Trevor Leggett talks to us about the property market and the buying process in France and offers six properties to suit any budget
It’s clear that France has ridden the economic downturn as well as any of the EU countries. When this is allied to the fact that the country boasts a historically robust property market we can see why France is so popular with Rightmove users.
Leggett Immobilier has been trading in France for over two decades now. During this time I have seen our business grow from a small office to the biggest international player in the market. We have representatives in 58 departments marketing a portfolio of over 5,000 properties, ranging from dilapidated ruins which are ripe for renovation, all the way through to some of the most prestigious chateaux and luxurious villas that France has to offer.
I will highlight some of these properties in a moment but, before doing so, would just like to explain a little about buying property in France (and why we think we’re better placed to help you than any other estate agent).
The first thing to say is that, when making any sizeable investment, you need to work with a team that you can trust. It’s not just the language that is different on this side of the channel – although I learnt from the start that it pays to employ both French and English personnel who understand some of the more subtle nuances. We also have people who can speak Dutch, Italian, German, Russian and other languages.
The Notaire plays a major role in any property purchase over here. He acts on behalf of the state (not for either party) and his role is to ensure that the sale proceeds legally. We have worked with over 2,000 different Notaires throughout France and the efficiency and speed at which they operate can vary greatly.
Once you have found your dream home, and have negotiated a suitable price, then the buyer must show you the results of some compulsory tests, known as the Dossier de Diagnostic Technique. These can include tests for asbestos, lead, termites, drainage, gas and energy efficiency of the house.
These reports will form part of the written contract you will then be asked to sign, known as the Compromis de Vente. If you buy or sell through Leggett Immobilier then translation of all documents comes as standard.
Once you have exchanged contracts then you are given a seven day “cooling off” period after which you can pull out of the purchase at any stage without penalty. After this time the contract is binding and you can only pull out if you have had a clause written into the contract.
The Notaire will then do all of the searches and within 2-3 months you could be picking up the keys.
Many people are predicting a single digit increase in French house prices over the coming year as the last quarter of 2010 showed a return to house price growth. This means that, in our opinion, now is an excellent time to take the plunge and to turn that long held dream into reality.
We are already making appointments for UK visitors during half term as Spring is a popular time for both buyers and sellers.
You will find that our agents are available to undertake viewings seven days a week. You’ll also see that they live & work in their area and have an unrivalled knowledge of both property issues (average prices, what are available, planned TGV routes) and general issues (local schooling, healthcare, where the best markets are, sporting activities).
Enough of the buying process though…what does your money get?
Well, with an average price across the country (excluding Paris) of just €185,700 you can see that it doesn’t break the bank to afford something special.
Listed below are six houses we are currently marketing with Rightmove – they cover a range of prices as well as different regions. Don’t forget though that you can see all 5,000+ listings at www.frenchestateagents.com
Under €100,000
How about this beautifully renovated stone house in a quiet Limousin hamlet for €87,200? This region is popular with buyers from the UK as it is unspoilt and offers excellent value for money. The house is north of Limoges and has been entirely renovated so you don’t need to worry about racking up extra costs. With a garden of 1,200m2 there’s plenty of room for a pool and a kickabout too.
Between €200-300,000
Another property that is well placed for the airport at Limoges is this spectacular Maison de Maitre. On the market for €256,800 it has 12 bedrooms and would make a fantastic B&B. The renovations need to be finished, although it is habitable, what a great way to earn a living while enjoying the French way of life.
Between €300-500,000
Let’s move over to the Alps now and this super chalet with views out over the mountains of La Plagne and Les Arcs. For just €491,150 you could buy this four bed/two bath chalet with sunny terrace and access to what are possibly the best ski slopes in the world. The chalet has a whopping 180m2 of living space spread over three floors and it’s in good condition so you can hit the slopes running (so to speak).
Between €500-750,000
You can buy a slice of history in the south of France for €689,000 and earn an immediate income from it too. This eleven bedroom house dates back to the 17th century and comes with three gites. Fully renovated in 2007 the house is a Maison de Maitre with the spectacular original staircase still intact. The three apartments sleep a further 16 guests offering an opportunity for both long term and short term rentals.
Between €750,000- €1m
The atlantic coast offers spectacular scenery, wonderful beaches and what many consider the best golf courses in France. This superb five bed watermill is close to the ocean and several of these golf courses yet it costs the same as a two bed apartment in some complexes on the crowded Algarve or Costa del Sol. At €954,000 you have the choice to continue trading as a guest house or simply to buy it as a fantastic holiday home.
€1m+
I wasn’t sure where to begin as we have many prestige properties that take the breath away. But then I remembered this beauty in the historical town of Carcassonne. We are asking €2,120,000 for this magnificent 19th century castle with gite and outbuildings – what you are really buying is three things though….location, location, location.
Trevor Leggett is chief executive of Leggett Immobilier Tel 08700 11 51 51 www.frenchestateagents.com