More realistically priced properties are now coming onto the market, according to the latest research received by the National Association of Estate Agents International.
The findings revealed a dramatic fall in house prices by 18-31% since the peak of the market. British buyers are beginning to increase in numbers as significant savings are being made in key regions across the country. In Normandy for instance, the selling price for a village house has been slashed from €65,000 to €38,000- a reduction of 42%. Whilst in Dordogne, a two-storey, four bedroom property has been reduced from €140,000 to €98,000- a discount of 30%.
Penny Zoldan, French expert and member of NAEA International comments: “In certain areas of France we’ve been seeing significant price cuts due to the “bottoming out” of the market. There are some excellent opportunities that won't last forever, so people should buy now rather than miss out. With interest rates as they are, why would you want to keep your money in the bank with hardly any interest accruing?” Yet people should not rush into buying the first bargain they see without a good understanding of the country’s legal system.
Des Rowson, international sales expert and committee member at NAEA International adds: “Always use a registered agent from a relevant trade organisation that knows the area you are looking to buy in well. Always check that they have professional indemnity insurance and there is a bank guarantee on monies paid for new properties. By choosing a NAEA International member you can be sure you are dealing with an experienced and professional agent who is able to assist you with any questions, information or advice you might require. All agents operate under strict rules of conduct so you can be sure you are in safe hands from start to finish”.