FPN Editor's Blog

Where FPN leads...

karen.tait@archant.co.uk — Thu, 09 Apr 2009 14:13:00 GMT

Others follow?

Nice to see The Telegraph echoeing my message of yesterday. Here's a section from one of their reports today:

'This time last year Mr and Mrs Johnstone finally found a house they liked. It cost €180,000 (£164,000) – right on budget. What they didn't do was snap it up. Being cautious types, they resolved to think about it a bit longer – right up to the point where the credit crisis reduced their €180,000 to €130,000. Bad move. But they are far from the only clients who ended up kicking themselves over their leisurely approach to buying into the French dream. The Johnstone story, however, has a happy ending. With French property prices going down roughly hand in hand with the pound, their chosen house is now reduced to €130,000 – back on budget! What's more, the sellers, who will be repatriating the proceeds of the sale, will end up with the same number of pounds as they would have before they cut the price by €50,000.' http://www.telegraph.co.uk/property/propertyinfrance/mirandaingram/5125311/Property-in-France-Je-suis-une-estate-agent.html

Now if the newspapers, that generally speaking seem to prefer a horror story to one with a 'happy ending', are reporting on it, it must be true and not just a fantasy of mine to encourage people to buy French property!

Those bargains won't be there for ever though...

Winners & losers

karen.tait@archant.co.uk — Tue, 07 Apr 2009 13:32:00 GMT

It’s a somewhat strange situation, but while some owners of French property are feeling the squeeze in today’s gloomy economic climate and are putting their homes up for sale, now is the perfect time for other people to buy a place in France - and not just to take advantage of the discounted prices of many properties on the market now, but also as a safe place to invest their savings.

For a while many vendors were reluctant to reduce their sale prices, hoping they’d return to the giddy heights of past years, but almost all are being realistic now and understand that to attract interest in their properties, they must price them to sell. It’s a buyer’s market in France – great for buyers, not so good for sellers. But all is not doom and gloom for vendors either. For example, if you’re selling in order to return to the UK, and you sell in euros, when you convert those euros to pounds, you should be quids in, hopefully negating any reductions you had to make to the sale price.

For buyers, the exchange rate isn’t favourable. But when you take into account the huge reductions being made on some properties, this should easily wipe out exchange rate problems. Many properties are now for sale at prices you couldn’t have hoped for a couple of years ago – so why aren’t you out there snapping up a bargain? I know many people are feeling the pinch, but equally there are plenty of people out there with savings that have stopped working for them, so why not invest in property instead? Provided that property is in a tried and tested, stable market such as France, you’re almost guaranteed a return on your investment (although the days of getting rich quick from property are in the past, for now anyway, and is that a bad thing?). It's got to be a better option than the banks and the stock market right now.

It all goes to show that in every economic situation, there are winners and losers. And even if you’re at the losing end of the scale at the moment, few people are actually losing money on their French property, and for those who are, there are ways to ensure any losses are minimal.

It was good to see The Times taking a positive approach to overseas property this month too, highlighting some of the great property bargains available abroad, including in France (http://property.timesonline.co.uk/tol/life_and_style/property/overseas/article6036293.ece). Some examples quoted include a stone cottage in the Dordogne or an apartment in a Provencal village, both priced at around £88k. So if you’re looking for somewhere to put those savings…

France Show success

karen.tait@archant.co.uk — Mon, 12 Jan 2009 16:02:00 GMT

Well, I've been back from India less than a week and I've already immersed myself in France - at the France Show at Earl's Court in London. Okay, so it wasn't technically France, but with gendarmes on the doors and a fabulous French market as soon as you stepped inside, it certainly gave me a much-desired fix of France. I left with beautiful pear tarts and meringues (which started off as works of art but ended up a little worse for wear by the time I got them home...) and a selection of variously stinky cheeses! The odour won't confine itself to the fridge, so I hope I don't get any visitors this week... Although I was 'working' (the show being an Archant Life production), browsing the stalls offering everything from French language courses to French furniture, watching the amazing high kicks of the dance troupe, having a go at petanque, and sampling fine wines and champagnes, seemed a long way from the office! The show was busy almost all weekend, but never felt too cramped or hectic - probably because there were so many areas to rest your feet, for example, sampling some of the fabulous French menus on offer from top London French restaurants Cafe des Amis or Mon Plaisir while being entertained by some typically French music. I also gained some inspiration from chef Jean-Christophe Novelli, demonstrating his culinary excellence in the Food Theatre. Sadly, I didn't find time to get in to the Travel Theatres to listen to the various talks on offer, but they were packed with visitors keen to hear all from francophiles such as Carol Drinkwater or Philip Faiers. It all just flew past - we look forward to the show all year and then it's over in the blink of an eye! If you came along, I hope you enjoyed it as much as I did - let us know what you thought of it - and if you didn't, make sure you put next year's show in your diary. I'll be sure to see you there.

Christmas cheer

karen.tait@archant.co.uk — Mon, 15 Dec 2008 12:21:00 GMT

Well, Christmas is well and truly on the way now. Despite the credit crunch, the shops are unbearably busy and the Post Office is threatening a strike, so yep, it must be Christmas...

And now for my confession - I'm escaping Christmas this year. No stressing over what presents to buy family and friends in over-heated shops. No sitting in front of tedious Christmas TV. No excesses of the food and alcohol kind. Nope, this year I'm hopping on a plane and spending three weeks in India instead!

Even there I won't escape Xmas completely as Kerala, where I'm going, has a substantial Christian population who will, of course, celebrate Christmas. I'm rather glad about this though as it'll be interesting to see how they do things over there. Somehow I suspect it won't be as over-the-top as the UK! And I'm looking forward to my turkey curry! (Actually, as southern India is veggie, I'll be giving the turkey a miss altogether.)

How are you planning on spending Christmas? I guess a fair number of you will be roasting your 'dinde' on the other side of the Channel, in your French homes. If so, will it be a copycat of the Christmas you'd spend in Britain or will it have a distinct French flavour? We'd love to hear from you about your Christmas and New Year experiences in France - and, of course, your property resolutions for 2009 (email me on karen.tait@archant.co.uk).

It's been a while since I've been over to France myself and I'm definitely experiencing withdrawal symptoms. At least I can look forward to a taste of France in London when I get back in January. The France Show (9-11 January 2009) will be held this year at Earl's Court - a new venue and lots of new attractions to look forward to. Hope you'll be coming along too - don't forget to say hello to us on the FPN stand, just forgive me if I look a little tired as I'll only just have arrived back from India!

In the meantime, I hope you all have a wonderful Christmas and New Year, wherever you are. See you in 2009!

Don’t give up on your dreams

karen.tait@archant.co.uk — Sat, 25 Oct 2008 13:54:00 GMT

Did you see last night’s ‘A Place in the Sun: Home or Away’ on Channel 4? A retired couple had half a million to find a place in Berkshire or on the Cote d’Azur. The wife wanted France, the husband England. It wasn’t cut and dried though, and by the end they were both pretty confused by what they’d seen. In France they’d viewed a trio of properties in the hills behind the Riviera, with rolling views across hillsides and forest to the Med. But in the end they settled for an ex-caretaker’s cottage at the end of a grand driveway in Berkshire. I say settled because although the wife liked the property, she was definitely giving up her dreams to live in France. As she said (with a sigh), she’d always dreamed of waking up in the morning and opening the bedroom window onto one of the views she’d just basically given up on. I felt sad for her. The fact is, sometimes in life you have to be practical and compromise. But when you get the chance to fulfil your dreams, you should grab it with both hands. What really got me is that buying one of the French houses wasn’t their only option. They could have rented for a while to find out if France lived up to expectations. Perhaps after six months she would have got it out of her system. Perhaps the experience would have disappointed. Perhaps her husband would have fallen in love with France too. At least they’d have tried it. Even if they hated it, what would they have lost? They could still have bought a place in Berkshire. As it was, the sale on their own property in the UK fell through so they couldn’t buy the caretaker’s cottage anyway. They could have rented out their English home and rented a French place – they may even have made money on the deal, to spend on vin rouge and menus du jour. I guess what I’m trying to say is, whatever your circumstances, don’t give up on your dreams. You might have to take a different route to them than you’d imagined but there’s nearly always a way. Go for it!

France.e.motion

karen.tait@archant.co.uk — Thu, 16 Oct 2008 20:23:00 GMT

I went along to the ‘France.e.motion’ photography exhibition at Canary Wharf the other evening – a joint project between the French tourist board Maison de la France and photography students from the London College of Communication-University of the Arts. The photos were of 22 French cities from a variety of perspectives, including lifestyle, culture, landscapes, gastronomy, design, cafes and nightlife. The exhibition is only on until the 18^th October, so if you’re in the Canary Wharf area, drop in and have a look. Alternatively, log on to www.franceemotion.com and check out the photos along with trip ideas for each of the cities – plus there’s a chance to win a short break to Mulhouse, Metz or Dijon.

The exhibition got me thinking – what’s my favourite French city. I’ve been to a fair few over the years, and driven through many more on my way somewhere else, almost always thinking I must come back here some day and have a proper look around. Paris is so special, so iconic, from great monuments like the Eiffel Tower to intimate restaurants hidden down side streets. Dijon’s a place of culture, with beautiful buildings, great restaurants (are you getting an idea of what I like about France?) – and birthplace of one of my personal favourites, the kir royale… Montpellier is at once modern and ancient - with its vast student population, there’s a youthful feel to the city and plenty of nightlife, yet the university is the oldest in France (and there’s a Banque de Worms, which tickled me, but then I’m easily amused…) Amiens is one of those French cities with hugely impressive architecture (i.e. the cathedral) but a friendly small-town atmosphere – and a great antiques market, which I’ve happily plundered. I’ve been along to the Lille Braderie a few times too, in fact in England I sleep in a lovely old Louis XV-style wooden bed courtesy of the vast antiques and flea market that takes over the city’s streets every September (and only €80, what a bargain!). And what about Lille’s great Christmas market – I nearly froze to death on the Big Wheel one year. Avignon is another amazing city, with the stunning Pope’s Palace and views over the Rhone – and yet more wonderful restaurants and antiques markets. But I think my favourite city (or is it a town?) is probably Annecy; I just love the old town, the canal, the lake, the mountains surrounding it (and the restaurants… no wonder I’ve piled on the pounds while working for FPN) – if only other people didn’t love Annecy so much too and the property was cheaper!

The French cities in the exhibition are Amiens, Aix-en-Provence, Angers, Avignon, Bordeaux, Dijon, Grenoble, Le Havre, Lille, Marseille, Metz, Montpellier, Mulhouse, Nancy, Nantes, Nice, Nimes, Reims, Rennes, Rouen, Toulouse and Versailles.

Is one of these your favourite? Or an entirely different city? What makes them your favourite? And do you love them as a place to visit or would you like a holiday home there? Perhaps you'd like to live there full-time? Whatever your thoughts on French cities, I’d love to know.

What goes up…

karen.tait@archant.co.uk — Mon, 06 Oct 2008 10:26:00 GMT

At FPN we don’t often concern ourselves with buildings that are being knocked down - we’re more interested in new developments and houses that have stood for many years and are destined to go on doing so. However, a news snippet has come to my attention that features a tower block being dynamited – nothing interesting there, you may say, but the demise of this high-rise will be immortalised on film. The block is located in the town of Montfermeil, in the Parisian suburbs, which will shortly be hosting the shooting of a film, entitled From Paris with Love, starring John Travolta no less. So if you own a property nearby, you may be lucky enough to catch a glimpse of the US star and his entourage!

But what comes down, must go up? In another part of Paris – Porte de Versailles – the first skyscraper to be built in 30 years is being planned. Some 180m high and the work of Jacques Herzog, the building is at present only at planning stage: “It is simply a proposal to give us an idea of what a skyscraper would look like in this area, home to the Paris Exhibition Centre,” commented an urban planning adviser to the mayor.

France still favourite

karen.tait@archant.co.uk — Sun, 05 Oct 2008 10:06:00 GMT

A couple of interesting surveys have just been released. One from Conti Financial Services reveals that France remains one of the top destinations for people looking for property abroad. France sits just behind Spain in the top spot, showing that ‘tried and tested’ locations still lead the pack, despite interest in recent years in Eastern European countries and hotspots further afield such as Dubai (at seventh place in the Conti list) and Cape Verde (not yet in Conti’s top 10). The gap is narrowing, however. Spain and France account for one in three enquiries received by Conti so far this year, who comment: “France, accounting for 14% of enquiries and creeping ever closer to the number one spot, is enjoying a stable market and has not suffered from the well-documented credit crunch. It’s an increasingly attractive investment option, not least because of lower interest rates and property prices, but also due to a number of tax incentives introduced by Sarkozy to promote home ownership. So, although Brad and Angelina have recently splashed out on their huge French Riviera chateau, France is certainly not just for those with a celebrity bank balance.”

The second survey, from Primelocation.com, reveals that, despite the credit crunch, 58% of British people still want to buy a property overseas, although 33% are reconsidering their finances and 27% are now looking for a cheaper property – clearly people are not willing to lose sight of their dreams, but are being realistic about how they can achieve them. Of the people who took part in the survey, 48% wanted a holiday home, 38% a permanent home and 31% were looking to purchase a property as an investment. The survey also showed that buyers are moving away from emerging markets in Eastern Europe and back to the ‘established and perceived safety’ of the west.

The uncertainty in the airline industry, with less well used routes facing the threat of being cut, may have had an effect on property hunters’ location decisions too. With so many travel options, France must surely remain one of the top countries for overseas homes. In fact, the the Primelocation survey puts France at the top of the table, with 24% looking for a property there, followed by Spain at 13% and Italy at 11% (in the Conti report Italy was in ninth position with 4%, while Turkey was in third place). Some 59% were planning on spending between £50,000 and £250,000 on a property.

A bientot,

Karen

Bienvenue!

karen.tait@archant.co.uk — Mon, 29 Sep 2008 08:40:00 GMT

Bienvenue to my first ever blog!

The French Property News team will be using this blog to discuss French property, current affairs and anything else to do with France, from the seriously serious to the seriously trivial.We're looking forward to your comments too.

As the summer draws to a close, we’ve been spending as much time as possible in France. Contrary to what many FPN readers think, I don’t spend all my time gallivanting round l’Hexagone (I wish). But I do try to cross the Channel as much as I can. This past month I’ve visited a few new property developments in the Alps and Med coast, and have spent a long weekend with friends in the magical city of Carcassonne, during which time I also visited the stunning village of Minerve (one of France’s Plus Beaux Villages and definitely to be recommended), strolled along the Canal du Midi in the sunshine at Homps, and enjoyed some fantastic seafood at Sete on the Languedoc coast. I then drove up to Charente to visit a friend, stopping on the way at Cordes sur Ciel, St Antonin Noble Val and Albi, all fantastic places to visit – or buy a property.

This was followed by a couple of days relaxing at my friend Jo’s lovely home near Confolens. When she first moved in to the house, it was barely habitable, consisting of a couple of almost derelict rooms with attached barns. She’s done a fantastic job over the past few years turning it into a spacious and characterful home – just one example of the many Brits who have devoted their time to bringing derelict French property back to life. I could happily have stayed a few weeks, but the magazine doesn’t appear by magic so it was back to Blighty.

(FPN deputy editor Georgina has been busy too, travelling to Picardy and Bordeaux – more soon about that, both in the magazine and online in this blog.)

These are strange times in the French property world. While many househunters seem to be holding back at the moment, perhaps waiting for their UK home to increase in value again or for the pound to strengthen, on the other side of the Channel many of the properties that typically appeal to UK buyers are being marketed at equally appealing prices - in fact, some are cheaper now than they would have been a year or two ago. Vendors are having to be realistic about the prices they ask for their properties, especially if they’re aiming at UK buyers. Traditionally, property prices in France have risen in line with inflation, but over recent years they have risen considerably more in some places – for example, 25% Charente-Maritime and 14.8% in Dordogne in 2004-2005 (figures from Notaires de France). Although France, with its strict lending criteria, hasn’t been affected by the credit crunch as much as the UK, there has been a slowdown in the property market. In 2005-2006, house prices rose by 14.2%, while 2007-2008 saw a smaller rise of 5.4%. In July and August, according to the FNAIM (French estate agents organisation), property prices started to drop, by 1.5%. Vendors aside, many people actually welcome this stabilisation of the market, and a return to the situation whereby property prices rise in line with inflation, keeping property affordable.

All markets have their ups and downs, and one person’s misfortune is another’s opportunity. Unfortunately, if you’re selling a property in rural France right now, the chances are you’ll have to accept a lower price than a year or two ago. If you’re buying then you’ll have the pick of the bunch. Luckily though, people rarely buy property in France purely to make a profit, rather they buy a French home as a passport to the traditional French lifestyle that appeals to so many of us Brits. And long may that continue.

A bientot,

Karen