News
Languedoc property hot
Two recent reports reveal that the French property market is holding firm in an increasingly competitive international marketplace, writes Paul Beasley
The latest Assetz Property Investment Tracker shows that the average price of property across France rose by 10.3 per cent in 2005, more than that experienced in other popular European property spots including Italy, Greece and Portugal.
The Assetz figures follow the latest study by FNAIM, the association of French estate agents, which states that annual property price increases in French cities have cooled slightly to 9 per cent.
However, the same study reveals that certain cities in the Languedoc-Roussillon region, which neighbours Provence-Cote d'Azur in the South of France, are achieving price increases well above the national average.
Beziers, for example, managed an annual price increase of 38.5 per cent, helped by talk of budget airlines beginning to fly to the city's airport. Other cities achieving high property price growth were the attractive medieval city of Narbonne, at 17.2 per cent, the lively waterside town of Sete, at 9.5 per cent, and booming Montpellier, at 10.9 per cent.
Despite these increases, city property in the Languedoc is comparatively cheap, ranging in price from £1,140 to £1,880 per square metre, according to FNAIM. This is a full 50 per cent cheaper than cities in Provence.
Unsurprisingly, the Languedoc features strongly on property agency VEF's data for the first six months of this year showing in which regions the company had sold the most property to Brits. With 10 per cent of sales, the Languedoc finishes behind only Aquitaine and the Limousin, each with 18 per cent of VEF's UK business.
The company currently has a fully renovated two-bedroom village property available in the Minervois, west of Beziers, for 308,985 euros, and a four-bedroom villa with swimming pool 40 minutes from the beaches of the Cap d'Agde for 422,985 euros (pictured).
With Montpellier recently voted the most desirable place to live in France by 65 per cent of respondents to a French poll, the Herault - the department in which Montpellier is located - achieving second place in an Express magazine survey of the best departments to live in, and the Languedoc considered the top retirement destination by French residents, there's plenty to keep the Languedoc's property market hot into the foreseeable future.
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For further information:
Assetz
FNAIM
VEF
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18 December 2006