Lots of cheap property - why?
 

Hi all,
I've been looking at the French property market for a couple of years now - mainly down SW.
Recently been looking at Brittany and am wondering why there are so very many cheap properties in central Brittany.
Is there a mass transit out of the area?
Are the people that bought their properties many years ago suddenly popping their clogs?
Or is it that the weather climate is so naff that the prices here are much less than the SW of France.

just wondering...

Re: Lots of cheap property - why?
 

Hi Pondlife
There are several reasons why expats want to sell up.
When many expats retired with a UK pension pre-2008 they were getting
over €1.50 to the £1 and the cost of living was cheaper.
Today the cost of living has increased and you are lucky to get €1.15 to the £1.
That is about a 25% drop in available cash.
Also, there are fewer UK purchasers because of the financial crisis and because you get less house for your £s today.
The plus side is that even if you get less €s when you sell your French house you will exchange them for more £s than before.
In addition, many expats want to move back "home" for several reasons e.g. a spouse dies or other family ties mean a return to the UK or declining health of one partner.
Employment is very difficult in France just now and some French people may be re-location into larger towns to find work.
In France, especially in rural areas, houses take a long time to sell - 2 years is not unusual and if there is a lot of competition in the markets then the prices drop.
You have been looking for some time now and probably have a good handle on the market.
Good luck if you decide to proceed.

Re: Lots of cheap property - why?
 

Cyrian has pretty much nailed it. There isn't really a mass exodus as such, its just that so many want to sell up the only way to stand a chance is to sell cheap. Central Brittany was the most popular area for people who didn't have a pot of cash back in the day. My first house here cost £10k with 2 acres. I wasn't even looking to buy at the time but couldn't afford to pass it up. Those with plenty of cash tended to go for the better weather in Dordogneshire! Many bought thinking they would tart up and sell at a profit and move on. This tried and trusted formula just doesn't work in France. A house valuation here has more to do with where it is (near to amenities and work for instance) and a simple bedroom count. No amount of fashionable housey magazine trimmings will push a value much higher out of its normal valuation.

Re: Lots of cheap property - why?
 

Another reason is that some areas have become a victim of their success. Too many people have bought holiday homes which means that out of season there aren't enough people left to sustain the local economy, Consequently, those living there all year round decide to sell up as well. There is one commune in Brittany where all the houses are owned by Brits.

Re: Lots of cheap property - why?
 

We looked at an abundance of Brit owned houses and came across a few of them which had windows that opened outwards that clashed with the shutters and lots of twin and earth electrical cable in them. Fresh plasterboard can hide a lot of diy disasters imho it's better to start with your own blank canvas unless the previous owner can provide receipts from local artisans for the work.

Re: Lots of cheap property - why?
 

It's a bit like comparing prices in the Home Counties and the SE of England with prices in rural North Wales. The comparison is pointless really - different cultures, different economy, different opportunities, different lifestyle. If your heart is yearning for sunshine and swimming pools and vineyards and the Mediterranean lifestyle, Brittany will be no substitute. It would be interesting to compare where people come from and where they go to - do expats from the SE of England go to the SE of France? Certainly quite a lot of Welshies and Celts come to Brittany.

Re: Lots of cheap property - why?
 

I think that you can't discount the British relationship with bricks and mortar as a way of making money. I live in Sweden and whilst i would class the Swedes as being money obsessed and out to get you for a few sheckles at every opportunity, you would struggle to find incredibly nice properties above £300000 outside of the usual areas in Stockholm, Goteborg. In SE England thats a two up two down. In a big country like France, there are many properties that people don't really want to live in. Where 'we' see detached, the French see isolated. If you move in you might feel the same!

Re: Lots of cheap property - why?
 

i mean, come on...

http://www.rightmove.co.uk/property-...?premiumA=true

Re: Lots of cheap property - why?
 

...I own a property in Bristol - roughly 170k. My brother owns a property that is ever so slightly nicer in south east london - roughly 600k.

Re: Lots of cheap property - why?
 

Thanks for the info.
So a bit of everything I thought of. I needed to ask in case I was missing a trick.

Mike

Re: Lots of cheap property - why?
 

An absolutely heart felt "Hear Hear" to that.

When I remember some of the nightmares British bodgers left behind in houses we looked at. One of my favourites was taking a supporting wall out and putting a support beam in - SIDEWAYS! When it was plastered over you would never have known....

apart from the bow in the middle that is.

Re: Lots of cheap property - why?
 

I'm from Brighton (SE England) but moved to Cornwall 10 years ago.
We made the decision 2 years ago to move to SW France.
We've been delayed by one year due to two very bad ill health problems - which are now resolved. So now back on track.

The only reason we looked at Brittany (curiosity not really seriously) was because of the prices of the property and it's location close to ports to get back to Blighty occasionally to see daughter et al. As I say - curiosity, no more than that.

Re: Lots of cheap property - why?
 

Hi
If you have had very bad health problems, you should consider very carefully your healthcare situation should you live in France.
I understand that you said that these problems were resolved but healthcare issues are just as important when you are living in France as other things like property prices.
You can search this forum for information on healthcare.
It is a subject that has been fully covered already.

Re: Lots of cheap property - why?
 

It is chalk and cheese. I think what first attracted me to the Brittany/Normandy area was the Celtic connection - the folklore and the traditions and the sense of timelessness. And then I fell in love with the scenery and the space and the plain honest way of life, and after a while it dawned on me that this was somewhere where I felt happy and relaxed, and in tune with the people and the places, and I would feel at home here. Which I do. I go south for holidays and there are places there that I love to visit but I wouldn't want to live there all year round, they don't strike the same chord in me as l'Ouest.

Re: Lots of cheap property - why?
 

Both health issues were one offs and I have full private medical with the company I work for so things are OK on that front.
thanks for begin concerned