isn’t it the is 12
To 13 teen is around the same 12 to 13 exactly so so I mean the D Market is really close from from T um and if we go on the for for three bed uh we’re going to be talking more around um 18 to 20 23 24,000 Euros a square
Meter it really depends as well if it’s in a in a recent development or if it’s in an old uh local house as well but but that’s uh more more about it and what’s interesting with the for is f in fact five years ago nobody really considered
The for know was quite far um so the prices have gone completely crazy in the 480 in The Last 5 Years and the was still not on the prices that we find in the in the Village Center but I mean we’re getting really close to it uh and so it’s
Been is it in just specifically I I know lefo pretty well um is there is there room for more development or is it kind of maxed out now and the resil market Hing in well I mean Le and Val are quite similar in a way because of we’ve got a
Lot of areas that are um basically I mean there’s when you come to Val a there’s a lot of room you think well we can build here and here but actually we’ve got a lot of avalanche risk in valer which in a way uh as a local as
Well is quite interesting and quite good for the ski resort that mean too much as well new developments today uh and as I said I’m talking about the for it’s the case as well in valer except well basically buying an existing uh building and renovating and renovating or or or rebuilding it
Completely there’s no real expansion solution really yeah so but even so so what what what’s the what’s the price per square meter in the center of town you said it’s roughly about it must be slightly higher than the for at the moment what’s the kind of bedom there
Well it’s it’s going to be a big big difference but it really depends as well on on the floor on I mean if you’re on last floor today today the the maximum price per square meter we find in val there is in new built on top floors we’re talking about 55,000 EOS a
Square meter knowing on that you can claim your vat back you’ve got lower notary fees as well um so that’s to take into consideration as well uh but generally on the three bedroom now it’s really complicated to find um less than uh 20,000 square meter in the
Center of Val there this is of opening up so many questions for me I’m so interested by the market in val Desair um firstly what what do you think what do you think justifies what is the appeal for Val Desair that justifies the prices that that are kind of being
Offered well I think there’s different several reasons is first Val as I said earlier is is one of the only ski resorts where where all gravitates around one Center so it makes it really easy to um to to just um walk around and and the access to everything is really
Easy um secondly we can’t build more than what we actually have as I said what we build is actually existing lots that are actually well all refurbished or renovated so there’s not not more apartments in a way um and we usually uh well Developers usually take
Big residencies that are where we find a lot of studios and actually do bigger Apartments so we actually have almost less and less um uh apartments in a way um so that’s one one fact uh the the fact that uh I mean the the ski conditions have always been uh amazing
In vales there we’ve always guaranteed our openings uh we open end of November and we close end of May uh beginning of May sorry um so so that’s re interesting and even on periods where we and and Winters where we don’t have too much snow the fact that Val has all it all
Their slows coming down to the ski resorts the Exposed on the North part exposed North that means even on years we don’t have a lot of snow we’re actually able to keep it because it’s quite quite in a way so I mean we know that Val one one problem that we have and
What people tend to say is that there’s null of sun which in a Way saves us uh uh well saves the fact that we we we’re able to actually keep keep the snow because of uh of not having too much any way so Tom something you mentioned earlier which is really interesting for
Me so obviously if you go through the funnel of buyers inquiries um you always get a lot more people that want to kind of live the dream but can’t necessarily afford it so you get a lot of people that inquiring after Studio properties one bedroom two bedroom and and there’s
A lot of resorts that kind of offer that but you’re kind of suggesting that that’s not in demand in val Des a and the demand is from three bedroom maybe upwards why why is that no what uh well basically originally valair when it started to be a ski resort uh it’s
Been built to actually bring as many tourists as possible so it was a lot of um a lot of little units it was Studios so we always had we’ve always had a lot of studios in valet or small apartments the big apartments that we had well except a few exceptions but
Were most mostly uh locals that had big Apartments uh so now what we’re finding out is because of the clients that have changed the demand has changed and the and Val Zer is now now quite a high standing ski result in the Alps so people looking for Comfort people are
Looking for for bigger Apartments uh our clients are looking to to come with their families and friends so that now in development new new builts uh basically we can’t find small apartments in New built oh well we start on a minimum of roughly 80 square meters
Up to 400 square meters in new buildt to to actually um well respond to that Demand on on bigger bigger Apartments but we do uh have every type of apartments from the studio to to basic basically to the Shelly but new buil Now is really concentrating on bigger Apartments
Exactly yeah so obviously we as you said the new bills in terms of people doing the renovation stuff um for for me V has clearly positioned itself as a luxury Market compared to some of you know like the other Resorts and even satellite Resorts um we’re kind of fully aware of
That um uh for for um I forgot my question now um let me move on I will come back to it because it was really important one what is the kind of future for uh valers a and the kind of development and the pipeline that you
Have going on there well the the well first in terms of snow uh we’re we’re quite well we’re even really optimistic about this what makes as well the price as well in Val is there there’s there’s quite um a general um how to say it um people are quite
Worried to to invest in low ski resorts now so we’ve got even that we we usually had a big demand in val we’ve got as well all these people that are not too sure investing in in low sky results there are now as well looking in higher
Ski resorts so um yeah yeah so that’s uh that’s one thing you just uh ask your question again sorry yeah I now I come back there so like in terms of the three-bedroom we see kind of a lot of people that are kind of like they have a
Desire to be in valer air but in our experience and it might might not be your experience so I’m happy to hear the other side of it they can’t find what they’re looking for how much how much property do you actually kind of have available how quickly kind of does it
Turn over um and do you have the same thing because obviously there’s not you’re not building in red zones where there’s avalanches and you can only have kind of what you what you have right so is it easy to find find people property and and kind of how quickly is that
Turnover of property it’s uh it’s I mean Val there we’ve got a lot a lot of demand so I mean we’ve got probably 95% of demand and and 5% of offer so that what makes what that is what makes it quite difficult to find a property in val there um
Just to in up there so how typically um it’s probably another one to the question how typically uh do do do do the proper properties like the ones that have kind of been renovated great Lo how long do they even last on the market and and and for anyone that’s even
Considering can they afford to wait like we get a lot of people that go like yeah I like that property I’ll come and see it in four weeks what you’re kind of telling me is that if they wait four weeks it won’t even be available well yeah uh I mean uh
Apartments can go really quick as well um I mean if we’re talking about top floors uh depending on the location the exact location that I mean matters a lot and and their apartments that can go really quick I mean usually an apartment in val doesn’t stay more than two months
On the market um the fact is we have we’re in two years now where we have a lot of new buil as well so I think that obviously these properties don’t go all all at the same time but um so I mean that that I mean it can
Take a little bit longer as well to sell because we’ve got at the moment a lot of new built uh which is uh which is really good in a way because we we we’ve got quite a lot to to offer our clients now so um so I mean there there’s no
Rush in a way either uh I think that um we what what’s interesting with seap is our clients we know them really well we we we qualify them really well as well so I mean when we have an apartment that pops out sometimes we don’t even uh
Actually Market it we we know our clients so well that we just call them we know that what they are looking for and and say well listen I just uh I just have this apartment for sale that’s in uh in the location you were looking for
At the price you were looking for it’s it’s a oneoff basically and and there’s a lot of one-offs in B there as well um so so that happens quite a lot yeah and and and I assume that that that’s a pretty good marketing um play there Tom
So if anyone that’s listening that wants to be in that you need to contact Tom and then he can pull you up and then sell you an apartment that’s pretty much how it works right so what what’s considered like within valer a what what what areas are considered like the the
The the the premium places where people generally want to you know there’s a real rush for property and and even in that area does much property become available um so we we’ve got I mean the the the Village Center the Old Village is probably most um looked for location
In valer because it’s close from the center it’s really really quite and it’s got that architectural look that everyone loves in Val and what they actually looking for when they come to Val there so that that area is is really looked for uh so so we we rarely have Apartments there
For sale because a lot of locals live here as well um the the Olympic Avenue the the nursery well the uh the close from the the nursery slopes that’s I mean the premium location uh the problem here is we’ve got a lot of hotels as well on the
On the nursery slope so not too much Apartments either um Le leure Taz is one of the new hamlets that have boomed in the last five years as well where and that answers to a problem we have in val as I was saying earlier we we have a lot
Of close from slopes but we don’t actually have a lot of actual ski in ski out and Litas is skiing ski out I mean and uh um and so that is one of the hamlets that have gone completely crazy in valer since the last three through four years
Uh with a lot of new developments in that area uh the prices have gone from uh uh five years ago we valued 12 to 13,000 EUR a square meter now we’re valuing it over 30,000 EUR a square meter so it’s it’s gone and it’s h it’s
A real premium Hamlet as well where you have only uh premium Apartments shall um yeah it’s quite interesting it s it sounds like I think with with other Resorts that may be a little bit more spaced out if you bought in is there my writing saying that it
Seems like a pretty liquid market so in terms of you selling it you could pretty much sell anything within reason within probably two months if you putting it on the market would you say so and you probably wouldn’t lose money doing it I assume no what what we tend to say is a
Lot of people ask us I mean they’re willing to rent their property while they’re not here um the the rental market and the rental investment is probably not really interesting inv Val there in terms of what you’ll gain on the rental compared to what you’ve invested in in the property but the real
Investment is we’ve got a market that grows so much over the years that what you’re actually buying is gonna obviously take well gain value and you’ll you’ll sell it with a plus value at the end whatever happens really that’s that’s interesting Tom can we just kind of segue onto something just
To kind of like eradicate the question for people that are considering so obviously um I’ve just spoke to your colleague Seb in teen and and and not that it’s predominant but there is obviously a lot of buy toet options so if if people aren’t asking about the ROI
Um on the uh properties in valer a is most of them outright purchases or do you just do you still have some buy toet options in Resort sorry can you say that again do do have do you have any kind of buy toet options in Resort or most most people
Doing it for as you said maybe lifestyle and then the capital appreciation at the end it’s uh the main uh reason people buying valer it’s it’s first for them and for for uh um to enjoy the property and it’s for them first the rental is
More like of a well to if if they don’t use it they usually rent it it covers the the fees of the Cod Pro it covers part of the investment but that’s not why people buy Val first reason so um these are kind of leading me on to
Other things so in terms of again what Seb said about warm beds in valer a if you have predominantly a market where um there’s a lot of ownership with no necessity to rent um are you still getting a lot of people that are doing the rentals to make Val Des a active in
Both summer and winter or does it tend to have periods where nobody’s there we do have periods where nobody’s there uh I mean obviously winter is the main uh period where people come to Val where the whole village is actually open all the hotels all the shops are open um
Summer has been probably put apart for quite a long time um we usually always had a lot of owners that came back during the summer but that was mainly it but since co uh I mean there’s a real I mean we’re really considering summer because of right after Co basically
We’ve done the best summer ever and can I just expand on that Tom what what why why was why was that because I personally for me like valz era has always been specific for a winter result and and for me one of the best winter results that I’ve been to but it doesn’t
Have the best reputation for summer so is there a concertive push to make it uh make more people come in this summer and and do they do you know any plans of how they’re going to do that well the main reason valer is not to to looked for as
Um as a as a summer ski well summer result is the fact that first we’re we’re actually a now drive more than any other ski resorts in the alms really so it’s it’s quite far um but I mean you if you come to Val it’s it’s a deserved as well place so
So so um I think that there as I said there’s a real coner we we really considerate summer now uh in terms of rental point of view we we’re not able today to say well it’s interesting for rentals most of our clients on the summer take off their
Their properties of the rental market because it’s not that interesting for them um but I mean in terms of activities in Val and around uh I mean we’ve got the cold which is the highest coal in in Europe um so we we’ve it it it’s really different uh I mean in in in
Win we’re a high standing ski resort really uh I mean with a real sport aspect as well um but in the summer it’s really different it’s like a Alpine Village more than a real uh Resort itself it’s completely different uh people love the summer in valer and I
Think we we’ve got a lot of clients that are actually not coming to valer in the summer because they didn’t actually know valer in the summer and once they purchased the property to in in to actually use in the winter while came in the summer and now they always come in the summer
So I think it’s important to kind of give some perspective on obviously the summer and winter we always have to deal with every conversation in terms of obviously the climate change and in terms of um having that kind of all around dual Season Resort that we’ve
Kind of propped up about 10 years ago that that isn’t just predominantly skiing it’s a mixture in everything in terms of the mountain biking the the markets the activities that are going on I think Seb in teen suggested that it’s part of the tour to France that goes
Past valer a as well so there’s obviously things going on um but um I think maybe it just needs to have a little bit of good PR to kind of drive a lot of people to V Des a in the summer it seems like the only person people
That really know it are the owners of at the moment so your recommendation that you should try bow as there in the summer as well exactly because people that don’t come in the summer haven’t tried Val there in the summer to be honest and all the all the people all
The clients I’ve been talking to that actually have come for the first time in valer in the summer now are planning to come over the years so I mean it’s um uh it’s not known enough probably uh and and I mean there’s plenty of activities
As well in val around Val I mean it’s an hour and a half drive from Italy you you you can go well we’ve got the coal so I mean um a lot of cycling a lot of hiking a lot of a lot of different activities I have to say that all the
Village is not open we only have six to seven hotels open all the shop in the Main Street are open so um um yeah so I mean there there’s a a real nice General activity but it’s it’s really different even the clients Chang it as well um but
But it’s uh it’s fresh air it’s uh it’s it’s really different really just just what you say about the client I’m kind of interested about that what what is your is your what is your typical clientele for buyers in val Des a would you say in terms of nationality no not in terms
Nationalities you can do but kind of like the general feeling of what people if you’re looking for example tenis is is an easy comparison the people looking for maybe lesser lifestyle bit more investment um opportunity in that sense what would you say that that was um in
In valair who which type of people they are attracted people that are kind of based in Geneva that the weekend a little bit more money well Val is for for as we tend to say for Val lovers I mean usually people that won valer won nothing else than
Valer I can I I fully understand that yeah I get it I get it so because of its uh well as I said it’s easy it’s on one level it’s one ski resort it’s the architecture in Val is just out stunning it’s only wood Stone uh and that’s what
People love in valer it’s it it’s uh the architectural taste is preserved um even in new build the new bu we have in valer from an exterior point of view it looks like it’s always been there really so so it’s a real Village that lives all year
Round obviously if you come in November I wouldn’t recommend either to come but um but it’s uh it’s it’s a real little village and I think it’s even if we tend to say it’s a high standing ski resort which it is in a way it’s people are
Coming here for the ski mostly for the ski conditions the uh I mean we’ve got an amazing ski area with teen as well uh off off piec and onpiece so people come to Val for the village and the skiing and obviously uh because we’re we’re becoming a a really high standing um ski
Resort but but it’s it’s not like maev where you’ve got um a really nice col Intel but that don’t doesn’t obviously come there for for skiing and does only come here for uh skiing AIS ski um well not ski just just AIS ski and um so so
There we are I mean we we people mainly come here for the ski yeah yeah still still that’s the case slightly higher clientele want a little bit more in terms of the luxury product in a in a beautiful Resort um at altitude but still predominantly for the skiing
Exactly no it’s a it’s a it’s a good one um as I said to se I know you know him so I always reference um but if you if you could buy in val Desair what would what would you purchase let’s say I gave you a budget let’s not go too crazy but
If I gave you a budget of around which is I guess out the funnel around $2 million what what would you consider as a a good you’re going to tell me nothing’s available at $2 million $2 million I think is a good price point where would you consider
What do you think you can get in terms of value for money it’s very difficult to find the buyers and I’m not saying that’re out there not out there but you know at the 10 15 20 million there there’s less as you kind of go through the funnel so if everyone had like
Around two two and a half million dollars to spend where would you be looking um well for me wherever you would buy inv Val there with 2 million in any budget you you wouldn’t lose your money it’s always a question of of taste of what you’re looking for if if the the
Access to Village is more a priority from uh the the ski Axis or uh but I mean if it’s an investment point of view do you mean or if it’s well no no I’m talking about you specifically where would you buy not from a not from a
Buyer’s point of view I given you a 2 million budget that sort suits your lifestyle where would you be purchasing well I’d be purchasing in probably lrae or the for because it’s two really calm areas um I I would purchase in these uh areas because if uh you’re living all
Year round here that’s where you want to be uh if you’re just coming for a week in Bower well each time you come it’s just for a week or 10 days uh it’s probably not the best place to be because you’re looking for convenience if you’re coming ex exactly I mean if
You’re looking um long stays uh to be in a calm area I mean that that’s the two two main locations I’d be looking at just out of Interest Tom um how how in in a car just to give people some perspective in a car how far is it to
Drive from Val Center to lefor it’s not even a 5 minute drive oh not even five minutes we tend to say it’s far because it’s far for Val there but if you compare it to to to other thing I mean we it’s literally right right next door and and and parking in
Val is a an issue or is it is it pretty pretty easy um it it’s pretty easy I’d say uh the parking has always been a real subject in B because uh we we’ve always had had more uh apartments that we the the the parking spaces so now there’s no real
Issue what’s really interesting in Val is you arrive on the Saturday on the Sunday you leave your car in the garage and you don’t use it at all during your stay um yeah so I mean while you’re in valer you don’t use your car you just
Use a car to come to valer and to leave Val while you’re here you don’t even touch your car which is really well as were comparing to other ski resorts that are on levels you depend on your car or on the bus Val you actually don’t depend
At all on your car yeah yeah everything’s within pretty much walking distance yeah and the buses are really regular they’re free um I mean the that’s what makes it really easy as well yeah Tom I think we’ve we we’ll wrap it up there we’ve given a brilliant account
Of everything that’s kind of available um price per Square metage obviously access to everything what makes bazer appealing how the winter season’s kind of shaping up um before you go I just want to ask you one question um if you had one day to ski would you ski in
Valair or team 100% in there is that the honest truth oh that’s the most yeah nothing but honesty on that that point okay we will believe you we will what’s if run there then I’ll probably say the okay or the fast Bard oh really yeah okay maybe I should have
Maybe I should have said for maybe a bit of a more of an intermediate skier if your is the the or ke so the okay slope is is probably the best slope all the the mongar as well that comes down in the for is really nice as well yeah
Actually um uh although we wrap this up um didn’t they develop a blue run that went down into valair not many years ago maybe I’m maybe I’m maybe I’m wrong I thought because I always kind of got the impression that coming into valair was never the easiest run home and I
Thought that they kind of changed one of the runs to be a blue run to make it a little bit more accessible to people that’s that’s one of our main um issues here in B which for me is not obviously an issue probably because um uh but I think that what’s difficult for
Val is coming back to the ski resort it’d be only a red or a black run even our blue runs are mostly considered as red runs um which doesn’t make it easy but that’s why I was saying I mean people that are coming to Val want
Village and and are really good skars um because and and that’s why we don’t have too to many uh Russians they’re more likely to to they like just scheme for for pleasure easy easy skiing uh well all the the Arab clientele as well from there uh that’s why we don’t have too
Many inval there as well because of because they’re looking more for uh I would say easy skiing Val is Real Sports skiing so and that’s why I mean we’ve got a lot of uh Brits in val because Brits are really good skiers uh and
And that’s one of I I think I think from the British clientele like valz AA is so synonymous with with ski resorts and it’s such a it’s such a strong desire to want to go there and I I think as you said for the for the Ambiance uh for the
Ski in itself and just having such a beautiful town so yeah it’s it’s it’s it’s why I go for sure Tom thank you so much for your time um I will leave you to it but I really appreciate your time um I will put in all the links below for
If anyone wants to get in touch with Tom and buy a beautiful property then Tom certain help and and as I was just to come back on on one point is that what what I find Crazy is we’ve got more and more people that come from South America
Uh even Canada and America where even people come from Aspen because of the snow conditions here in valer uh I mean it’s uh it’s really different snow it’s it’s a it’s a different different ski level as well so um so there we go Tom that’s a wonderful point to finish on thanks for
Your time buddy thank you goodbye goodbye pleasure
Mark Lightfoot from SnowOnly chats with Tom from Cimalpes in Val d’Isere, Tom was born and raised in the area, so is a great person to chat with to answer questions about how Val d’Isere has evolved and what the future looks like, we discuss the ski area and what is being built in the area and what area are considered the best for investment. We also discuss the type of buyers coming in to Val d’Isere and how liquid the market is.
You can contact CIMALPES here: https://snowonly.com/agent/cimalpes/contact