\nThe French property market is bracing itself for a tough year ahead in 2010 but real estate experts do not expect a sudden recovery despite prices showing signs of stabilising.\n<\/p>\n
\nAlthough the global economic downturn has made the last 18 months hard for the real estate industry, France has benefitted from not having an overpriced market and a system that is more cautious and less gung-ho in terms of lending.\n<\/p>\n
\nIt hasn\u2019t seen the kind of boom and bust that has affected its neighbours in Spain and Britain.\n<\/p>\n
\nBut the economic crisis has dented confidence and recent research from the FNAIM, the professional organisation for estate agents which has 12,000 members, shows that in France people think it is not a good time to buy or sell despite average price declines of 5% in 2009 compared with the previous year making it very much a buyer\u2019s market.\n<\/p>\n
\nThe Alps have been particularly badly hit because in this part of France demand meant houses have been over priced. \u2018It has been extremely difficult.\n<\/p>\n
\nMany buyers over stretched themselves and have been experiencing financial difficulties,\u2019 said Andrew Hawkins of Chesterton Humberts International, chartered surveyors and estate agents.\n<\/p>\n
\nHe predicts things will pick up in the middle of the year.\n<\/p>\n
\nOthers agree. \u2018In the French Alps prices have dropped by between 10% and 20%, depending on location, which is highly unusual because French property is much less prone to acute movements in price.\n<\/p>\n
\nLack of supply is now preventing prices from falling further and there are good deals to be found throughout the area,\u2019 said Nigel Hindle of Property Vision France.\n<\/p>\n
\nWhereas Aquitaine and Languedoc Roussillon have ridden out the recession well with house prices down just 0.3% and 0.2% respectively.\n<\/p>\n
\nHawkins predicts that well located houses in good repair, with pools, especially those along the coast on either side of Marseille will do well in 2010.\n<\/p>\n
\n\u2018Marseille and its environs have become increasingly popular with investors especially with government investment in the city,\u2019 he added.\n<\/p>\n
\nAlistair Lockhart, Sales and Marketing Manager at The French Property Agents (FPA) is also confident about the region. \u2018We feel that the Dordogne will make a comeback in 2010.\n<\/p>\n
\nPrices have been artificially high for the last five years and they are now coming down making the area more accessible,\u2019 he said.\n<\/p>\n
\nIn and around Marseille is his top tip for 2010. \u2018Marseilles will see much regeneration work in the next few years, especially round the harbour area.\n<\/p>\n
\nThis is definitely an area for the buyer, particularly the Haussman apartments,\u2019 he added.\n<\/p>\n
\nPopular areas like Normandy and Brittany area also expected to do well as there is always demand from families looking for holiday homes.\n<\/p>\n
\nAccording to Trevor Leggett, Owner of Leggett Immobilier, property that is well priced will sell in 2010.\n<\/p>\n
\nHe believes that the downturn has been good for the property market as prices were too inflated in many regions and that put off the mainstream buyers who are French not foreigners.<\/p>\n","protected":false},"excerpt":{"rendered":"
\nThe French property market is bracing itself for a tough year ahead in 2010 but real estate experts do not expect a sudden recovery despite<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[],"persona":[],"class_list":["post-3052","post","type-post","status-publish","format-standard"],"acf":[],"yoast_head":"\n