Country: France; France; Provence; Provence Alpes Cote d'Azur
The global credit crunch has had less of an impact on France, compared to the UK, Germany and Spain. Knight Frank reported in its most recent Global House Price Index that prices of France property increased by 3.2 per cent between Q3 07 and Q3 08. This is slower growth than the previous year though, when prices increased by 6.8 per cent.
Properties along the Mediterranean coast in southern France have been in demand from foreign buyers for centuries and if proof were needed that things have not changed, the World's most expensive property, including 20 acres of gardens, was bought on the Cote d’Azur, near Cap Ferrat, in August this year for €500 million!
Unless you are a Russian billionaire, this may be a couple of million over your budget, but there are still some great deals to be had in the South of France, especially in the eastern part of the coast, including the cities of Cannes, Nice and Marseille.
This area, known as ‘Provence-Alpes-Cote d’Azur’ (PACA) is one of the most densely populated areas of France with 4.8 million people. Of the three cities, Marseille is the largest with a population of over 800,000 but there are an extra 1 million inhabitants if you include the suburbs.
The region is home to many technological industries and also attracts over 34 million tourists a year. According to the Comite Regional de Tourisme, almost 7 million passengers fly into Marseille each year and over 10 million fly into Nice, which was one of the first destinations to benefit from the arrival of budget airlines. The entire region is also well served by the French high-speed rail network, which explains why 80 per cent of tourists are French, and fast trains from Paris to Nice will start in 2010.
From the three main cities, the highest rental yields can be achieved from property in Marseille, according to the latest figures available from the French National Estate Agents Federation (FNAIM), where average prices are around £2,400 per square metre and yields 5 per cent. This compares favourably to property in Nice (£3,200 and 4.2 per cent) and property in Cannes (£3,700 and 3.75 per cent).
UK buyers can still get 85 per cent LTV mortgages and both euro interest/mortgage rates and the value of the euro, are expected to fall during 2009, which would make property in these popular cities seem even cheaper over the next six to12 months.
First published in February 2009.Some information contained within this article may have changed since it was first published. Homes Overseas strongly advises you to seek current legal and financial advise from a qualified professional.
See Also: France
Price: £18,903
Type: House
15 min in the South of La Chatre, this country house is with retaured. It is composed of 2 rooms, lime pit foot, with beams, stone slabs on the ground and chimney. Suitable attic above. The walls and roof are in good condition.
View details | Enquire further
Price: £23,013
In a hamlet at 2 minutes from Lamalou-les-Bains, stone house to renovate on a 100 m2 plot with view. In a hamlet at 2 minutes from Lamalou-les-Bains, stone house to renovate on a 100 m2 plot with view. Possibility to create 90 m2 of liv
Price: £23,317
10 min of La Chatre, this building, which is to be restored, offers a beautiful potential of installation to you. It is currently composed of a room, barn, stable and attic above. Courtyard in front.
Price: £28,766
This plot of constructible land with expansive views of the countryside, of a surface area of 2,100 m2, has planning permission for the construction of a detached house. It is 5 mins of a small town with amenities.
Price: £32,136
Between La Chatre and Aigurande, this charming country house is composed of a room in down stairs with chimney, wall cupboard in side, beams and stones apparents. Suitable attic above. Water is served and electricity is in the vicinity.
Price: £33,862
10 min of La Chatre, this country house needs to be restored. Livingroom with insert and visible beams, other room and boxroom. Suitable attic. Old barn and old house with a room. Well. The whole on 3120 m.
Price: £36,081
Area of Ste Severe, this barn which is to be rehabilitated offer of beautiful possibilities of installation. A room with existing chimney. Contiguous hangar and garage, hen house.
Price: £36,163
Bedrooms: 1
This beautiful country house, which is to be restored, offers to you a sublime view on the countryside berrichonne. It is composed of 2 parts. The barn with porteau, as well as the stables contiguous to the house, can allow a very big enlarging.
Price: £37,807
Bedrooms: 2
Village house to refresh/modernise, well located in the heart of the village and offering about 45 m² of living space including 2 bedrooms. It also offers a small terrace of 4 m² with nice views.
Price: £40,437
In the area of Ste Svre, this country house is to be restored. ithas : kitchen, dining room, 2 bedrooms. Convertable attic. Storeroom in lean to. Out building with baker s oven. On 5696 m of ground.
Prices from: €179,000
Domaine de Cramphore: 400m from 9km of sandy beach. Near to golf, tennis, horse riding and water sports.
Prices from: €232,000
Bedrooms: 2, 3 & 4
Apartments & townhouses on Severiano Ballesteros designed Pont Royal Golf Course between Aix-en-Provence & Avignon.
Prices from: €156,000
Bedrooms: 1, 2, 3, 4
Cohennoz: Great year round location. Mountain lifestyle, easy access to one of the best Alpine skiing areas.
Price: €795,000
3 Beds. 1 bath, 1 shower
Exquisitely restored. 13 ha of private grounds. Sweeping lawns edged by woodland. Children’s play area, heated pool.
