Competition from local buyers
In November 2017 we reported the French property price statistics from National Institue for Stastical and Economic Studies showing that French house prices rose by 2.9% during the first quarter of 2017. This was the 5th consecutive quarter of year-on-year price increases. French property price increases are now standing at the highest level since the end of 2011. In addition, FNAIM, the professional body for French estate agents, is forecasting house price increases of between 3 and 5% in France during 2018. This increase being fuelled largely by historically low French mortgage rates which is causing an increase in sales to locals buying French property.
This morning we received the following comment from one of our partner French estate agents in Midi-Pyrénées which indicates that the French property market is definitely more lively than it has been for years.
“It is true that last year saw an increased demand with local clients who are now rivalling the British buyers for such properties, something which was previously much rarer, so foreign buyers will need to get a move on to avoid disappointment as the market begins to move again after such a long period of relative calm and such keen prices.”
It looks a though foreign buyers are no longer going to have the French property market to themselves. In addition we believe there will be a greater interest in buying a French property from U.K. buyers who are intending to move to France full time. Buying a property in 2018 for full time French residence is going to guarantee continuing French healthcare rights which is often an important issue for U.K. buyers. So, it looks as though the French property market is going to hot-up in 2018.
Buy a house in Haute-Garonne in 2018
It is our partner agent in Haute-Garonne who warned us of the increase in local property buyers which is not surprising. Haute-Garonne is one of the most exciting of the eight departments of the original Midi-Pyrenees which is why, at Healey Fox, we have chosen to focus most of our properties in this department. Haute-Garonne is situated in the centre of the whole region and stretches right down to the Spanish border providing all the variety that the whole department has to offer. Undulating hills in the north stretch south to the high mountain peaks of the Pyrenees on the Spanish border and at the heart of the region is the world famous UNESCO Canal du Midi.
The Healey Fox partner office, in the medieval village of Aurignac, is situated pretty much in the centre of Haute-Garonne, being only one hour’s drive from Toulouse to the north and one hour’s drive to the Spanish border. This location really allows you to enjoy the undulating hills of the immediate vicinity whilst having the mountains of the Pyrenees close enough for a day trip. There are even four ski resorts in the Haute Garonne so not only can you luxuriate in long, warm, sunny days in the summer, you can also access winter skiing!