Housing market slowdown?

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uma-643837

1121804951

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I have heard that houses in various areas of the South of France are sitting a lot longer? Are prices going down yet? Everyone talks about a correction in the market as prices doubled on the Cote in the last 7 years. Wondering what your opinions are? thanks viva la France!

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Var Chick-643784 1121810185

In our experience property 'sits' for longer in France. When we bought our house it had been on the market for over 6 months which was not considered unusual.


I also think it depends heavily on the areas you are looking at....certainly in our area of the Var there is no sign of a slow down. However the local estate agents do say that locals are getting greedy and trying to push the prices for international buyers, especially potential 2nd home owners. So who knows what that will mean in the future.


Our house has gained significant value in the 2 years since we bought it - without really any work or investment and there are no signs of prices dropping around here, quite the reverse.


Also lots of new builds still going up.


All in all still very positive here and with new businesses being actively encouraged to move to the region then I for one am very positive that we won;t see a slow down just yet. Mind you, it all goes in cycles....so assume it will happen at some point....


Interesting topic, what do others think?


 


Var Chick


 

AndyW-643726 1121880081

I can't speak for the greater part of this region, but from what I've seen, the property market here in the city (Marseille) is still booming. Certainly all the new apartment developments in the city are selling very well, and a great many of sites that are due to be finished in 2007 are already selling out now.

Of course, the re-sale market is different, and I don't know very much about that at all, but certainly the new build stuff is shifting quickly, some really good deals too, cheap apartments, of very modern and tasteful design, in good areas. I don't know why more people don't consider Marseille a viable re-treat, I love it! Anyway, thats another topic for another time.

spiritofangels 1121978875


hi

We have good friends here in the property business and it is true that things are quite a bit slower this year. Also, people we know in the UK who send clients to France are not as busy as they were last year.

It is also true, that some of the French do tend to be "optimistic" about the price they want for their property, often against the advice of the Immobilier, though I don't think this is aimed particularly at the foreign buyers.

Apparently Toulon is an up and coming area with new build and off plan properties selling very quickly.

spiritofangels

Var Chick-643784 1121980274

What reasons are being given for the slow down?


Var Chick

uma-643837 1122318938

From what i heard Varchic, in the year 2004 more English declared personal bankruptcy than ever before which means many of those second homes they bought they will be giving up...a banking friend on the Riviera also told me that all her American clients left and that many of her Brittish clients cannot afford their payments..


 



viva la France!

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