Whistler, in the Canadian Rockies is a favoured resort among skiers. Now, the Humber Valley Resort has just opened in Newfoundland, on the east coast. Smart wooden chalets in Humber Valley start at £275,000 for a three-bed and rise to £785,000 for a five-bed home.

Those who invested during the first phase of the 312 chalets, at the beginning of 2003 have almost doubled their money. An astonishing 87% of buyers have been British and Irish investors who have found the low prices and competitive exchange rate attractive.

A rental pool exists, allowing Humber Valley owners, to use their chalet for six weeks of the year, while the resort will let the property out during the rest of the year. Rental income then goes to a central fund that is divided 70:30 between landlords and the resort. The 70% is then split between the owners, according to the size of their chalet, amenities and location.

Because Humber Valley offers summer and winter sporting activities, there is the potential for year-round rental income.