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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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Would you buy 3 French Castles or 3 New York City Apartments?

If you think French real estate is expensive check out the 3 French Castles in this article that are less than the price of a 3 New York City apartments.

Comparing to New York Real Estate the French properties look very cheap, imagine you get to say to your friends, “I sold my apartment in NYC and I bought a castle in France.”

Special thanks to one of our readers Frances who sent us the post.

Here is the link to the Photo Article

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French Notaries Report February 2014 French Property Price Changes

French Notaries delivered their report on the complete French real estate market conditions for 2013 last week.

The French Notary’s makes several important observations:

One
Prices of old as against new French dwellings decreased 1.4 percent overall on a national level.

Two
Sharp corrections did not take place in cities with over 150 000 inhabitants

Three
There were 723 000 real estate transactions registered in France in 2013 that is more than 2012 where there was a total of 704 000 French real estate transaction but still considerably lower than the record of 829 000 in 2005.

Four
The Notaries state that the majority of the sales where of low priced properties.

Five
The increase in sales is said to have been stimulated by the historically low French property interest rates.

Six
Among a lot of comparisons of data the Notaries show the difference in cost of properties between areas. For example a 2 bedroom apartment in Cannes on the French Riviera cost the same price as a 5 bedroom house in Toulouse.

Seven
The Notaries do not see a collapse in prices, some see a stable market, others see a slow decline in prices.

Eight
Buyers continue to buy cautiously and are not willing to pay any price for a French property.

Read original article in French here

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