French property has managed to retain its allure despite the global downturn, which started in 2008. Tim Swannie, from Home Hunts, who helps British buyers to find their dream property in the South of France, says: "We didn't have the same lending boom in France and this has insulated the market a little. But, like anywhere, there has been a coming off of prices, say 10 to 15 per cent, but not to anywhere near the same extent as other major global markets."
In the key markets – for British buyers – of the Cote d'Azur and Provence, sales and prices have swung around over the past 12 months. "British buyers have definitely come back. There is a sweet spot with the euro-to-pound exchange of about €1.20, and as we have neared that it has encouraged some to take the plunge. But it's not just the Brits buying: there are the Russians, Dutch and even, increasingly, the Chinese," Mr Swannie adds.
Maria McLean, director of Ellisium Partners (ellisiumpartners.com), which, alongside Home Hunts, offers a bespoke service to buyers and renters of French property, says business is good. "There has been a flight to quality when it comes to overseas purchase. People still have the ambitions to own abroad but they want the Is dotted and Ts crossed, and that's where we come in."
Likewise, Nick Leach, UK director of the huge French property and tourism group Pierre & Vacances (pv-holidays.com), says the problems encountered by buyers elsewhere – in Spain and the United States, for example, and in "frontier markets" such as North Cyprus and Bulgaria, has focused minds on the appeal of France. "Buyers are doing a lot more research than they were during the boom years, which is a good thing for France. It's on the doorstep, a long-established favourite with a sophisticated legal and planning system, and rental guarantees are often supported by big groups – such as ours – making it a sensible choice for Britons," Mr Leach says.
Pierre & Vacances has seen British buyers focusing again on the Alps – in particular, the group's new developments in the resorts of Avoriaz and Flaine. But closer-to-home locations such as Normandy have seen an uplift in interest from Brits.
So, with the market ticking along and prices beginning to rise in some locations, where are the French bargains to be had? The Languedoc-Roussillon region is nestled between Provence and the Pyrenees, and is attracting interest from British buyers wanting the French lifestyle but not at premium prices. "This is the authentic south of France: you have the wine, the heritage, close proximity to skiing in the Pyrenees, and the beaches of the Mediterranean," says Daniel Martin, senior real-estate adviser at Garrigae (Garrigae.com) which is opening two new developments there.
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