After a few static years, French property prices are now rising in popular areas, or stopping their rates of decline. But many regions have some way to go to their pre-crisis peak. So now is a great time to buy.
You may have read about the big price rises in cities such as Paris or Bordeaux, yet, as ever, the regional picture is very different. Prices nationally in France have risen by 3 per cent over the past 12 months, and it is likely that these locations are a couple of years ahead of other markets, where we are likely to see a ripple-effect. House prices in the countryside dropped dramatically after the “crise financiere” (global downturn) hit in 2008 and only began stabilising last year. Countryside property therefore represents terrific value for money and international buyers are now adding to the already high demand from domestic buyers for rural French property. So what are prices doing in the popular departments for British buyers?
Some figures from the French property website SeLoger provide some clues: Dordogne – average €1, 400 per m2 and have fallen 3% over the last 12 months, whilst Charente – (€1,113 per m2) dropped 2% over the same period. A larger drop was evident in the Languedoc – the pricier Herault (€2,614 per m2) fell by 8% over the last 12 months. And the risers? The Alpes Maritimes and also Brittany’s Morbihan – (both up by 1.5%); and the Haute Savoie really is our peak performer with a rise of 2.5%.
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Property ref: 91371RAB34