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Favourites in stable France

1st October 2008 | back to article listings BACK    print this article PRINT

With the last few days seeing the nationalisation of Bradford & Bingley, the failure of the US government to get its finance sector bail-out plan through Congress and plummeting stock exchanges, politicians and leading bankers all over the world have been delivering statements of intent, promises of action and exhortations not to panic.

In France, however, such public pronouncements may not be so frequent. Specialist French property firm VEF has stated that across the channel from the land of bank nationalisation and base rate dilemmas, things are much calmer. Rather than heading rapidly for recession, it stated, France's economy is still growing. Its banks are safe because they have operated in a highly prudent manner, with not a hint of the sort of risky lending that has caused so much trouble elsewhere. In line with all this, the property market is stable.

What VEF described may have seemed to some in the recent past like a recipe for a mediocre investment. After all, the economic growth is not fast, house prices are not soaring and credit is not as easy to get as was the case elsewhere until the credit crunch. But this very fact may mean that now property in France is one of the safest and soundest investments around.

Indeed, this is exactly the point that VEF made, suggesting that the best properties of all to invest in are old stone buildings. This being the case, the firm said, the places to look are around the northern Dordogne and the southern Limousin regions.

As it happens, Limousin is one of the places tipped to be among the favourites for UK buyers in France this autumn. According to Sextant Properties, it is one of three particularly favoured regions, with the particular attributes of Limousin being its low prices and outstanding scenery, which the firm describes as "some of the most unspoilt countryside in Europe". It also notes that buyers have plenty of variety, choosing between rural hamlets and the historic city of Limoges.

Sextant added that Brittany and Languedoc are also favoured for their culture, food, lifestyle and scenery. For those looking for old stone buildings, the firm notes that Brittany properties include longeres, elongated stone properties with slate roofs.

With so much turmoil elsewhere, many buyers of overseas property may indeed look to France, where investors may be safer and lifestyle buyers will enjoy the scenery and culture. Those buying the sort of properties suggested by VEF will have something literally set in stone, unlike so much else at present.

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