Clouds, silver linings etc

Like most of the rest of Europe, the French property market has had a torrid time over the last couple of years. ‘Lies, damn lies & statistics’ just about sums up the supposed property inflation figures thrown around in the media.

The reality is that there’s still an imbalance between the numbers of those happy to prise open their wallets and invest in a house and owners who are waiting patiently for a serious buyer.

The actual volume of properties coming to the market is pretty similar to the heady days of 2001 / 2003 - it’s the average length of time they stay on it that’s made the difference. That said, if it’s the right type of thing – cutesy, stone, beautifully restored and correctly priced – it’ll go quickly, often for the full amount. In what’s turned out to be a very good year for us, we’ve recently had a few of these, but this isn’t reflective of the market in general.  And savvy vendors know that they have to present their homes as best as they can, because it’s a true buyers market.

Anyone house hunting on this side of the Channel can get their hands on some pretty cheap money too  – assuming you’ve got a decently paid job and can find the 20% or so you’ll need for the deposit, variable rate mortgages are readily available at less than 4%, with 7 year loans fixed at a little over 5%. As the Intermarche radio ads say, c’est la vie moins cher.

A great example of the extraordinary value for money that’s out there is our current ‘Property of the Week’. At a fixed price of €499 000, this immaculately restored Maison de Maitre – our reference No. 197 – is set in the heart of the countryside and just  10 minutes drive from a beautiful hilltop bastide.
In short, and despite the Euro defying gravity, it’s the best time in the last decade to buy your new home in France. Please form an orderly queue.