Live the high life and invest in a ski chalet Nobody needs a second home abroad, so it is one of the first things they tighten up on during a crisis. They don't want to take on more debt. What's more, falling currencies have made some owners keener to sell up. If you took out a Swiss franc mortgage, your payments will have gone up as the pound has weakened. All of which means that there are bargains afoot for people interested in the second-hand market. "There are probably more sellers than buyers for resale property," explains Jeremy. This is largely because those buying for the first time in the Alps tend to want new-builds. They have a romantic idea that they will decide exactly what their property looks like, from the floors to the ceilings. New homes also come with all the hi-tech gizmos and gadgets, which a 30-year-old property might not have. France has long attracted the lion's share of British winter sport tourists, but there were fears that this might change, thanks to new president François Hollande's planned tax increases. For a cheaper option than the likes of St Moritz or Verbier, try Kranjska Gora in Slovenia Some buyers remain optimistic none the less. Nicholas Leach, from area specialists Athena Advisors, says that his firm has seen a 29 per cent increase in inquiries this year in the €160,000-€300,000 (£128,000-£240,000) bracket. "The French mortgage market is fluid at the moment," he adds. Even clients with enough cash to buy outright are opting to finance, to leverage the financed value against inflation. Rupert Meade, 60, a surveyor, has made the jump. He has just bought a one-bedroom studio flat in Chamonix, France, for €130,000 (£105,000). "We have been thinking about it for years," he explains. But we finally concluded that it was better than an annuity. From 25 weeks" rental a year, we expect to make a seven per cent return. The great thing about Chamonix is that it is as busy in the summer as in the winter, so we can rent for three months throughout the year, and can use it out of season. Over the border in Switzerland, things are more expensive. A new chalet on the slopes is hard to come by for less than 1.5 million Swiss francs (£996,000). For those with the money, however, a legal change looks likely to be good news. Earlier this year, the government narrowly passed a law stating that only 20 per cent of a town's properties can be second homes, which comes into effect in January 2013. "The days of wholesale buildings of chalets in Switzerland seem to be over, for the time being at least," Jeremy says. Anybody who owns a second home in Switzerland is likely to be looking at increasing value. "This is really the last chance to buy," agrees Simon Malster of ski specialists Investors in Property. We have a lot of clients who've been looking for three or four years and are realising that they have really got to make a move. As well as the second home ownership regulations, many new properties come with rules about rental obligation. You can live there as much as you like, but if your property is empty it must be available for rent. It is part of a drive to have more 'warm beds," rather than 'cold beds."" This has added advantages as properties are likely to be well set-up for rental. "Quite often they have swimming pools and cleaners," Simon explains. More and more of our clients are looking to rent their properties out. For buyers, it is the best of all worlds . You get a return which is more than just sticking it in the bank, and you also enjoy a great holiday destination for as much of the year as you like. Switzerland's usual obstacles remain: high prices and complex rules about property ownership which vary from canton to canton. But if you own a second home there, it is unlikely to lose its value. He also recommends looking just outside the bigger resorts to find the best deals. You might not be able to afford a second home in the Royal family favourites such as St Moritz or Val d'Isère , but there are often bargains around the corner. Verbier is incredibly expensive, for example, but just down the valley, in La Tzoumaz, Nendaz or Les Collons, you can find great properties, with the same skiing, for a fraction of the price. Farther east, Austria is another enticing prospect. The country barely noticed the recession. It has seen a gradual increase in British visitors to match its steady house price growth, and now accounts for 26 per cent of British winter sports visitors. Italy is a different matter, says Simon. The prices there compared with other countries didn't seem to stack up, even before the current economic crisis. Closing costs are high, often up to 10 per cent of the purchase price. I think you have to be really in love with Italy for it to make sense. Most of the Alps, however, are protected from the worst fluctuations of the market. Prices in key Alpine resorts don't shoot up, but neither do they plummet. The supply is very limited, so the market is steady. Luckily, there are plenty of options for more adventurous buyers. Tucked between Italy and Austria, Slovenia the joys of the Alps for a fraction of the price. A two-bedroom apartment, 15 minutes from the slopes, starts from just £35,000. For those looking for a bargain, Lake Bled in Slovenia has lots to offer (ALAMY) Alison Corlett and her husband, Russell, paid €250,000 (£200,000) for their two-bedroom apartment in Kranjska Gora. "We visited in the summer and decided on an impulse to buy it," she explains. It is a beautiful country, and has everything. There is wonderful skiing, and we are only six kilometres from Austria, eight kilometres from Italy and half an hour from Ljubljana Airport. Twenty minutes away is Lake Bled, which takes the breath away. The food and drink is much cheaper, too. People say to us 'you bought where? But when they see it, they understand. We're thrilled with it. Now that they don't want to ski 12 months a year, they are renting their mountain pad out (holidaylettings.co.uk/270760). Just down the coast, Montenegro also offers excellent skiing. As with all of former Yugoslavia, it is important to check that the vendor legally has the right to sell the property. If so, there are plenty of opportunities. Across the Atlantic, the United States is looking like a better investment than it has for years. The flight time might be longer than going to Europe, but the snow is more reliable, and everyone speaks English. After years of falling sales, property sales in the skiing hot spot of Utah are rising again. Other markets, such as Colorado and Vermont, continue to struggle. But with the economy kicking into life, and re-elected President Barack Obama promising "the best is yet to come," the US could be a great option for those who can cope with the jet-lag. A two-bedroom ski property in Pinebrook, Utah, is around $230,000 (£144,000) (bestskiproperty.com). The appeal of a mountain property is the same the world over: regular exercise, clear cool air in your lungs and hot glühwein to glug in front of the fire at the end of the day. Rather than sitting in misery as the British winter closes in, and watching your money slowly dwindle in the bank, why not head to the mountains for an investment, which will profit your well-being, as well as your wallet? Is it time to slope off? Will it work for a long weekend? Renting out your property will be easier if the property is less than an hour from an airport. Ideally half. How far to the slopes? You don't want to trudge for hours with skis and boots. "Ski-in, ski-out" apartments are easier. Summer lovin What does the resort have in the way of year-round activity? Hiking, climbing, biking and golf are all good lures. Snowfall If you want to ski at the fringes of the season, choose somewhere high, or where there is a glacier offering reliable conditions. Do the homework Each country has different, often complicated, property ownership rules. Make sure you know exactly what you are paying for. Ski area A mountain with enough slopes for a long weekend may not sustain your interest for weeks or months on end. Check there are other options. Free prize draw to win £1,000 towards your dream holiday Where is the best place to live? Nominate your favourite place to win £1,000 towards a visit to your dream location. To enter, simply go to telegraph.co.uk/bestplacestolive and add your suggestions to our world map. Closing date: December 30 2012. Terms and conditions apply.