Tuesday, November 23, 2004

Property prices in Languedoc-Roussillon leveling off

Over the past year or so, prices of property in Languedoc-Roussillon have shot up. This is due to sellers thinking that they can charge more because there are so many foreigners, particularly from the UK, looking for holiday homes and houses for their retirement. Also this once "undiscovered" area, west of overpriced Provence, has now been discovered. People have realised that Languedoc-Roussillon has more sunny days than any other part of France, is beautiful and unspoiled, and prices of property are more reasonable than Provence.

Many popular television programmes in the UK have featured families searching for and buying houses in Languedoc. They have broadcasted prices of properties from a year or so earlier, when prices were substantially lower. In the last year, prospective purchasers have been flowing across the Channel or through the Chunnel, expecting to find old stone farm houses, or barns, with large gardens for less than 100,000 euros. They have been disapointed.

Most of the good old stone houses and barns have already been bought up several years ago. If you are looking for one of these, you'll have to settle for one that has been renovated and is now on the market because it's homesick owner is ready to go back to the chilly, damp UK. If you are lucky enough to find an old stone house, it will probably be in a remote area and need a lot of work.

Prices in the area have been over-inflated over the past year. Sellers have been asking too much because they felt that there was a lot of demand, but buyers have been put off by the unexpectedly high prices. The market has been flat for more than 12 months, and many properties have been on the market for many months without an offer. Things seem to be changing. Property owners are realising that they must reduce the prices they are asking if they want to make a sale. Many prices are being reduced by as much as 20%. If you see a place you like but the asking price is above your budget, don't be afraid to put in an offer, even at 25% below the asking price. Don't worry about offending anyone, just say that this is your top budget and you can't pay any higher. You may be surprised.

Good Luck!

Look at current prices for property in Languedoc-Roussillon:
www.french-property-sale.com