2007 saw a sobering of the rampant market of the previous few years with prices stabilising. This meant that well priced properties did sell but there was, and continues to be, a glut of overpriced property on the market.
Let’s start with the bad news affecting the property market this year - a less than buoyant French economy, high unemployment, rising interest rates and French concerns about their spending power. Like it or not, British buyers have a huge effect on the market in the Pyrénées-Orientales and they are facing a weak pound against the euro and unease about the state of the property market in the UK. This has undoubtedly affected the lower end of the market with fewer people seeking a small holiday home.
It is however not all doom and gloom for 2008 – there are some positive factors influencing the current market in France. These include low interest rates compared to the UK and measures introduced by Sarkozy to encourage entry into the property market for first time buyers. In addition, where the Brits are concerned, there are more buyers with higher budgets looking to relocate permanently, and of course, those lucky souls rich enough not to be concerned with trifles such as interest and exchange rates!
Here at Med & Mountain we continue to have strong interest from buyers but they are calling the shots and can take their pick from a large number of properties. For sellers to make theirs stand out, it either has to be of exceptional quality, or well priced, and preferably both! If you want to sell, you’d be wise to take this on board. We recently sold a maison de village which had been languishing on the market for a year or so – as soon as the vendor dropped the price it became a bargain and was snapped up.
If you are looking to sell in 2008, now is a good time to start marketing your property. Lots of buyers take advantage of a new year to fulfil long-held dreams of owning a property in France and want to be in for the summer. If you’re looking to buy or sell in 2008, please give us a call. We are a friendly, family-run company, registered and based in Perpignan, who are always ready to help.
Mark and Louise Sayers
1, rue St François de Paule, 66000 Perpignan
Phone: 04 68 56 54 22 Mobile: 06 12 29 52 59
info@medandmountain.com
