French ApartmentsFrom the glamour of St Tropez to the slopes of the Alps, France has lots to offer Irish buyers looking for a leaseback option.

Colliers Jackson-Stops is selling homes in a development of 33 one and two-bedroom apartments in the pretty medieval village of Ramatuelle, which is located just five minutes from St Tropez.

The small development is located in a beautifully renovated residence complete with terracotta tiling and exposed wooden beams.

The recently completed apartments at Les Bastides de Ramatuelle are being sold on a lease-back basis for a period of 11 years, with a guaranteed annual income of 5 per cent net (with no usage) or 4.5 per cent if owners opt to use their apartment for two weeks a year.

One-bedroom apartments with 26-37sq m (280-400sq ft) are priced between €331,442 and €471,863.

Two-bedroom apartments measuring 41-58sq m (441-624sq ft) are priced between €519,935 and €729,932. Prices include furniture and car-parking, fees and renovation costs. Because the scheme is a renovation project, VAT can be recovered on the renovation costs, car-parking, furniture and project fees.

Facilities at the development include a swimming pool and Jacuzzi. The nearest beach, at Pampelonne, is a 10-minute drive away.

La Bastides is one-and-a-half hours from both Marseille and Nice airports.

Meanwhile, Colliers Jackson-Stops is launching apartments in the pretty ski village of Montchavin off plans this week.

Situated in the La Plagne ski area, residents at Les trios Glaciers will have access to more than 425kms of ski slopes in the winter and popular hiking and mountaineering routes in the summer.

Set above the village, the development comprises 67 fully furnished apartments and includes an indoor swimming pool and sauna.

It offers views of Mont Blanc and access to the ski areas of La Plagne and Les Arcs.

Prices start at €112,000 for a 25sq m (269sq ft) studio with cellar and terrace or balcony.

One, two and three-bedroom apartments, measuring between 36-75sq m (387-807sq ft) with balcony, cellar and underground car-parking range from €156,000 to €257,000.

The apartments are being sold on a leaseback basis for a period of 11 years. An invest lease with no usage guarantees an annual income of 4 per cent.

Buyers can opt for up to eight weeks of personal use throughout the year. If buyers, for example, opt to use their apartment for two weeks in low season the yield will be 3.8 per cent.

The resort is two hours from Lyon and 2.5 hours from Geneva. Completion is due in December 2007.

Capital appreciation for apartments in the French Alps was 21.4 per cent in 2004, according to the selling agent.