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Glitter French province

01.01.2008
Author: Louise Taylor, Sarah Speight
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Russian investors traditionally prefer two French destinations - Paris and the Cote d'Azur. However, many other parts of the country is also very attractive. Those who are not in captivity stereotypes, it is worth paying attention to Bordeaux and Beaujolais - wine Frantsii province where many houses are sold together with a vineyard. And those who are limited in the budget, may well find a suitable home in Normandy - the north-west of the country.
One of the latest trends in the French real estate market is the ever–growing demand for houses in the provinces. The fashion for a "rustic" lifestyle has affected both the French themselves and foreign buyers, who are attracted by the flavor of "real" France. A special chic is the purchase of a house with a vineyard.
The problems that the French wine industry has recently faced, in particular the high competition from the New World, are forcing many winemakers to sell their homes and vineyards. Richard Edds of Leisure and Land, which specializes in the sale of French commercial real estate, says: "Vineyard prices have fallen by 15% on average between 2004 and the present day, and in some regions owners are selling vineyards only because they cannot maintain them." This means that the most active and astute investors can buy antique houses at reasonable prices. The most popular wine regions are Bordeaux and Beaujolais. They are not only famous for the quality of their drinks, but also offer interesting options for real estate buyers.
But not only the wine regions are interesting for foreign buyers. Normandy is also very attractive to foreigners. The reason for this is the relatively low prices and convenient transport situation.

Bordeaux is the epitome of history
Those who are getting acquainted with real estate offers in the Bordeaux region for the first time literally run their eyes away, such a number of family houses, vineyards, wineries and other rural buildings are offered for sale here. At the same time, Bordeaux is a very prestigious region, so prices are high here. Vignobles Investissement offers an estate with 7 bedrooms, a new winery, equipment, outbuildings and with almost 20 hectares of vineyards for just 2 million euros. For a more modest price, you can buy a stone house built in 1850 with 9 hectares of vineyards near Bordeaux airport. It costs 954,000 euros, and the sales are led by Leisure and Land.
Not everyone needs vineyards in their property. This is what Mags tells Dan from Live Bordeaux: "Many people are looking for holiday homes with 2-3 bedrooms that do not require mandatory renovation, costing from 300,000 to 400,000 euros." In the company's catalogues there is an offer for the purchase of a renovated rural house in 30 minutes. a drive north of Bordeaux for 325,000 euros. The house is decorated with stone from the outside, has 3 bedrooms, a spacious living room, and a plot of 1000 sq. m. m with garden and swimming pool.
Historic houses with open fireplaces, beamed ceilings and old-style staircases are in particular demand. Mags advises Dan to buy a house that requires minor repairs: "Such houses are cheaper than already renovated housing. In addition, you will be able to add individual features to the image of the house. Those who buy a house with a garden need to pay attention to the fact that it is not too small, but also not too big, otherwise they will have to make significant efforts to maintain it."

Beaujolais – vineyards and pines
The Beaujolais district is located a few dozen kilometers north of Lyon. Foreign investors discovered it not so long ago, so real estate prices are not very high here yet. The area is also attractive for its well-established transport links to Paris. Apart from the fact that Lyon is connected to Paris by high–speed rail, the Alpine resorts are only 2 hours away, and Switzerland is only a little further away.
Beaujolais is part of the Rhone–Alpes region, bordered by Burgundy to the north and the Loire to the west. The landscapes of the southern part of Beaujolais, which is called the Golden Stones, resemble Tuscany. Carefully restored historical buildings make this area attractive for investment. Especially picturesque are the medieval villages of Ua, Jarniou and Bagnol, located on hilltops and famous for their ancient castles. Prices are rising here due to high demand from the residents of Lyon. To the west of the Golden Stones, the landscape is changing – vineyards give way to pine trees. This part of Beaujolais resembles Alpine landscapes, which is why locals call it "little Switzerland". There are not many attractions here, and tourists do not come here so often.
The range of real estate in Beaujolais is as diverse as the landscape. In the south, near Lyon, you can buy a renovated 2-bedroom holiday home with a small garden from 350,000 euros. Housing with vineyards is attractive to investors, but as a rule these are large houses that require minor repairs. They can cost from 280,000 to 340,000 euros plus the cost of repairs.
To the north, the houses are built in a traditional style – made of stone. Renovated buildings with 3-4 bedrooms and a large garden can be purchased at a price from 325,000 to 450,000 euros, depending on the size, location, land area and quality of reconstruction work. Large family houses cost about 460,000 euros. In the western part of Beaujolais, housing prices are even more affordable. Houses with land can be bought from 160,000 euros, and housing that requires complete reconstruction will cost less – an ideal option for buyers who are looking for affordable housing with outbuildings in the yard and a significant amount of land.

Normandy is beautiful and accessible
Normandy is a historical region in northwestern France, divided into two regions - Upper Normandy and Lower Normandy, and includes 5 departments: Eure and the Seine–Maritime in Upper Normandy, Calvados, Manche and Orne in Lower Normandy. Haute-Normandy is a more urbanized region, located closer to Paris, and therefore more expensive. In Lower Normandy, rural and traditional houses prevail, and prices are more affordable here.
Chris Slade, one of the heads of A House in Normandy, says that you can buy a house here for little money for France, but it all depends on the quality of the house and its location. "At some distance from the sea, you can find a house that does not require renovation, with a budget of 150,000 euros. However, cosmetic repairs will still have to be done in it." Penny Zoldan of Latitudes agrees: "For 110,000-150,000 euros, you can buy an old house with 2-3 bedrooms and a garden. But you still have to spend money on a new finish."
At the same time, there is not much difference in the prices of the primary and secondary markets. In Latitudes, you can find an offer for the sale of real estate in a new complex in Cherbourg, Manche department. Here you can buy a studio apartment from 96,700 euros and a one-bedroom apartment from 128,000 euros. For comparison: a nice stone house in the village of Saint-Leonard, Manche department, with magnificent sea views, two bedrooms and an annex, can now be bought for 147,000 euros.
Obviously, houses near the sea are more expensive. In turn, proximity to Paris also increases the price. Tricia Mason, director of VEF, explains: "As in other regions of France, properties located on the coast are about 30% more expensive. The relatively high prices are influenced by the proximity to the English Channel ports, as more and more Britons are buying property in this part of France. The most inexpensive real estate in Normandy can be found in the departments of Manche, Orne and some parts of Calvados. At the same time, the most favorable price-quality ratio can be found in the southern regions of these departments, far from the coast."
The company A House in Normandy has an offer for the sale of housing in Calvados. Here, a house with 3 bedrooms, a garden and a garage costs 137,350 euros. You can also buy a rural house in Pont Farsi with 4 bedrooms, with a small garden and a garage, for 119,500 euros, although the kitchen requires a little repair. In the Seine-Maritime department, Latitudes is selling a 2-bedroom villa with a garden, garage and cellar for 132,500 euros.
Chris Slade adds that near the coast, a potential buyer with a budget of 150,000 euros will have to put in a lot of effort and spend a lot of time to find suitable housing that does not require renovation. "Then we need to find a compromise. Either carry out any work, or look for a smaller house with a small garden," he advises. But Tricia Mason warns that restoration work can be expensive: "To modernize a historic property with a living area of 110 sq. m. We need to invest 60,000-100,000 euros for the work of local craftsmen." You can consider as an option a stone building for reconstruction in the Manche department with a garden and sea views for 80,800 euros.

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Elena Orunova
buy inexpensive house in the province of France
1 of Dec 2010, 10:35:47
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