THEFrench overseas market is always viewed as somewhat apart from the rest of Europe . . . not unlike how the French perhaps see themselves. It seems the Irish have become a bit different too, particularly when it comes to investing in property in the ultra fashionable Cote d'Azur and historic Provence, where we now surpass English buyers in numbers per capita.
With that increased demand, prices have obviously gone up, particularly in coastal areas, and especially the French Riviera, which has some of the highest property prices in the world. As in Ireland, prices are appreciating rapidly, having risen by as much as 100% in some regions in the past five years. A rough starting price for a house in the Provence/Riviera region is 400,000. The French, generally, like to buy new homes, which means there are lovely old stone farmhouses and villas needing renovation for the romantically minded overseas buyers, and there is still the odd bargain if you venture beyond the fashionable spots, especially inland.
Like everything to do with France, it's vive la difference too with regard to actually purchasing a property. This procedure is strictly controlled and regulated. When an offer is made at the asking price, then the seller is legally bound to accept it. Purchase fees can be up to 10% or 15% of the price, and older properties are always subject to higher fees.
David Stanley, of family-run agency Emile Garcin which has 10 offices throughout France, says now that Irish airlines have opened in so many new French destinations, the appeal of the country for buyers has increased dramatically. The company specialises in the type of characterful, dream homes beloved of the true Francophile, all over the country, but particularly in southern regions from Biarritz to Uzes and from the Luberon to Mougins. "We have everything from hamlet houses to chateaux and vineyards, all exclusive to us as we don't 'cobroker' properties. Buyers tend to buy a home in France for sole use only, so we see very little of the investor market."
TWO FOR FRANCOPHILES
BUILT with local stone and using traditional tiled roof and painted shutters, this 18th century hamlet house at Luberon enjoys an elevated position with views over a picturesque village. It is two kms from most amenities. This is a tranquil location, quiet without being isolated and within 30 minutes drive of Avignon and 45 minutes from the Marseille-Provence airport.
Accommodation extends to 180sq m and consists of the entrance hall, kitchen, livingroom with "replace, bathroom, toilet and boilerroom at ground "oor level; upstairs are four bedrooms, one with a showerroom, all of which bene"t from beautiful clear views. The property also comes with a garage and outhouse with covered terrace overlooking the vineyard and valley, while there is the possibility to install a swimming pool in the garden, which is enclosed by local stone walls.
Price: 500,000
ALSO on the Emile Garcin books is an 18th century chartreuse. The Perigord region is de"ned by its 18th century architecture and this chartreuse is a perfect example of it. The house is built on high vaulted cellars, lined by an elevated terrace treated as a barrel vault. On the western angle is an adjoining tower. Accommodation extends to some 465sq m of living space including "ve bedrooms. One hectare of land is enclosed with stone walls and the property comes with a swimming pool. Price 1.56m
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