Buyer’s market for French property mortgages
Economic uncertainty in the UK is making the more stable housing market in France a more attractive option for investors and other buyers looking at French property mortgages.
It is widely considered to currently be a buyer’s market in France, with the present situation favouring purchasers over sellers.
Prices are expected to rise again after about six months into 2009 with great deals likely to disappear from the market because sellers expect to not have to negotiate at lower price levels.
French mortgages in a buyer’s market
Securing a French mortgage in Brittany is now understood to range from as little as 50,000 euros for habitable properties in small villages to just over 160,000 euros for better quality, average-priced houses.
The cheapest location in France is Limousin with house prices averaging about 92,000 euros. Two-bed homes in the department of Creuse are available at less than 70,000 euros.
For Brits who love the sun, as well as the French lifestyle, food and wine, the Languedoc region is home to two-bed properties averaging about 158,000 euros. In the Aude, Herault and Gard departments, prices vary from about 210,000 euros to 232,000 euros.
Normandy has been a traditional destination for UK property buyers. The average house is now less than 157,000 euros. Meanwhile, Dordogne region prices are averaging about 150,000 euros with many owners deciding to accept much lower offers than in the past.
How to weigh up French property mortgage options
Overall, predictions are for French property prices to fall five to ten per cent this year. France is said to offer a ‘protective purchasing system’ with low capital gains tax.
0800 970 0985