Farmhouse prices in particular are dipping, especially those further away from main towns and cities. But old favourites like the Dordogne, Normandy and Brittany are holding well, says the report from SAFER, the French national land agency.
Over the last ten years, prices in the general market rose by 136%, while farmhouse properties saw a 178% increase in price – proof that these properties are still an excellent investment.
Industry experts say the latest figures show that it is a challenging time for the French property market. The coming months are likely to be good for buyers and less profitable for sellers.
'I believe that the French market prices have stabilised and that vendors in France are slowly realising this and are more willing to take an offer,' said Penny Zoldan, owner of Latitudes French Property Agents.
She also feels that uncertainty in Britain may encourage people to buy in France. 'I think the current financial state of affairs in the UK has very much been "talked up" by the press to make people feel more vulnerable and perhaps in this market it would be a safer bet to invest in French property which has always been more stable rather than put all your eggs into one basket.'
Some predict new hot spots emerging. According to Matthieu Cany of Sextant French Property Agents around Brive in the Corrèze department will see significant interest as they are building a new airport with a 2100m track which will be suitable for the Airbus A320 and Boeing 737. 'We think that very soon low-cost airlines will be able to land in Brive airport and that property price within one hour of Brive will increase dramatically,' he said.
Another little known area is the Yonne, in Burgundy, a district known for its poets, potters and picturesque landscapes. Olivier Aubin from l'Immobilière de Puisaye says prices start from €62,000 for a stone built farmhouse to renovate.
Gérard Guillot, president of the Burgundy FNIAM [federation of estate agents] says that the British are showing interest in the region and that 13% of all houses sold to foreigners in Burgundy last year were purchased by English-speaking people.
