Provence Property Market

Provence has been the #1 destination for holiday makers in France - and it is not surprising that property here is more expensive than the rest of France - especially on the Cote d'Azur.

1st for French Property MD Howard Farmer says that "Provence has been our strongest market in 2011. We have seen an increase in sales in the first 6 months of the year for this region."

Here is a American perspective on the Provence Market:

The real estate market in Provence is healthy this year, according to Antoine Reguis, owner of Your Provence, a real estate company based in Goult. Well-priced homes sell in four to six months, “which is a normal delay for this rural market,” Mr. Reguis said. Andrea Bichi, a property consultant for Your Provence and the listing agent for this property, said that in the current market homes often sell for 10 to 15 percent below the asking price.

“The prices are still high, in spite of a slight decrease in 2010,” said Marie-Madeleine Nelson, managing director of the real estate company Un Mas en Provence. She added that sales prices spiked 40 percent just before the economic downturn in 2008, and that the 2010 decrease was part of a market correction.

Village houses in Provence with no outdoor space cost about 300,000 euros ($425,000 at .71 euros to the dollar), Mr. Reguis said, while village houses with gardens or terraces can command as much as 800,000 euros. Farmhouses with a bit of land start at 700,000 to 800,000 euros, but Mr. Reguis said most farmhouses in good condition cost 1 million to 2 million euros. It would be rare, he added, for a country house in Provence to sell for more than 7 million euros.

Read the complete article on NY Times.
 

There is still room for negotiation on prices but the market is beginning to improve. For a selection of over 1400 Provence Property discover 1st-for-French-Property.co.uk

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