Thursday, March 4, 2010

French property sales up but property shortage

Recent discussions on one of the French property forums ( and in the British press have highlighted the fact that suddenly and to many people's surprise, the French property market appears to have picked up during the first few weeks of 2010, with the notable return of British buyers to southern France and the Mediterranean.

In a curious twist however to this encouraging news, several of my local estate agent colleagues report a dearth of correctly priced, good quality houses and apartments. Some have even been unable to locate suitable properties for serious buyers, with upwards of 400,000 euros to spend.

It seems that many vendors have simply withdrawn their property for sale, while the market was slow and in anticipation of a revival in 2010. Prices have however not fallen significantly and many French vendors are still reluctant to spend money presenting their property for sale - a process that can cost as little as two or three per cent of the sale price and dramatically improve their chances of attracting a buyer.

Finding the right property may take a little longer, as buyers becoming increasingly discerning in their choice.