Exactly what's been occurring just recently?
Things have actually certainly changed over the last 3-4 weeks and it appears that now may be the right time to buy a property in France.
Activity levels have actually gotten relatively sharply both in terms of questions and client check outs. What's intriguing is that this has actually likewise filtered down into offers and sales.
I've simply looked through my statistics and can tell you that in the last 5 weeks I've had 9 sets of clients over from the UK and Ireland. This might indicate nothing to you however when I tell you that out of those 9 sets of customers, 8 have made offers on properties you can see why I'm feeling optimistic.
I worked for 13 years as a main London Estate Agent and I can tell you that even there those conversion rates are fantastically high.
Why is this?
This naturally is the multi million pound question and I don't claim to be a financial expert but I can tell you this.
The word on the street in the UK is that things have actually improved in many sectors. I have buddies operating in Estate Agency in main London who tell me that the last 4 weeks have revealed a big enhancement and they are typically extremely hectic. One good friend simply posted his end of month figures for May which showed a very decent number, even for a regular market.
So people are feeling more positive in the UK. France is the exact same, although it didn't seem to strike here quite as terribly anyhow but that's another story.
I have actually been banging on at sellers for what seems to be ages and ages to get reasonable with their costs over here and it seems as though individuals are now beginning to get up to truth. Other representatives here are following suit so now I'm not the only one "Preaching the gospel".
Sure, there's still a lot of rubbish out there however more and more excellent properties are coming on to the market at reasonable prices and more and more of these are selling. Purchasers searching for to be delighted by property.
What are people buying?
I suppose it's the same old mantra here actually. Quality, location and character.
A quality property doesn't have to be something that's been done up to the nines, it may need everything doing to it however still be a "Good" property.
The greatest need we have is for properties in quite towns with a bit of life and a little commerce within a brief drive of a correct town such as Pezenas. Pezenas works effectively as it's type of in the middle of everything.
Within 20-30 minutes of the beach
Within an hours drive of 5 airports
Within 30 minutes drive of the hills
It's got the best weather condition in this part of France
Montpellier is around 35 minutes away
Beziers is 20 minutes away
You can drive to the ski slopes of the Pyrenees in under 3 hours
You can drive to the Alpes in 5 hours
It's simple to see why this part of the Languedoc is so popular.
Character properties have actually constantly been a preferred here as this part of France is soaked in history and us Brits like nothing much better than a good bit of stone, brick and wood with a couple of stories behind it.
I would say that 75 % of my purchasers are looking for an old stone property with wooden beams and the character of the old Mediterranean. This type of house with a garden is pretty hard to discover so probably around 50 % of purchasers end up going for something different in order to purchase into the whole private swimming pool thing. Let's be honest, going to the beach is fab however there's something rather unique about having your very own swimming pool.
What else is selling?
The other kinds of properties that are succeeding are a select group of high quality advancements that are being constructed and/or planned at the moment.
The Domaine de Lavagnac provides a sensational combination of 18 hole golf course and 400 year old Chateau set among 192 hectares of unaffected woodlands and vineyards. A guaranteed return of 7 % for the very first lot of reservations, however rush as the 7 % deal is a minimal offer.For information about buying property in france click on real estate south of france.
Another amazing development that is attracting a great deal of interest is the Chateau les Carrasses project near Beziers. This lovely old Chateau with it's on site winery is being transformed into 28 high end units ranging from 1 bed apartment or condos to family sized houses with personal swimming pools. It's a different concept to the Lavagnac leaseback option and is being purchased for various factors however again it's a high end advancement that has taken an excellent number of reservation deposits in its opening weeks.
Where is the market going to go now?
If I might address this I would be writing this newsletter from a yacht in the Caribbean instead of my office in Pezenas. I can tell you that I don't believe rates are about to begin increasing anytime quickly however it does look as though they've stopped going down.
It seams as though the smart money is starting to invest once more which's constantly an excellent indication. Normally speaking, somebody doesn't have 500,000 sitting in a savings account in cash unless they've made a few sensible employ their time.
Is it the best time to buy? My recommendations are to jump on an airplane and grab a good offer prior to someone else does.
Inquiries are always welcome. Call us now!
Geraldine A. Luna
513 Camden Place
Marlboro, NY 12542