In certain areas of France which have typically been
relatively cheap places to buy property are rapidly
becoming too expensive for local French to make a purchase.
Les Landes for instance in the region of Aquitaine has seen
steep price increases over the last few years as foreign
buyers have relocated here or bought their holiday home.
Price increases of 20% a year on the value of property have
not been uncommon in this department and many other regions
of France have seen a similar trend. The French Riviera has
seen the price of certain villas nearly quadruple over the
last 10 years often owned by wealthy Brits, Scandinavians
and Germans, whilst in the Alpine village of Morzine the
majority of home owners are now English. One restaurant
owner at a popular and high quality restaurant in the area
recounted that 75% of his business now comes from the
English upon which he depends for the success of his
business.
Cheap flights, low Euro interest rates and a better quality
of life have been the main reasons for the interest in the
French property market and expensive house prices in
Britain have meant that many have sold up to get much
better value for money across the channel.
A market that previously was only available to the affluent
foreign purchaser is now, due to vastly improved transport
links, ease of credit and generally higher wages, also
available to those who previously would never have dreamed
of the exuberance of owning a weekend getaway in Normandy,
for instance. A plumber or electrician by trade 30 years
ago could never have afforded to buy in France but now
things are different and more and more Foreigners- British
especially are taking the plunge and setting down their
roots in one of many beautiful and tranquil corners of
France.
All of this means that house owners in many regions,
especially coastal, are seeing their properties soar in
value. This is all well and good for current house owners
but for local French buyers not as wealthy as the
foreigners it is pushing them to buy in the more rural,
cheaper areas, possibly further inland. Hence the trend of
people moving from the countryside into towns is now being
reversed as expensive property prices push them into more
rural locations. So in the next few years it is likely that
property prices will be increasing even in the areas which
are relatively quiet right now where good value property
can be bought.
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Written by Nick Dowlatshahi Managing Director of Leapfrog
Properties who are French Property agents that specialise
in Property for sale in France.
http://www.leapfrog-properties.com
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