The Lumina in Les Gets: Why Les Perrières Offers Exceptional Value for New-Build Alpine Buyers

Every new-build Alpine development is pitched as exceptional value, and most of them aren’t. The vast majority of off-plan projects in sought-after ski villages trade at or above the resale pricing for comparable central-village stock, which makes the investment case hard to justify unless the specific building happens to tick several unusual boxes — location, construction quality, plot characteristics, and pricing relative to directly comparable alternatives. The Lumina, in the Les Perrières hamlet of Les Gets, is one of the rare developments that actually deserves the exceptional-value label, and understanding exactly why is useful both for buyers considering it specifically and for anyone learning to evaluate new-build ski apartments more generally.

Les Perrières sits at the edge of Les Gets village, about a minute’s drive or a brisk 15-minute walk from the main centre. It’s the quieter side of the village — smaller in scale, more residential in feel, and lacking the direct lift-at-the-doorstep access that central Chavannes-adjacent properties offer. That geographic positioning is the key to the Lumina’s pricing: it sits at a meaningful discount to central new-build while still delivering a direct two-minute walk to the Les Perrières chairlift, which gives lift-to-village access and skiing into the full 650km Portes du Soleil network. For buyers willing to trade immediate central-village bar access for a quieter hamlet setting and a materially lower price point, the maths can be compelling.

This guide walks through the Lumina in detail: the location, the building specifications, the apartment types and pricing, the VEFA mechanics (including the 20% VAT reclaim that transforms the investment case), the rental yield expectations, the ongoing ownership costs, and the specific comparisons against central Les Gets new-build that allow you to evaluate whether the Les Perrières positioning works for your use case. Along the way we’ll flag the practical things first-time VEFA buyers need to know about delivery timelines, staged payments and what to look for in a reputable developer.

Les Perrières is a small residential hamlet on the western edge of Les Gets, sitting at around 1,200m elevation — slightly above the village centre. The hamlet is reached by a short tarmacked road that climbs gently from the main village street, and the journey takes under three minutes by car. On foot, a pedestrian path connects Les Perrières to the central village in roughly 15 minutes, and a free shuttle bus runs through the hamlet during the main winter season at 15-20 minute intervals for those who prefer not to walk.

The defining characteristic of Les Perrières is its direct access to the Les Perrières chairlift, a six-seat detachable lift that feeds directly into the main Les Gets-Chavannes ski sector. The Lumina sits within a two-minute walk of this lift, which means ski-in/ski-out access in the functional sense — you walk out of the apartment in ski boots, cross a short path, and you’re on the lift. From the top of the Les Perrières chairlift, the full 650km Portes du Soleil network is accessible within 10-15 minutes via the linked Chavannes and Mont Chéry sectors.

The hamlet itself offers a supermarket (a small Sherpa), a couple of casual restaurants, and a bakery — enough to cover day-to-day needs without driving to the main village. For evening activities, restaurants, shopping and the village nightlife, a short walk or shuttle ride to the centre is the standard routine. Most experienced Les Perrières owners tell us this arrangement works well: the daily skiing convenience is ski-in/ski-out standard, while the evening walk into the village for dinner is a pleasant ritual rather than an inconvenience.

The Lumina consists of 20 apartments arranged across a single building with a traditional Savoyard façade in stone and larch wood — a deliberate architectural choice that matches the village’s historic building language rather than imposing a modernist aesthetic on the hamlet. The developer has prioritised long-term quality over visual novelty, which is the right call for a village where planning protections are tight and resale values reward authenticity.

Internal specifications are to the modern new-build French standard: high thermal efficiency meeting or exceeding RE2020 requirements, triple-glazed windows, individually controlled underfloor heating, fibre-ready internet infrastructure, and generous ski storage including heated boot-drying lockers in the communal basement. Apartment floorplans range from 2-bedroom units of approximately 50-60m² to 4-bedroom duplexes of 100-130m², with most featuring south- or west-facing terraces and balconies to capture afternoon sunlight and views across the valley.

Communal facilities at the Lumina include an entrance lobby with ski storage, an indoor wellness area (spa, sauna and potentially small indoor pool depending on the final build specification), private parking in the building’s underground garage, and secure bicycle storage for summer use. The management structure is standard French co-ownership (copropriété) with a monthly charge covering building maintenance, wellness area upkeep, and communal energy costs — typical ongoing charges for a two-bedroom apartment of this quality run €150-250 per month.

Lumina apartments are priced in the range of €7,000-8,500/m² net of VAT — substantially below the €11,000-14,000/m² that comparable new-build apartments in central Les Gets are currently commanding. For a 55m² two-bedroom apartment, that translates to an entry price of approximately €385,000-470,000 net of VAT, versus €605,000-770,000 for equivalent central-village stock. The delta is genuinely meaningful and reflects the location trade-off (15-minute walk to the centre vs. immediate doorstep) rather than any compromise on construction quality, specification or lift access.

The 20% VAT reclaim is applicable to the Lumina for buyers committing to classify the property as a residence de tourisme with rental operation through an approved management company for a minimum 9-year period. On a €435,000 VAT-inclusive two-bedroom, the reclaim represents approximately €72,000 returned to the buyer — staged over the first few years and effectively bringing the net acquisition cost down to around €363,000. This is a material adjustment to the investment maths and brings the effective entry cost well below most resale pricing for comparable addresses.

Notaire fees at the Lumina are reduced to 2-4% of the VAT-inclusive price (versus 7-9% on resale), reflecting the VEFA new-build framework. Combined with the VAT recovery and the expected rental yield, the total-cost analysis for a buyer committed to rental operation is distinctly favourable. For buyers planning primarily personal use (no rental), the VAT recovery is not applicable and the effective price is higher, but the location-based discount vs. central Les Gets remains compelling regardless.

VEFA (Vente en l’État Futur d’Achèvement) is the French legal framework for off-plan new-build purchases and is the only route available for buying at the Lumina pre-completion. The process follows a specific sequence: a reservation contract (contrat de réservation) is signed first, with a deposit of 2-5% held in escrow; the formal VEFA contract is signed 2-3 months later at a notaire’s office, triggering the start of staged payments linked to construction milestones.

Payments are released against construction progress on a regulated schedule: typically 35% at foundation completion, 20% at roof watertight, 15% at partition walls, 15% at flooring and kitchen installation, and the final 15% at handover. For non-resident buyers financing with a French mortgage, the bank releases funds against the same milestones, so the cashflow impact on the buyer is staged rather than upfront. The entire process from reservation to keys in hand typically runs 18-30 months depending on the specific project phase.

The VEFA framework offers strong buyer protections: builder’s insurance covers defects for 10 years after handover, any deviations from the agreed specification must be formally approved through an avenant (amendment), and deposits are protected by regulated escrow. First-time VEFA buyers often benefit from professional support — our Domosno team walks British buyers through the full VEFA timeline and has been doing so since 2005. The new-build ski apartments guide covers the legal and financial framework in more detail.

Realistic net rental yields for Lumina apartments under professional management run 3-4% on a full-year rental basis, with two-bedroom and three-bedroom units at the upper end of that range because they match the dominant British family buyer profile. The yield assumption is based on approximately 16-20 rental weeks per year at an average nightly rate of €180-280 depending on seasonality, peak-week premiums of 50-100% above average for Christmas/New Year and French February holidays, and a standard 20-30% management commission.

Summer rental contribution is a meaningful component of Les Gets’ annual yield and should not be ignored in the investment maths. Les Gets is one of the French Alps’ strongest summer destinations, hosting UCI Mountain Biking World Cup events and offering an extensive lift-served bike park. Lumina apartments with heated boot-drying facilities and ski storage work equally well as bike-week rentals during June-September. Summer typically contributes 25-35% of annual rental income for well-managed Les Gets properties — a genuine year-round proposition rather than a winter-only story.

The total-return case for the Lumina combines the rental yield (3-4% net after management fees, ongoing charges and French tax under the LMNP regime) with expected capital appreciation of 2-4% per year on Les Gets new-build over the past decade. Applied to a €435,000 entry price with €72,000 VAT recovery, the effective total return in a typical year comfortably exceeds the cost of a 3.5-4.2% French non-resident mortgage, making leverage-positive ownership structurally attractive in 2026 interest-rate conditions.

The Lumina is a strong fit for buyers who want Les Gets ski-in/ski-out access and modern new-build specification but are price-conscious enough that a central-village position would stretch their budget. Families planning 3-5 weeks of personal use per year, with year-round rental between visits, are the prototypical profile — and for this buyer the combination of genuine lift access, the 20% VAT reclaim and the location-based discount produces a meaningfully better deal than central-village alternatives.

It’s probably not the right fit for buyers who absolutely want to walk out of their apartment into the main village bar scene at 10pm without a shuttle or a car — the 15-minute walk to the centre is pleasant but not trivial in ski boots after a long day, and the absence of immediate central-village atmosphere is a real trade-off. For these buyers, paying the 40-50% premium for central new-build is probably worth it, and we would guide them toward the Chavannes-adjacent developments instead.

The Lumina also works particularly well for first-time Alpine VEFA buyers. The developer is well-established, the building specification is transparent, the floorplans are straightforward, and the community of buyers at Les Perrières tends to be welcoming to newcomers navigating their first French property purchase. Experienced buyers with specific requirements (ultra-prime addresses, bespoke chalets, absolute central positioning) typically want something different, but for the broad majority of British family buyers looking for a first Alpine purchase in the Portes du Soleil, the Lumina is among the strongest live options in the current Les Gets market.

If the Lumina is on your shortlist, the sensible first step is a discovery conversation with our team to clarify which apartment size, floor and orientation would suit your use case. From there we arrange a viewing — which may be physical (visiting the construction site or the developer’s on-site show apartment once available) or virtual (detailed floorplans, 3D tours, neighbourhood walkthrough videos, and independent comparisons against central alternatives). For off-plan VEFA purchases, the virtual evaluation is often sufficient to reach a reservation decision, with a physical visit scheduled for the later construction phase.

Reservation requires a reservation contract and a refundable deposit of approximately 2-5% held in escrow. This locks in the specific apartment, the agreed price and the VEFA conditions, and protects you from the unit being sold to another buyer during the 2-3 months until the formal VEFA contract is signed at the notaire. If you decide not to proceed during the reservation period, the deposit is returned (subject to some specific contractual exceptions that we walk through in advance).

For buyers needing finance, a mortgage-in-principle from a French bank should be secured before reservation. Our team introduces qualified buyers to specialist non-resident mortgage brokers who can provide indicative offers within 1-2 weeks. The French mortgage page covers the typical 70-80% LTV, 3.4-4.2% fixed-rate profile for British buyers in 2026. Once the reservation contract is signed and finance is confirmed, the remaining process is handled by the notaire and the developer’s legal team through the staged VEFA payment schedule.