Wednesday, 08 July 2015 14:37

Time to take the leap!!

Written by  Rachael Gill
.
Every week we are asked if we think this is the right time to buy a property in France and for 2015 the answer is a resounding YES.

Well we would say that wouldn’t we? So without going too CSI let’s look at the evidence.

The Notaries de France, party to every property transaction in France, have published their 2014 property market review. Largely agreeing with the earlier review from the FNAIM, the Association of French Estate Agents, the general finding was that average houses prices have now fallen for three successive years and in many departments prices are cheaper now than they were in 2006.


House Prices 2014

Department

2014-Average Price

2013-Average Change

2014-Average Change

Dordogne

€115,000

-2.0%

-2.9%

Correze

€108,000

-7.4%

-1.4%

Haute-Vienne

€116,000

-7.2%

-1.3%


We do need to take this with a pinch of salt as the figures are largely based on analysis of transactions in the urban centres of each department and most of our buyers are interested in rural properties but it does highlight that we are very much in a buyer’s market at the moment – music to the ears of anyone looking to stretch their pounds further!

The Notaires reported that parts of the Limousin continue to be the cheapest areas in France to buy a house but even the ever popular Dordogne has been significantly affected. It is true that not all properties have been impacted but with considerably reduced demand for rural second homes from both international buyers and French nationals many sellers have had to make some significant concessions.

So are we saying French property is a bad risk – NO - quite the opposite? Throughout 2015 we have seen a steady increase in enquiries from international buyers and we are not alone; the Notaires have also reported signs of an improvement in the market in 2015. In May they reported that although sales in the spring were down on last year’s totals the fall in prices had stopped and in fact older properties had risen 0.3%. They described the market as “active” and we agree!

So it’s the right time to buy just because the market’s bottomed out? Well that a good reason but it’s not the only reason …

The strong exchange rate means your pounds are going an awful lot further than they did even this time last year with exchange rates the best that we have seen for several years. For those of us who were here when the euro / pound exchange almost hit parity the current 1.40 is an opportunity not to be missed.

So you have the product at the cheapest it’s been for years and purchasing power you haven’t had for a long time – and just in case that wasn’t enough, for those of you considering a mortgage to finance your purchase, rates are still very low and will hopefully remain stable for some time to come.

We are constantly updating the properties on our site and adding new ones to our portfolio, within the Dordogne, Correze and Haute Vienne – if you can’t see what you are looking for then feel free to contact us with your criteria and we will be happy to suggest some houses that might be just what you are looking for.

See our current properties at www.perigordproperty.co.uk/our-properties
Read 2212 times