Author: The ESREA France Team

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Which French Real Estate is the Most Popular?

French real estate continues to attract the eyes of people all around the world, many people living outside of France dream of living by the big blue sea in Nice or Cannes or in an apartment overlooking the roof tops in Paris.

Did you every wonder what the local French people dream of?

According to a new report to be published by Explorimmo and cited today in Le Figaro, 76 percent of French people wish to live in the countryside. Only 22 percent would like to live in the highly populated areas such as  Île-de-France.

Worth noting: according to the report the desire to live in the countryside is mostly among young French people aged 18 to 24 and French people reaching retirement age ( 50 years or older).

It appears that one of the motivations to live in the countryside is the reduced cost of living compared to living in more densely populated French cities.

However, given the option to live anywhere in France (without an financial concerns) still 70 percent of the French, according to the study, would prefer to live in an area with a population of less than 20 000 people.

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Why do Foreign Billionaires invest in France? Ask Prince Abdullah al-Thani

French real estate is not selling very quickly right now even in the sought after areas like the French Riviera and Paris. This is what we hear all the time in the media.

However, yesterday evening on the TV station M6 show Capital presented an investigative inquiry on French real estate . One feature of the inquiry was Prince Abdullah al-Thani, one of the richest men on the planet who purchased in 2007 the hotel Lambert in Paris for 60 million Euros. This historical hotel is undergoing an 80 million euro restoration.

Below is a video of the fire that happened in the Hotel Lambert in 2013.

When asked why Prince Abdullah al-Thani is investing his personal wealth in France including a new purchase of another historical building and large area of land in Normandy, he stated (we paraphrase) “The prices are very good right now in France, the market is down so it is an ideal time to invest”

Apparently in recent times, according to CAPITAL, Qatar Investment Authority has invested approximately 15 billion euros in French real estate.

It is interesting how foreigners with large amounts of money see great opportunity in France right now, however, locals and some foreigners are hesitating waiting for a market with already low negotiable prices and low interest rates to decend more.

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Why is the volume of French real estate sales higher than expected?

In general, the experts in real estate in France see again a slight drop in the value of French real estate prices in 2014. But the price drop on average is less than anticipated. The question in the minds of many people is why.

The answer according to Credit Foncier is because interest rates remain low. If the interest rates increase the cost of purchasing a French property goes up substantially and without a bigger drop in prices the market may stall more.

Low interest rates are keeping buyers in the market place. These buyers are seeking out the best and most desirable French properties and taking advantage of investing with the low interest rates.

Read Credit Foncier article in French here

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How to Buy the Right French Property for You Today 4 Important Guidelines

Buying a Property in France like in many countries can be stressful and even more stressful if you don’t speak the local language. So it is important you have clarity of mind in the steps you take to find the right French property for you.

Among the many tips we have on this site here is 4 ones to review

Never Be Rushed
When you find a French property advertised and you set a time to visit make sure you check out the neighbourhood. Are schools near by? Shops near by? Easy access to major roads? Is there a train near by?
When you visit the property take your time to check the condition of all the property inside and out and visit it several times to make sure all is acceptable. Ask an agent about important documents youa also need to review.

If a Renovation is Needed get Professional Advice
In general buyers tend to either over estimate or underestimate the cost of renovations. It is best to bring a long a professional contractor to help you get an idea of what the cost of the renovation will be even if you will do the work yourself. An estimate is better than an error.

Get Your Financing in Order
Before you start shopping make sure you have spoken to your bank and done a complete analysis of what you can afford to buy so you know what is financially possible and not stressful for you.

Look to the Future
When you buy a French property as your first or second residence you need to consider the future. Will you always have the job you need to pay for the property? Do you have children and will your housing needs change? Do you have work that will require you to move in the future?
You need to consider beyond the present moment to know if the purchase is right for you.

A professional English speaking French real estate agent will also offer you many more valuable guidelines on what you need to consider when buying a property in France. Connect with an English speaking French real estate professional in your area of choice. Contact us here.

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Wind Turbines Devalue Property Will this Happen in France

According to a new study reported in the Daily Mail, wind turbines can reduce the value of your real estate property up to 11 percent if you are living within in 2 km of the wind turbine.

The study was based on the sale prices of more than one million properties over the last 12 years.

The study also found that even a small wind farm can impact the value of a real estate property. If you have a property in view of a wind farm the price can drop 7 percent.

The study focused on 150 different wind farms in England and Wales and creates the question as to whether the increase in wind farms in France will have a similar effect on French real estate property prices.

Read the original article here

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Note: Details on our 110 Tip electronic French real estate buyer’s guide plus checklists is here.

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