French property market: A buyer’s strategy for 2013
Quite unlike its next door neighbour Spain or even the colossus’s United States, an excess of supply does not affect the French property market.
Consequently, as of today – with the exception of some undesirable inner city areas – all properties can be sold relatively quickly, provided that is your pricing is accurate and that you have adopted the right strategy in terms of its marketing.
Regarding marketing accuracy, these three points are somewhat fundamental:
• a fair analysis of the local market prices and its trends
• have a professional estimate the property
• a realistic view of the property’s actual condition
Ten buyers’ tips for 2013:
1. Don’t expect prices to drop sharply, they did not in 2012 and will probably not in 2013, so don’t procrastinate.
2. Remember: Limited availability and quality of properties for sale will maintain property prices.
3. Should fall in prices take place, it will conversely result in higher loan rates, which could hinder your ability to purchase.
4. Quality properties will always command a keen price.
5. If an owner is forced to sell for family or professional reasons, it may be possible to negotiate.
6. With the exception of investments, generally people buy a property to live in. Therefore, buyers should choose according to these three criteria’s:
o The location (town, close to shops, transport, schools …)
o The property type (apartment, house, room, amenities …)
o The condition of the property and its environment (buildings, condominiums …)
7. Before you find a home, it may also be prudent to enquire about a loan and its terms and conditions, you may find banks are adopting a more flexible approach than a year ago.
8. In the case of buying resale property, contact an Avocat for assistance with all legal and cadastres matters.
9. To avoid future misunderstandings/disappointments seek professional advice on current fiscal conditions (taxation, capital gains etc …)
10. Have an open mind and with some patience, you will find that something special!
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Tags: french property market
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