Where to Find Cheap France Property

Country:  France

Our Gallic neighbour hasn’t completely escaped the credit crunch, but the market for French property does remain robust. This is largely due to modest borrowing levels in France, with very few native homeowners even having mortgages.

Trisha Mason, managing director of French property agent VEF, says: “Overall there has been a reduction in prices of houses in France of only three to five per cent, with the south of France still showing gains.” She adds that, despite a lull in 2008, interest from British buyers has picked up again this year.

Some experts are mooting how the current state of sterling could put some buyers off; at the time of going to press, the pound is just 93 pence against the euro. But Chris Bishop, from French property agent Latitudes, believes that now is actually a good time to buy property in France while the euro is strong. He explains: “There are opportunities out there to buy properties in France at good discounts, especially if you buy from an English vendor, as they are trying to capitalise on the strength of the euro.”

Moneycorp, the foreign exchange specialist, reports that enquiries about France from prospective British buyers actually rose by more than 34 per cent during 2008. Moneycorp’s Marc Morley-Freer explains: “France has always enjoyed attention from British investors. At the moment, with stability in the French property market and the volatility of the British economy, property in France is seen as an increasingly attractive investment option.”

While French property hasn’t been reduced to bargain basement prices, France property generally remains well under UK averages, with plenty to choose from within a budget of €150,000 (£140,031). The bargains tend, predictably, to be inland, with a few exceptions. There are the usual run-down farmhouses in need of TLC, through to fully restored stone cottages and farmhouses. A rising number of new properties are being built too, encouraged by President Sarkozy who is keen to make La France a nation of homeowners.

Property in Brittany and Normandy

Brittany property and Normandy property continue to offer great value, with renovation projects available from around €25,000 (£23,338) and well-restored stone cottages from around €100,000 (£93,354). For example, a 17th-century, two-bedroom stone house with a sizeable patch of land is on the market with Latitudes for €88,000 (£82,151). It is in need of renovation, but it is well located, being near the sea, and includes an attic which could be converted into two more bedrooms.

Property in Limousin

In central France, there’s a good range of reasonably priced Limousin property, although expect to pay more per square metre. Properties needing work are on the market from around €50,000 (£46,677) while a habitable farmhouse may use up most of your €150,000 budget.

Property in Poitou-Charentes

Heading south, there are some good deals to be had on Poitou-Charentes property, where a four-bedroom detached home will come in well under budget. There is also a multitude of new homes here, many offering leaseback and guaranteed rental returns. But perhaps the best example of a traditional, character home in this region is a two-bedroom, two-bathroom cottage in the grounds of a 15th-century chateau in Charentes. With superb views of the chateau and a lake, the property has an attached barn and – get this – a second property to renovate. All for the very modest price of €142,000 (£132,563) with VEF.

Property in Aquitaine

In south westerly, stay away from Aquitaine property on the coast as they tend to be pricey; instead, look at North Dordogne where some careful research will bring good results. For example, a well-restored, two/three-bedroom cottage in the village of Abjat is on the market with Leggett Immobilier for €141,700 (£132,283). It would make a great lock-up-and-leave holiday home. A private terrace makes up for the lack of garden, and there is a garage, accessed from the house.

Property in Midi-Pyrenees

Expect to pay over €100,000 (£93,354) for a well-presented, small Midi-Pyrenees property, although there is a surfeit of renovation properties available, many of which have gites. On the market with VEF is a two-bedroom stone property in Tarn-et-Garonne department. Close to a famous chateau, the property is surrounded by its own land and is very private, although it is in need of full restoration and the asking price is €150,000 (£140,031).

Property in Savoie

Finally, there are some surprisingly affordable ski pads in the French Alps, many of which are brand new to meet huge demand. MGM French Property has on its books several ski properties offering leaseback schemes. Le Coeur d’Or offers ski properties in Bourg Saint Maurice, which is the terminal for the Eurostar ski train from London St Pancras. Situated below Les Arcs 1600 resort, the development offers access to the slopes via a funicular train from the town. A one-bedroom apartment here costs upwards of €122,000 (£113,892).

A word of advice when putting in an offer on a property in France: respect the vendor’s asking price. Mary Hawkins from agent Leggett Immobilier warns: “The press have indicated that buyers should offer 30 per cent under the asking price. This is not the case; most vendors will not accept this as properties are realistically priced.”

Under the current climate, you’d be forgiven for feeling wary of turning your cash into bricks and mortar, even in an ‘old favourite’ country with a healthy property market, continued demand, a strong currency and a vast range of affordable properties. But Latitudes’ Chris Bishop offers these final reassuring words: “If you are in a position to buy France property now, either as a cash buyer or by taking a mortgage in France, then I believe you will do extremely well in terms of price and the choice of France properties available to you.”

Bonne chance!

First published in Homes Overseas Magazine March 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.

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Some properties in France

	Ref 360818, Centre, 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

	Ref 2690886, Languedoc-Rousillon, Herault, France
	Price: £23,013 Type: House
	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
	View details | Enquire further

	Ref 314575, Centre, France
	Price: £23,317 Type: House
	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.
	View details | Enquire further

	Ref 3046103, Midi Pyrenees, Gers, France
	Price: £28,766 Type: House
	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.
	View details | Enquire further

	Ref 322516, Centre, France
	Price: £32,136 Type: House
	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.
	View details | Enquire further

	Ref 314599, Centre, France
	Price: £33,862 Type: House
	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.
	View details | Enquire further

	Ref 314523, Centre, France
	Price: £36,081 Type: House
	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.
	View details | Enquire further

	Ref 314564, Centre, France
	Price: £36,163 Type: House 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.
	View details | Enquire further

	Ref 353655, Languedoc-Rousillon, Herault, France
	Price: £37,807 Type: House 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.
	View details | Enquire further

	Ref 314609, Centre, France
	Price: £40,437 Type: House Bedrooms: 2
	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.
	View details | Enquire further

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