House-hunters after a great deal in France should start their search in Limoges in the Limousin region, following the release of data showing it as the cheapest urban area in the country.
Article written by The Overseas Guides Company
The average price of a resale house in Limoges was just €142,000, around £119,000, during the third quarter of 2012, according to the most recent analysis by France’s official Notary association, Notaires de France.
This isn’t great news for owners trying to sell in Limoges, as the same analysis showed that average house prices fell by 10 per cent during the third quarter of 2012 compared to 2011. Only average house prices in south Corsica dropped by more, namely by 14.1 per cent to €270,000.
Limoges also offers good value for people who want something a bit smaller, as the average price for resale apartments was just €1,320 (£1,102) per square metre during the third quarter of 2012. While this is a five per cent year-on-year rise on the previous year, it still makes Limoges the third cheapest place to buy an apartment in France after Mulhouse and St-Etienne, based on the same analysis.
By contrast, the area showing the greatest hike in house prices during the third quarter of 2012 is Nîmes in the Languedoc-Roussillon. The average price there grew by 10.1 per cent year-on-year during the same period to €240,000 (£201,000).
Alexis Goldberg, author of the France Buying Guide and a resident of the Languedoc, commented: “I’m not surprised property in a district near me has risen in value so much. The Languedoc was always overshadowed by the Riviera and Provence to the east but in recent years, an increasing number of Brits have been attracted by its more affordable, down to earth lifestyle, landscape of rolling vineyards and of course the sunshine that lasts most of the year. I’m enjoying every minute of renovating a pretty village house here – in fact, I wouldn’t mind if I never finished it.”
For details of property all over France, visit the French listings on Rightmove Overseas. One way to save money when buying in France, or moving there, is to use a currency exchange specialist when transferring your pounds into euros. For more information on this, visit the Currency Zone or contact Smart Currency Exchange.
To understand the full step-by-step process to buying a property in France, collect The Overseas Guides Company’s ‘France Property Buying Guide’
The views and comments herein are those of the author and do not necessarily reflect the views or opinions of Rightmove Overseas, Rightmove Group Ltd or Rightmove Plc