CountrylassAnne Posted June 3, 2005 Share Posted June 3, 2005 I'm very interested in what is happening to property prices in France, it seems to be becoming general knowledge that it's getting more difficult to sell property.Not wishing to be left in the dark, I've been reading a French forum and have been very enlightened. It seems that more and more French can no longer afford the prices and some are selling up in order to repay debts, and moving in with other family members.I came across this graph:http://orgues.club.fr/PrixImmobilier.pdfWhat does anybody think happens next!!?? Link to comment Share on other sites More sharing options...
moon Posted June 3, 2005 Share Posted June 3, 2005 A lot of english targeting immobiliers will go bust............. Link to comment Share on other sites More sharing options...
Teamedup Posted June 3, 2005 Share Posted June 3, 2005 It seems that more and more French can no longer afford the prices and some are selling up in order to repay debts, and moving in with other family members.I couldn't open the link......... who are the some who need to repay debts. Link to comment Share on other sites More sharing options...
moon Posted June 3, 2005 Share Posted June 3, 2005 The link just opens up a PDF document (so you need acrobat reader installed) showing a graph of property price rises. It shows huge increase all over france in past 5 years. Link to comment Share on other sites More sharing options...
Teamedup Posted June 3, 2005 Share Posted June 3, 2005 I'm having all sorts of puter problems at the moment and can't use acrobat reader at all. All needs disinstalling and starting again and I haven't the courage to do it. Thanks for the info. Link to comment Share on other sites More sharing options...
Val_2 Posted June 3, 2005 Share Posted June 3, 2005 And......previously unheard of here, 30-year mortgages now for those trying hard to buy a property especially in expensive regions. Noticed today that there are lots of houses for sale again that are just not moving because the vendors are asking too much for the type of salaries paid here. Link to comment Share on other sites More sharing options...
Tourangelle Posted June 3, 2005 Share Posted June 3, 2005 In Le Monde last weekend there was a lengthy article explaining that rents were going down in medium sized towns because owners were simply getting no takers. What is the future for house purchasing, will the prices fall, or will people take out larger mortgages? A friend of mine who works for Crédit Mutuelle was telling me that although the bank will do these longer mortgages it is not something they wish to see happening. Link to comment Share on other sites More sharing options...
CountrylassAnne Posted June 3, 2005 Author Share Posted June 3, 2005 In the French forum which I've been reading (it has over 500 members from all over France), the majority of people are in agreement that prices have reached a peak and they can only descend from now onwards, in fact that is what they're hoping for. This link to a report published by the Banque Populaire bears out their sentiment:http://www.banquepopulaire.fr/actualite/marches/mar050329.htmThey are obviously concerned that wages haven't risen anywhere near as much as property prices. The bank is also concerned that the situation now is very, very similar to just before the last 'crash' in the early 1990's, only worse!TU - it states in this report that some French who are heavily in-debt are having to sell-up in order to repay their dues. I've met at least 2 English families who've recently bought houses in France, and the owners were moving in with relatives and feeling very wealthy!Oh well, we'll just have to keep our French house a little longer.......now where was that phone number for Chris Tarrant.....................................! Link to comment Share on other sites More sharing options...
Teamedup Posted June 4, 2005 Share Posted June 4, 2005 Thanks I wasn't quite sure who the 'some' were. That makes sense. Our first neighbours had their home taken away from them, these things happen in spite of it seemingly being so hard to get loans in the first place. Link to comment Share on other sites More sharing options...
letrangere Posted June 4, 2005 Share Posted June 4, 2005 Good friends of ours (French) are toying with selling their Bordeaux apartment now that the children have left home and buying a good sized property in 24 for the holidays and family reunions. They've been out several times with Sarlat based immobiliers but have been horrified by asking prices locally. Despite their generous budget, they're now saying they're going to wait until next winter before looking again, convinced that prices will drop. As he says, "they have to". They also commented that as usual French sellers were quite happy to sit it out and wait but that one or two British owners they met were keen to sell up quickly. M Link to comment Share on other sites More sharing options...
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