Property sales have dried up, due to a few minor factors. The pound has reduced against the euro by about 20% and yes the banks have stopped giving mortgages.
At the same time though, property prices have reduced in the Roussillon by between 15 and 20 percent, so there is a rough net balance for your money.
Also, if you can get a mortgage (yes it is possible) then interest rates have never been lower. We even know of a bank that is actively trying to increase its property portfolio and is therefore offering some very competitive rates. So maybe now is the time to make the most of the property market !!!!!!!!!!
The long term rental market has definitely seen an increase over the last couple of years, there seem to be three main reasons for this.
- More and more people, who can, are escaping the damp grey winters of the UK, so the winter market has been strong.
- More people seem to be happy to move to this area of France and take out a long term rental of 3 years +
- and then there is the fastest growing market, these are the people who are looking to buy, have made their decision to move to France but want to test drive the region whilst they look for their dream home in the sun.
So what to do.... In my humble opinion If you have made the decision to move to France, then there is no better time to move than now!
- You can rent whilst you look and maybe wait for the £ to improve. Be warned though, as the £ improves, the price of houses will soon go up as well. There are some great mortgage deals (if you can get them) and property price reductions have negated the reduction of the pound.
- Find an Estate agent in the area you want to move to that can also act as a search agent. They can then introduce you to any properties in the area, even if it is not on their own books. You will receive a more personal service and have far more chance of finding the right property, whilst being helped through the french legal system.
- This market situation does also give an opportunity for property owners, to maximise rentals throughout the year by opening up the property to winter lets.
- It may also be an opportunity if you are trying to sell your house and it just isn't shifting. Place it on a long term rental site, if you get a good long term rental, take it off the market and wait until things get better but with your overheads being covered......
Here are some contacts to help with your property needs
Property Rentals - Ceret Property
Property Owners - Advertise
Property Sales - Rivirera Home Finders
Mortgages - Contact Us
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