» Price reduction

Lower prices for holiday homes in Normandy and Brittany

Rachel — Thu, 22 Jul 2010 15:37:27 +0000

According to the well know French Magazine Capital, fifteen years ago France counted 2.2 million holiday homes. Nowadays, 3.3 million holiday homes are spread all over France. Since the financial crisis in 2008, the French countryside has seen price decreases for several holiday homes. However, you should be aware that it is not the same in all regions of France. For the last decade, country house prices had doubled but have fallen in the past two years. This is mainly due to the fact that foreigners sold their holiday homes in France in a hurry during the crisis. So now is a great time to buy your holiday home in France.
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Before buying, you should be aware that owning a holiday home has a cost. Depending on the area, maintenance works cost an average of 2% of the value of the house and can go up to 4% when your house is located on the seaside with a pool. Of course, if you want to buy a house on the Mediterranean, prices won’t go down because it has always been and will always be the most privileged area for foreign and French buyers. But if you are looking for beaches, pleasant weather, pine forests, pastures and plains, how about considering the areas of Normandy and Brittany?
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Even if the coastline remains expensive, the countryside in Normandy and Brittany has experienced a price decrease for old houses from 10% to 20% since 2008. In fact, during the crisis, most of the properties were sold extremely quickly. Normandy has numerous advantages for British people who want to purchase a property in France. Also, it is not too crowded with Parisians, who would rather buy a house in the large periphery of Paris such as the Oise or the Eure-et-Loir departments. With 600 kilometres of coastline, Normandy offers a temperate climate thanks to the proximity of the sea. Finally, it is not too far away from the UK as there are numerous ferry ports.
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In this area of France, prices are extremely variable due to the vast amount of properties available. Small stone houses to renovate can be purchased for approximately €50,000 and half-timbered houses for €500,000. Prices can goes up to €3,000,000 for castles.
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In Normandy, the Orne department allows buyers to find property with interesting price reductions. For example, a stone house with 150 sqm of living space has decreased in price by 39% since March 2009. With a price of €189,500, this south facing renovated stone house offers a 1600 sq m landscaped garden, barn, bread oven, terrace, oak door and beams. In the same department, you can find a charming half-timbered property offering two houses. With a total of six bedrooms, the property is priced at €239,200. One year ago, the property was for sale at €291,200. This decrease of 21% speaks volumes of the opportunities that can be found in Normandy.
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Going through the Manche department, properties are closer to beaches. You can find a large character stone house set in 15,000 sqm near Gavray, offering 300m2 of living space and in great condition. With a price of €640,000 in March 2009, an exceptional decrease of 62% allows you to buy this property for €395,050. This is certainly one of the greatest opportunities with Sextant Properties in terms of price reduction. Of course, this exceptional decrease is not that common and it’s far more usual to find properties with an average price decrease of 10% to 20%.
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Brittany is an excellent place to invest in a property. In fact, the SNCF (The French railways) will extend the West TGV (high-speed train) to Brest in the Finistere department in 2015, meaning the town will only be three hours away from Paris. Nowadays, it takes at least four hours and a half to link the French Capital and the western tip of Europe. Prices will increase with this faster transportation link so now is a good time to benefit from lower prices. For example in Carhaix, for €96,500, a typical country house is available, the price having decreased by 27% since February 2009. The property offers outbuildings in 4875 sqm of land.
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Cotes-d’Armor and Morbihan are also popular departments in Brittany with many Breton style properties on the market. In this area, the real estate market plunged in 2008 and 2009. Consequently, properties that were expensive two years ago are now affordable. In the Cotes-d’Armor department, a village house of €46,200 allows you to renovate according to your own tastes. With a large cellar and attics, the price of this stone house has known a decrease of 15%. Finally, In Saint Aignan in the Morbihan department, an outstanding property with gite and swimming pool is available with a price decrease of 26% from October 2008 and is now €455,000. What is good to know with this professionally renovated house and three bedroom gite is that no work is required and it is ready to move into.
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Thus, there are many price reduction opportunities in Brittany and Normandy. If you want to find out more about these properties, don’t hesitate to visit the Sextant Properties website or to contact one of our property advisors.

Breaking News – Price reduction of the Finca Majorca development in Collioure

Matthieu Cany — Tue, 15 Sep 2009 11:39:11 +0000

We are pleased to announce a price reduction of up to 17% on the 13 remaining properties on the Finca Majorca development in Collioure.

This development, on which construction has already begun, is scheduled for completion during the first quarter of 2010. This is a fantastic opportunity for those wishing to purchase a property in this charming seaside city located near Perpignan and the Spanish border.

Classified as a site of outstanding natural beauty which has inspired many great artists such as Matisse and Derrain. With its slate walls, cypress trees and pastel colours, this lively city has charming street markets, art galleries, gourmet restaurants and regular festivals and is just 40 minutes from Perpignan-Rivesaltes airport which is serviced by Ryanair

click here to view the properties in Collioure

Special offer in la Plagne: Yield up to 4.2%

Matthieu Cany — Fri, 08 May 2009 13:21:21 +0000

Only 7 apartments remain available in a leaseback residence in La Plagne. The official yield is 3.8% and 2 of the last few remaining apartments have a special offer of 4.2% until the end of this month.

Prices range from €196,936 to €589,587. You can view the description on Sextant website by typing the ref 8030 or by clicking here: La Plagne

If you are interested contact us ASAP on 020 7428 4910

Price reduction on New Build developments in St Remy de Provence

Matthieu Cany — Mon, 13 Oct 2008 16:07:00 +0000

If you are among those wishing to buy a property in the South of France, there may be a lucky break for you! Because of the current financial crisis, New Build developers are making efforts to help you buy a property. Bouygues, for example, are cutting prices for a specific development which is going to be delivered at the end of 2008. They lowered the price of their new build apartments in St Remy de Provence, indeed, by 20%. As a result, it is now possible to get one of the remaining 7 Mas du Rouvre apartments for €189,400, instead of €209,400.
€236,600 will now buy you a three-bedroom apartment, located in the picturesque village of St Remy de Provence, at the foot of the Alpilles and offering 77m2 of living space. If you invest €249,900, you will become the owner of an 81m2 apartment, comprising four bedrooms, in the midst of green hills and perfumed countryside.
The particular atmosphere of St Remy de Provence seduced and inspired lots of painters, poets, musicians and writers. The charming city has a rich historical and cultural heritage, as we can admire Gallo-Roman vestiges, attend a bullfight in the bullrings of the city or visit the ethnology and popular arts Museum. St Remy perfectly mixes tradition with stylishness and consequently pleases everyone!
What’s more, the notary fees are less expensive on New Build developments purchase than on old property purchase. That is to say they amount to 6% to 8% of the property price for an old property, against 2.5% or 3% for a New Build development in France.
So, if you were reluctant to buy a property in view of the current crisis, you should think twice!

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