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SG Renewed interest in France homes

Property Here - Tuesday, March 26, 2013

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By Andrew Batt:

The onset of spring has seen renewed interest in property investments in France, with international buyers reappearing and looking for bargains.

Trevor Leggett, Chief Executive of French estate agency Leggett Immobilier, said: "Our agents are reporting increased activity right across France. The penny (or centime) seems to have finally dropped that homeowners and agents should price sensibly and we are seeing some terrific bargains being snapped up by clients.”

“We have seen a 31 percent growth in sales over this time last year and our call centre team is reporting an increase in viewings booked in the run up to Easter. Perhaps the fact that the weather in the United Kingdom has been so poor this winter has also added to the increase in demand from British buyers who have brought forward their plans to find a dream home in the sun.”

Last week’s annual budget statement in the United Kingdom is also likely to indirectly help stimulate demand, according to Leggett.

“The UK media dubbed it as the "budget for homeowners" with a range of measures announced under the help-to-buy scheme aimed at stimulating the housing market. The government is supporting £130 billion of mortgages over three years and if confidence returns to the UK market then this spills over into overseas holiday homes too.”

“Many purchasers are looking for a mixture of lifestyle and investment returns and we think that France is ideally placed to profit. It's clear that bargains are to be had across all price ranges at the moment but my personal view is that it's the top end that has most to offer, anything over €600,000 will have to be priced keenly to sell.”

One example on offer from Leggett’s company – Leggett Prestige – is a wine estate with a farmhouse and two gites bordering the Canal du Midi (pictured). On the market for €2.3 million, the estate totals 72 hectares with 32 hectares being dedicated to a vineyard.

Leggett said: “The houses have been beautifully restored and this is a fabulous opportunity for someone who is looking to generate an income.”

 

Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@allproperty.com.sg