More than 80% of towns and cities in France have experienced a rise in property prices.
Property prices in Bordeaux have reached a record high and have surpassed the national average. According to an August 2016 study by SeLoger, property prices in Bordeaux have increased by approximately 7.1 percent. While most property in France costs an average of €3,292 per square metre, Bordeaux has an average cost of €3,571 per square metre.
While many popular areas of France have seen a rise in residential property prices, certain locations have had more of an increase than others, particularly since the start of the summer. Home Hunts has had a noticeable increase in enquiries and sales in sought-after locations like Bordeaux, Dordogne, the French Riviera and Languedoc. Right now, there are excellent deals to be made in many areas of France, especially with interest rates at an all-time low.
Buyers have a strong interest in Bordeaux property
Bordeaux is now the fourth most expensive city in France after Paris, Nice and Lyon. It has seen the highest price increase in part because of its close proximity to the high-speed train that transports people to and from Paris.
“Bordeaux is a stunning city with amazing facilities. We often get enquiries from international buyers looking for a character home within easy reach of the city. Of course, we also have a lot of clients who are looking to buy vineyards in the area,” says Tim Swannie, Director of Home Hunts. “The vineyard market in South West France has grown and grown over the past five years, with interest from all over, including the UK, the US, Russia, China and other countries.”
Explorimmo listed Bordeaux as one of France’s top ten cities for property investments.
More of France’s in-demand towns and cities with a rise in property prices
While residential property prices around the world were falling, prices remained stable in Paris and the French Riviera. Over the past couple of years, prices have even increased. “Paris and the Riviera are very special markets and both remained buoyant, even through the credit crunch,” says Tim.
In Paris, which was already France’s most expensive city for purchasing property, prices have risen by approximately 1.2 percent. Montpellier has seen an increase of approximately 2.1% and Nice has had an increase of around 3.9 percent.
“These figures don’t come as a surprise to us at all. While it is still a buyer’s market, it is great to see that confidence in the French property market is building. There are great deals to be had throughout France and it is our job, as a buyer’s agent, to find the best properties available,” says Tim.
For more information about where to invest in property in France or to search for luxury property in France’s sought-after locations, visit home-hunts.com. To speak with a consultant about your property requirements, call Home Hunts at +33 (0)970 44 66 43.