Property in France

Getting to know France

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France has long been popular with expats from around the world, with much to offer both property investors and holiday home owners alike. Known for the quality and favourable pace of life for those who live there, the character properties and low mortgages available, as well as the impressive healthcare and welfare systems, France is the third largest economy in Europe and offers a wide range of locations and properties for investment.

With its breadth of terrain and lifestyle, rich history and enviable culture, France holds enduring appeal as a destination for both holidaymakers and expats – as well as the odd commuter! The food and wine are world renowned and plentiful, there’s plenty to see and do (outdoors and indoors), beautiful countryside and coastline, mountains and ski resorts galore! Stylish shopping and fabulous markets are a key feature of French life, and part of the joy of day to day living.

Like many property markets in and around Europe, the French property market was badly hit by the late-Noughties financial crisis, and while French property wasn’t reduced to bargain basement prices (as seen in countries like Spain and Portugal), they generally remain well under UK averages. Many property buyers in France are from overseas: in 2016, 14% of buyers were from the UK and 20% of buyers were from Italy. The latest property market reports for 2017 French property sales list 958,000 annual sales of property in France to October 2017, which may turn in to a figure of one million French properties sold when the final year figures are verified. The areas with the biggest increases in property sales in 2017 were Bas-Rhin, Landes and Charente-Maritime, each seeing around 30% more property buyers than in the previous year. Find out more about what properties are selling in the most popular areas of France.

Fun facts about France

Covering an area of more than 551,000 square kilometres, France is the largest country in the EU, accounting for almost a fifth of the European Union’s total area.
Although French is the country’s official language, and the first language of 88 percent of the population, there are various indigenous regional dialects and languages, such as Alsacian, Basque, Breton, Catalan, Occitan and Flemish.
French is also the second most spoken mother tongue in Europe, after German, but is expected to become number one by 2025.
Paris Gare du Nord is easily Europe’s busiest railway station, with some 190 million passengers passing through each year.
France’s highest point, also the highest point in Europe, is Mont Blanc, standing at 4,807 metres high.
With around 80 million foreign tourists per year, France is the most visited country in the world and maintains the third-largest income in the world from tourism.
Europe’s largest canyon, the plunging Gorges du Verdon – also known as the Grand Canyon of Verdon – slices a 16-mile swathe through Provence’s limestone plateau.
The hottest temperature ever recorded in France was 44.1oC – in Conqueyrac, a commune in the Gard department of southern France (August 2003).
The coldest temperature ever recorded in France was -41.8oC – in Mouthe, a commune in the Doubs department, in a region of the Jura Mountains known – with good reason – as ‘Little Siberia.’

Deciding on your preferred location and property type

France is a diverse country, which offers something to suit every lifestyle and taste. From the bright lights of Paris – one of the world’s truly great cities – to the rolling countryside of the central regions; from the climate and idyllic lifestyle on offer in Southern France; to the stunning Alpine and Pyrenees mountain landscapes… quite simply, France has a location that will appeal to young families, retirees and everyone in between.

The advent of low-cost flights into regional airports over the past two decades has opened up areas of France that were once largely ignored by everyone, save the French themselves. This has led to substantial parts of the country where lifestyle costs are still very low; and where properties can be purchased at next to rock bottom prices – now being discovered by overseas property seekers.

Poitou-Charentes

With some areas in this region, such as La Rochelle, enjoying on average more than 2,400 hours of sunshine a year, it’s little surprise that Poitou-Charentes in the West of France has become such a sought-after destination among Brits. It is estimated that around 33 percent of the region’s total foreign population is British, many of whom are drawn to Poitou-Charentes, not only by its climate, but in search of a slice of traditional French rural life.

The pace of life in this region is still decidedly gentle and a relaxed lifestyle is almost a given. Boasting miles of sandy beaches along its Atlantic coastline as well as quaint seaside towns, and the ubiquitous rolling countryside inland for which France is famed, Poitou-Charentes is now the second most popular region in France for British expats. Aside from the aforementioned attractions, the introduction of widespread low-cost flights from British airports to Poitiers and Limoges has undoubtedly helped to boost the region’s appeal, as has the fact that Paris can be reached from La Rochelle in just under two hours via TGV (France’s high speed rail network). Aubeterre-sur-Dronn, Ruffec and Confolens also have particularly noticeable British expat communities. Property prices in the region are still low. According to the third quarter of 2016 figures, average property prices in Limoges were 139,300 Euros, while in Poitiers they were 166,000 Euros.

Midi-Pyrénées

With some areas in this region, such as La Rochelle, enjoying on average more than 2,400 hours of sunshine a year, it’s little surprise that Poitou-Charentes in the West of France has become such a sought-after destination among Brits. It is estimated that around 33 percent of the region’s total foreign population is British, many of whom are drawn to Poitou-Charentes, not only by its climate, but in search of a slice of traditional French rural life.

The pace of life in this region is still decidedly gentle and a relaxed lifestyle is almost a given. Boasting miles of sandy beaches along its Atlantic coastline as well as quaint seaside towns, and the ubiquitous rolling countryside inland for which France is famed, Poitou-Charentes is now the second most popular region in France for British expats. Aside from the aforementioned attractions, the introduction of widespread low-cost flights from British airports to Poitiers and Limoges has undoubtedly helped to boost the region’s appeal, as has the fact that Paris can be reached from La Rochelle in just under two hours via TGV (France’s high speed rail network). Aubeterre-sur-Dronn, Ruffec and Confolens also have particularly noticeable British expat communities. Property prices in the region are still low. According to the third quarter of 2016 figures, average property prices in Limoges were 139,300 Euros, while in Poitiers they were 166,000 Euros.

Rhône-Alpes

As the region’s name suggests, the Rhône-Alpes is a region dominated by the famous Alps mountain range. Bordering Italy and Switzerland to the East, the majority of expats who choose to settle here do so in the world renowned Alpine ski resorts of Courchevel, Meribel, Val d’Isere and Chamonix. Some of the country’s most extravagant properties (and property prices!) are to be found here. Perhaps for this reason, the region’s largest city (second only to Paris in terms of metropolitan area) Lyon, is also a popular spot for expats. Lyon is home to approximately a third of the total six million residents who live in the Rhône-Alpes region and is regarded as the epicentre of French gastronomy.

Other major towns in the region include St Etienne, Grenoble and Annecy. Aside from the Alps, the region is perhaps best known for the two rivers that flow through it – the Rhône and Saone – which both converge at Lyon. While the region is home to a similar number of British expats as the Midi-Pyrénées, here they tend to be focussed on the aforementioned resorts. Therefore, large swathes of the Rhône-Alpes (typically the non-mountainous parts) remain untouched by tourists and expats alike. Property prices in the region are among the most expensive in the country.

Paris

Paris is by far and away the country’s main expat hub. Around 40 percent of the country’s immigrant population resides in the Greater Paris region (known as Île-de-France) and figures from the National Institute for Statistics and Economic Studies estimate that almost one in five of Paris’s residents are immigrants. This includes approximately 21,000 British people. While one of the main reasons for Paris’s popularity is down to simple economic facts – this is where a majority of the country’s job opportunities are to be found – the capital’s well-deserved reputation as a cultural hotspot is also a major draw, particularly for international business people or well-off singletons.

Paris’s lifestyle benefits come at a price. The capital is easily the most expensive place to live in France (unless you want to join the really well-heeled in an exclusive Alpine mountain retreat) although the flip side to this is that salaries in the city are also far higher than those in other regions. Being a very international capital city, many other major languages are spoken widely throughout in addition to French. This is another reason that so many expats feel comfortable settling in, or at least close to, Paris. While property prices for the Île-de-France region as a whole don’t sound too bad (298,800 Euros towards the end of 2016) for a property in Paris itself, you would almost need to pay at least double this figure.

Map of France

Normandy

With some areas in this region, such as La Rochelle, enjoying on average more than 2,400 hours of sunshine a year, it’s little surprise that Poitou-Charentes in the West of France has become such a sought-after destination among Brits. It is estimated that around 33 percent of the region’s total foreign population is British, many of whom are drawn to Poitou-Charentes, not only by its climate, but in search of a slice of traditional French rural life.

The pace of life in this region is still decidedly gentle and a relaxed lifestyle is almost a given. Boasting miles of sandy beaches along its Atlantic coastline as well as quaint seaside towns, and the ubiquitous rolling countryside inland for which France is famed, Poitou-Charentes is now the second most popular region in France for British expats. Aside from the aforementioned attractions, the introduction of widespread low-cost flights from British airports to Poitiers and Limoges has undoubtedly helped to boost the region’s appeal, as has the fact that Paris can be reached from La Rochelle in just under two hours via TGV (France’s high speed rail network). Aubeterre-sur-Dronn, Ruffec and Confolens also have particularly noticeable British expat communities. Property prices in the region are still low. According to the third quarter of 2016 figures, average property prices in Limoges were 139,300 Euros, while in Poitiers they were 166,000 Euros.

Brittany

With some areas in this region, such as La Rochelle, enjoying on average more than 2,400 hours of sunshine a year, it’s little surprise that Poitou-Charentes in the West of France has become such a sought-after destination among Brits. It is estimated that around 33 percent of the region’s total foreign population is British, many of whom are drawn to Poitou-Charentes, not only by its climate, but in search of a slice of traditional French rural life.

The pace of life in this region is still decidedly gentle and a relaxed lifestyle is almost a given. Boasting miles of sandy beaches along its Atlantic coastline as well as quaint seaside towns, and the ubiquitous rolling countryside inland for which France is famed, Poitou-Charentes is now the second most popular region in France for British expats. Aside from the aforementioned attractions, the introduction of widespread low-cost flights from British airports to Poitiers and Limoges has undoubtedly helped to boost the region’s appeal, as has the fact that Paris can be reached from La Rochelle in just under two hours via TGV (France’s high speed rail network). Aubeterre-sur-Dronn, Ruffec and Confolens also have particularly noticeable British expat communities. Property prices in the region are still low. According to the third quarter of 2016 figures, average property prices in Limoges were 139,300 Euros, while in Poitiers they were 166,000 Euros.

Aquitaine

The South-Western region of Aquitaine is best known for being home to the Dordogne – a name as synonymous with British expats in France as the Costa del Sol is in Spain. Sometimes nicknamed (somewhat unfairly) ‘Dordogneshire’, there is little escaping the fact that it has a UK expatriate population without equal in France. Given the area’s warm climate, wonderful architecture, beautiful scenery and, until fairly recently, cheap property prices, it’s not at all hard to see the area’s appeal.

However, the Dordogne covers a huge area, and while some towns there may have British expat populations of around 10 percent or more, there are still plenty of villages and towns where there hardly any Brits at all. Average property prices in Bordeaux, the region’s largest city, are 287,500 Euros (third quarter 2016).

Provence

It was the Peter Mayle book, A Year in Provence, and its subsequent TV adaptation in the early 1990s, which was responsible for transforming rural Provence from a well-kept secret enjoyed by only a handful of British expats, into one of the most popular expat locations in France. Today, figures show that almost 12,000 Brits live in Provence. In spite of this, the region has managed to somehow retain a traditionally French feel. Located in the South East, Provence extends from the left bank of the lower Rhône River on the West, to the Italian border on the East, with the Mediterranean Sea to its south.

Overlooked by the dramatic mountains of the Alps, and dotted with unspoiled Medieval villages clustered among the olive groves, Provence is widely regarded as one of the most scenic areas of the country. The region is also home to the country’s second-largest city in terms of population, Marseille. It’s really not hard to see why Mayle’s memoirs of life in Provence struck a chord with so many. However, property prices in Provence do tend to be higher than those seen in many other regions of France. As of the third quarter of 2016, average property prices in the region were 313,000 Euros.

Investment Property

If you are eyeing a property purely for investment purposes, it may be worth investigating the Residence de Tourisme, or French Leaseback scheme. Leasebacks are fairly common in areas popular with tourists, particularly ski resorts. Through this scheme, you will be allowed access to your property for a limited period each year (usually a few weeks, out of peak season) while the rest of the time it will be let to tenants. By signing for a French leaseback scheme, you become the freehold owner of a furnished property. The length of the leaseback is usually between 9 and 11 years (renewable). You are usually guaranteed around a 5 percent net annual return on your property, and it will be cared for by a dedicated management agency. You will also be entitled to get the VAT back on your purchase as it can be paid and reclaimed by the developer in which case you will pay less than you would for a similar type of property. Find out more about investment property in France.

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