I took the Friday couple to see a large farmhouse with barn and a hectare (10 000 metres) of land. The house is typical of the local properties in that it is absolutely charming on the outside and rather plain on the inside. The owners had spread grey spiky rendering with liberal abandon over every single ground floor wall plus the stairwell, just for good measure. Fortunately the clients were too taken with the large rooms and beams and fireplaces to take too much notice of the walls. Rather large lorries rumbled past and I started to fear that they were going to go the way of all the previous clients I had taken around and say that the road was too busy. We looked around the barn which is very tall and whose walls are made of stone from the local river (Gave de Pau). We then looked at the rented side apartment and discovered that there was an additional room on the first floor that was not noted in the details.

It was all going well. We went down to the end of the garden and admired the ancient woodland. A hunting dog shot past and a gun was fired. The small and very lively girl who was with my clients took umbrage. She was nearly four, very tall, and had vibrant red hair. Her lips were quivering ‘they are evil people. They kill animals. I am going to tell them to push off’. The parents laughed a lot and the small girl ran off into the undergrowth, brandishing a stick and hurling abuse at the hunters.

We returned to the office where, to my immense surprise, they made a reasonable offer and it was accepted. ‘There probably isn’t so much traffic at night-time’ they said….

On Saturday morning, I met a young couple and took them to see a 1960’s bungalow on an estate in central Orthez. It backs onto a very large social housing project and is in need of quite a lot of tlc. They didn’t like it. I produced a key from my pocket and told them I had a surprise house. This didn’t go down as well with them as it usually does with my English clients, however, they grudgingly climbed back into the car and we went to see another unprepossessing 1960’s bungalow in a better part of town.
‘Bouf’ said the young woman ‘we saw this one with Laforet Immobilier. It is too expensive. Also we saw it on the Bon Coin (free ads) at a much lower price’. Her boyfriend was hovering by the gate so I asked him if he wanted to go in. It was after all, his money and would be his house. He said that they could have another quick look. We were there an hour and a half and they made an offer at the price they had seen in the free ad. Kerching and another sale in the bag.

I raced back home and had some toast and a cup of tea and put my legs up for 20 minutes. The next visit was with a retired couple who I had also taken to the first 1960’s bungalow and also hadn’t liked it. ‘Actually,’ they said ‘we would like something in the countryside with no neighbours’. I mentally reviewed the stock and came up with a 1960’s house which is the most stunning rural setting with panoramic views of the Pyrenees. It was above budget. The electricity, windows and heating needed replacing. The garden was sloping and the septic tank was not ‘aux normes’. It was however the only property that fitted the bill. I was hoping that they would be so taken with the view and lack of neighbours that they would overlook the fact that the house is actually rather ugly. They absolutely loved it and made an offer which was snapped up immediately.

I rang my boss and said, actually, I might have to stop on a bit longer because I had three accepted offers and needed to get the paperwork together. In order to sell a property in France, there are various documents which are necessary in order that the potential purchasers are aware of the condition of the property which they are buying:

1. Diagnostic reports: lead, asbestos, termites, electricity, gas, green house gases/thermal efficiency.

2. Report on the state of the fosse septic – it is normal in this area for any property which is on the perimeter of a town or in the countryside, to be on septic tank. We usually also supply a quote so that the potential purchaser
can see the cost of getting the fosse up to current acceptable conditions.

I dived back into the office on Monday, much to the surprise of my colleagues, to tell them the good news. I discovered that a former client had come back and had finally offered on a little Orthez house and also a friend of our secretary was interested in buying a farmhouse which I had just bought to market.

So five sales in as many weeks. In 2009 my black year, I didn’t make that many sales in the whole period.

On the weather front, February has been bitterly cold, with the temperature barely creeping above zero for a fortnight and down to -10 at night-time. We have single glazing and the first floor heating is by electric radiators so we doubled up the duvets and worn socks, hats and dug out the hot water bottles. The water for the kitchen comes from the well and the pump froze up. It is still not giving water and is making a funny raspberry noise. I am afraid to call the plumber because his bill will not be funny at all if the pipes have cracked. They are under the patio which my husband and son sealed with concrete grouting last year….

2, 3, 4 pièces 2, 3 or 4 rooms (plus kitchen and bathroom)
maison 4 pièces 4 roomed house plus kitchen and bathroom
T1, T2, F1, F2 etc. Technically, an apartment (T) or house (F) with the specified number of rooms (pièces), not including kitchen or bathroom(s), although you can find T being used for houses and F for apartments too.
Example: F2 (maison deux-pièces) = one-bedroom apartment
Example: T2 (appartement deux-pièces) = one-bedroom apartment
à rafraichir to be redone / needs decorating
ancien (anc.) old building (built more than 20 years ago)
année de la construction year built
appartement meublé à louer furnished flat/apartment to rent
appartement à vendre apartment for sale
arrondissement (arr) district/borough
ascenseur (asc) lift
assurance habitation home insurance
balcon (blc) balcony
buanderie utility room/laundry room
belles prestations attractive/ quality fittings/fixtures
box covered parking space
branchement lave-linge washing machine outlet
bureau(x) office(s)
cabanon shed / stone building with a roof on it (local usage)
calme quiet
caution damage deposit (rental property)
cave cellar
cellier storeroom/still room
+ charges rental price excludes building charges / outgoings
chambre (ch, chbr) bedroom
charges comprises (cc) including building charges / outgoings
charges locatives service and maintenance fees for collective amenities
chauffage collectif (shared) heating included in building charges
chauffage au gaz gas heating
chauffage au mazout oil heating
cheminée fireplace
concierge/gardien superintendent/caretaker
copropriété shared property (apartments)
coin cuisine breakfast nook / kitchenette
commerce commercial space/shop
cuisine (cuis) kitchen
cuisine americaine open-plan kitchen
cuisine équipée equipped kitchen
cuisine aménagée fitted kitchen
de plain pied single storey/bungalow
dépendances outbuildings
dépot de garantie rental deposit
digicode security door (lock) keypad/keycode
dossier de candidature rental application form
douche (dche) shower
en 3 niveaux 3 storey
en bon état in good condition/repair
entrée (ent) entry
étage (et.) floor
état des lieux condition of property report completed on moving in and referred to on leaving
exclusivité available with this agent only / sole agency
exposé sud south facing
frais d’agence inclus (FAI) inclusive of agency fees
frais de Notaire notary’s fees
garage (gge)/box garage
gardien (gard) caretaker
Genoise(s) the layer of roof tiles as seen from the edge. The more layers the better
hauteur sous plafond (HSP) ceiling height
honoraires d’agence agency fees
immeuble (imm) building or residence
immobilier real estate
jardin (jard.) garden
jumelé semi-detached
largeur (larg.) width
logement meublé furnished rental or property
logement vide unfurnished rental or property
longère agglomeration of buildings in a line, normally only 6 metres deep (typical to Brittany)
loyer rent
maison d’amis separate guest house
maison meublé à louer furnished house to rent
mazet (or maset) separate cottage (usually the original on the land)
meublé/équipé furnished
neuf all-new construction
nombre de pieces total number of rooms including reception and bedrooms
nombreux (nbx) many
parking parking place included
penderies wardrobe, hanging closet
pièce (p) room
pierre de taille (pdt) stone building (dressed stone)
placards built-in cupboards/wall cupboards
porte (pte ) door
préavis notice period (period to give notice of intent to vacate premises)
prix (px ) price
quartier (quart) district/neighbourhood
rangements built-in cupboards / storage spaces
récent built in the last decade
résidence (rés) building
restanques terraced land usually with drystone walls
rez de chaussée (RDC/rdc) ground floor
rez de jardin
(RDJ/rdj) ground floor
salle de bain (sdb) bathroom
salle de bains (baignoire) bathroom with bath
salle de douche shower
salle d’eau (s.d’eau) washroom with shower
salle à manger (sàm) dining room
salle de séjour (séj ss) living room
sans vis-a-vis not overlooked
séjour (séj) lounge/sitting room
séparé (sép.) separated
sous-sol (s.sol, s/s) basement
sous terrain (s/terrain) below ground level
standing (std) quality / luxury building
sur terrain de… property size (literally, “on a plot of…”)
superficie totale total floor space
surface habitable (SH) total living space (a legal term defining habitable space, which excludes floor areas where the ceiling is below 1.8 metres)
terrasse terrace, paved exterior area, large balcony
très bon état (TBE) in good repair
tout confort (tt cft.) well equipped
vue imprenable superb view / unobstructed view
WC séparées separate toilet

LOCATION
Aquitaine, Landes, near Hagetmau

ACCOMMODATION
Number of rooms 6

Number of bedrooms 3 

GROUND FLOOR

Dining room/kitchen  33.80m²
Living room with beams and fireplace 54.23

Large bathroom with shower and bath  11.16m²
wc with handbasin  5.94m²

Office with French doors and access to garden (my type of office!)  15.58m²

Cellar with airconditioned wine area  11m²

FIRST FLOOR

Bedroom 18.45m²

Bedroom 17.82m²

Bedroom  15.45m²

Large loft area available for creation of further living spaces  50m²

Barn  94.25m² (mezzanine area inside)

Garage  58.50m²

Swimming Pool 5 x 10 metres with liner and tiled surrounds

Construction

 Drainage Fosse Septic

General condition Good
Heating : Gas central heating – buried gas tank

2011 has undoubtedly been a turbulent year in the financial markets which have had an impact on many people’s decisions as to whether or not they will proceed with their dream purchase in France. However, uncertainty and austerity in the UK as well as low returns from saving accounts has also ensured that many people are deciding not to wait any longer before making a commitment.

Despite a challenging year in 2011, many potential French property buyers have been carrying out their research and are waiting on the sidelines, ready to make their move once they feel the storm clouds are clearing.

In times of financial stress, property is an asset class that many people turn to in uncertain times. Property is tangible, familiar and in the case of France, allows you to enjoy lazy days enjoying the sunshine in Provence or the fresh powder in the Alps!

Here we are going to look at some of the trends International Private Finance believes may affect the French property market and interest in French property, particularly in terms of International buyers during the coming 12 months.

Eurozone interest rates – at the beginning of 2011 the Eurozone base rate was at 1.00%. Concerns over inflation ensured that the ECB made two quarter point (0.25%) interest rises in April and July respectively. One of these increases has already been reversed with further cuts being cipated by the markets for December’s ECB rates decision.

We believe the outlook for growth and inflation in the Eurozone during 2012 gives further opportunities for ECB rate cuts going forward.

French mortgage rates – the interest rate you pay on your French mortgage is influenced by two factors; base rates in the Eurozone and the costs associated with banks raising funds in the money markets.

The recent financial turmoil has increased the associated cost of risk premium and the costs for French banks to raise funds in the money markets. This has resulted in some French mortgage rates increasing recently, despite the base rate being cut in November.

If Eurozone politicians can start moving towards a sustainable solution to the debt crisis thereby calming financial markets, we expect to see the costs associated with raising money to fall accordingly. This, coupled with a falling base rate in the Eurozone should ensure that French mortgage rates challenge historic lows during 2012.

Exchange rates – growth in the Eurozone is likely to be impacted by the recent challenges and many market commentators expect the Euro to weaken against Sterling in the short to medium term. Any weakening in the Euro exchange rate is likely to stimulate demand from international buyers who are looking to purchase their dream second home in France. This is likely to mirror similar trends seen in areas of the UK property market that have been popular with International buyers since Sterling started depreciating in 2008. To mirror this scenario entirely investors this is all subject to the Eurozone governments restoring confidence in owning Euro denominated assets.

Economic growth – headlines in the financial pages have recently been dominated by challenges in the Eurozone. Meanwhile the economic data coming out of the US over the past two months has been consistently better than expected. While the US economy faces many challenges, consumers in North America will hold a big say in how quickly the American (and World economies) recover in the coming years. US consumers provide the demand required for companies in China and other Asian economies to prosper.

Confidence is a huge factor amid current economic concerns and a change in mood cannot be underestimated in terms of the positive effect it could have.

Minimising your currency exposure – Fluctuating exchange rates have highlighted the potential risks associated with using Sterling or US dollar assets or debt to finance the purchase of a property in the Eurozone. Depending on your expectations for the future direction of exchange rates, using a Euro denominated mortgage to finance part of the purchase price will could significantly reduce the sterling cost of purchasing your French property.

Many savvy buyers who have the sterling funds to complete the purchase are taking out a flexible French mortgage, in Euros, with a view to paying this off when the Sterling/Euro exchange rate moves in their favor – as many industry commentators agree is likely in the short to medium term.

A resolution to the European (and US) debt issues, record low French mortgage rates, a depreciating Euro exchange rate, green shots of recovery in the global economy and a stable property market in France could provide the perfect environment for would-be International buyers of French property during 2012. The key will be which and what combination of these scenarios materializes during the course of the year.

anti

In the heart of a typical béarnaise village, you will find this imposing 19th century béarnaise country
property with its lovely garden and period features. The village contains a restaurant whose speciality is angouilles (eels), there is a boulangerie within one kilometer and lovely walks and fishing opportunities
in the local river (Gave d’Oloron) which is a class one salmon and trout fishing river. The last time I was enjoying a Sunday lunch near the river, I was lucky enough to see kingfishers flashing along the river bank. An ideal place to get away from it all, whilst not being isolated. The Basque coast and the mountains are just an hour’s drive away. If you want to pop over to Spain, it is just over an hour away!

According to Joseph Stiglitz, Nobel professor of Economics, a property bubble is “a state of the market in which the only reason for today’s prices is that the investors think that property prices will continue to rise, while the basic factors do not seem to justify such actions”.

In the words of the French government’s Centre of Strategic Analysis,

“the hypothesis of an overvaluation of the real estate goods is unfounded”

They commented that explanations given to justify the price hikes, notably the rarity of properties available to purchase, is incorrect, since

“over the 25 last years, the number of lodgings increased more quickly than the population”

The number of lodgements increased by 30% between 1984 and 2008, passing from 25.5 million to a little more than 32 million, against an increase of just over 13 % for the population in general. There was a comparatively moderate growth of the rents during the same period which:

“contradict the hypothesis of a generalized scarcity of lodgings : if there was a lack of available lodgings, then this would have resulted in significant rises in rental values”.

What about the scarcity of reasonably priced housing in the most desirable areas? They acknowledge that this factor has contributed to the increase, but state that this factor can only explain part of the reason of why the prices have grown so significantly over the period.

One factor likely to restrain future price hikes is the disparity between property prices and average household income (up 42% on average over the 12 year period) meaning that many French people are obliged to stay in rented property. The new rise in the Euro loan rate again conspires against movement in the housing market and puts even greater barricades in front of people hoping to purchase their first property.

The proponents of the bubble hypothesis claim that it has been perpetuated by: –

Favourable tax measures designed to enable people to climb onto the property ladder e.g. prêt a taux zero:
Lending conditions which encouraged people to borrow more than they could reasonably afford.
People who buy and then inflate the property price on resale in order to finance their next property (I sense a dig at the foreign investors here)

For others, there is no property bubble because the price increases are not of a speculative nature:

“Our experience is that the market is not speculative and, in general, people buy for the long term”, declared Laurent Vimont, president of Century 21 France.

John Philippe Cutter, director of the INSEE (Institut national de la statistique et des etudes economiques), remarks that the very high prices of lodgings does not necessarily sign imbalance. According to him, a brutal reversal is excluded:

“the last decade has not been one which has seen an explosion of debt within the average French household”

He goes on to say that the average French household debt remains the one of the lowest ones of the countries of the OEDC,

“The economic sector relating to housing remains stable in France, in comparison to the British and Spanish” he notes “and the investment rate in the construction industry appears comparatively modest over a long period”

So, is France a good place to buy? My experience, based on the past seven years, is that property prices in the area where I live and work have continued to rise steadily. Demand has remained steady for properties under 150 000 euros – especially ones with gardens/garages. For any prospective purchaser, I would say that you should not make the mistake of thinking that you can turn a quick profit – the recent ‘plus value’ hike has effectively put paid to that, but you can put your cash in a property which should accumulate value steadily. And in these economically uncertain times, that is more than half good.

On the first floor, you have two bedrooms, one of which has the most wonderful uninterrupted views of the Pyrenees. Both rooms have beautiful original parquet floors, fireplaces and beams. There is a new bathroom featuring a free standing claw footed bath.

On the second floor, you have a further two bedrooms and a shower room.

The property is ideally situated for those looking for a lock up and leave property. There is a small terrace in front of the house where you can put a table and chairs and enjoy the views and say hello to the passers-by.

The town of Sauveterre de Bearn itself has a weekly market and all the shops you need on a day to day basis. The nearest railway station is 20 minutes away and offers local services plus a direct TGV to Paris. Airports are to be found at Pau, Biarritz, Tarbes, Bordeaux and Toulouse and serve all parts of the United Kingdom.

LOCATION
Aquitaine, Pyrénées Atlantiques, Ville Sauveterre de Bearn

ACCOMMODATION
Number of rooms 7

Number of bedrooms 4 

GROUND FLOOR

Dining room/kitchen  35.13m²
Living room with beams and fireplace 26.98

Entree 2.1m²
wc with handbasin 2.25

FIRST FLOOR

Bedroom 28.18m² (includes dressing room) fireplace and stunning views of Pyrenees
Bedroom 18.60m²
Bathroom 12.38m² claw footed freestanding bath with shower over, handbasin and wc

SECOND FLOOR
Bedroom 21.94m² with open fireplace and cupboards
Shower room 3.13m²
Bedroom  27.39m²
Storage space with mezzanine 8.59m²

Construction Drainage Mains

General condition Good
Works recently carried out: rewiring/kitchen, bathrooms, decoration

Heating Electric
 

Taxes Tax fonciere 550€

18th century town house in the centre of the medieval thermal town of Salies de Bearn. On the ground floor you have living room and kitchen. On the first floor you have two bedrooms and a shower room and on the third floor a bedroom and shower room. There is a large fireplace and the owners have exposed the stonework to show its beauty and authenticity.

The house is in a cobbled back street and ideally placed for those looking for a lock up and leave property. This would also rent out really well all year round. Salies is a very lively town and has many festivals especially during the summer months. For the rest of the year, the town can offer many bars and restaurants, a casino, golf course, thermal baths, tennis club and beautiful country walks. The beaches and the mountains are within an hour to an hour and a quarter distance.