Assetz® News - A second home in 'secret' France

A second home in 'secret' France

9th May 2005 |

You've raised your funds, you've decided on France and you're ready to go. Then you realise that the property in the south of France you have your heart on is out of your price range, and alternatives in the region aren't looking particularly affordable. Problem. Or perhaps not. According to recent trends a growing number of property investors looking to buy second homes in France are straying from typically popular areas such as Paris and the Cote d'Azur, instead venturing onto the road less travelled.

For many investors an up-and-coming hotspot is Mayenne in the north of France, offering quaint villages and French tradition a short way from the coast. Of particular appeal is the fact that Mayenne offers significantly more smaller properties than many other regions in France, making it a good destination for young buyers on a budget or anyone looking for something more conservative than a 14-bedroom mansion in the sun. A sizable proportion of available properties are well-restored cottages and chateaus, while the region also boasts a number of unrestored properties ideal for DIY enthusiasts.

Nearby, regions such as Rodez, Clermont-Ferrand and St Etienne are drawing attention from UK buyers on the basis that new low-cost air travel links have emerged, with Ryanair having established local airports. Accessibility being a key factor in property investment abroad, these regions can be expected to see a sharp boost in activity in the coming months. In this regard, improvements in travel links will bolster the local buy-to-let market as it becomes easier for holidaymakers or business professionals to access what have traditionally been the more remote areas of France. Coupled with relatively cheap property prices, a variety of new areas are set to rise to the forefront for those looking for bargain property investment opportunities.

Despite these benefits and the lure of an authentic piece of rural France investors are warned to avoid buying a property that needs more work than it's worth. Restoration jobs should be viewed with caution for the simple reason that the cost of making a ruin liveable could turn a modest investment into something far more expensive. Investors should also be sure to be abreast of future developments in local regions be it new roads, business expansions or transport cutbacks for example. This could be especially important for those hoping to venture into buy-to-let, as many factors can affect the level of demand for a property from holidaymakers looking for comfort and convenience as well as French charm.

For these reasons, destinations with an established pool of properties will remain most popular, with continued high demand in spite of relatively higher prices, but buyers could do well to at least investigate the not-so-beaten path and not miss out on a potential dream second home.