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Guest redwine
A friend who works for an agence immo tells me that the Russians are still buying at the top of the market on the Cote d'Azur. Unlike 3 years ago when they turned up and bought within the hour, they are now negotiating hard. 20-30% reductions are the starting point on villas costing between 5M-20M euros. And it's taking weeks or months for them to sign.

Ah the Russians the rich foreign buyer another french property myth

In the 1990's it was the japanese that were buying up Paris they melted away and were forgotten about

Then came the British buying up all the old barns in rural france started late 90's early 2000's

Now they are leaving so the french have "invented "the russians

I heard that they are on the Cote d'Azur but they are not far from here as well the Alpes

They have bought Courcheval with its rich palace style chalets the top richman's ski-station

Or so the media says its not a few rich russians that are going to get the french housing market back on its feet

The foreign house buyers in France account for less than 1% of all property sold in France

Once the russians leave they will invent somebody else rich chinese who know's

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Guest redwine

I am betting on Brazil i think that next year the invisible russians should have gone home by then just like the brits have nearly all left

So i am sure that media here will start saying that rich Brazilien's are buying up houses on the Cote d'Azur etc

Seen it before and it will see it again anyone betting ?

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just come back from the Cote D'Azure.

Beautiful place, but it is absolutely RAMMED with cars, people, villas up all the hillsides.

really spoiled. And this was off peak.

And half hour at least to leave St Trop.....the place is a joke.

Never going again....ruined.

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And half hour at least to leave St Trop.....the place is a joke.

I totally do not fancy that part of the Cote d'Azur. Too far away

from cosmopolitan Nice. In the winter the place is dead and in

the summer as you have noticed. No train station too.

What worries me most is that the recession does not have seem

to hit France hard enough :(

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...

What worries me most is that the recession does not have seem

to hit France hard enough :(

having just paid €220 to replace the back door window in my car after someone stole 5 quid's worth of crap off the back seat I'm not too sure.

Most parking bays near us have a nice little display of glass shards in them, glistening in the lovely south European sunshine...

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I totally do not fancy that part of the Cote d'Azur. Too far away

from cosmopolitan Nice. In the winter the place is dead and in

the summer as you have noticed. No train station too.

What worries me most is that the recession does not have seem

to hit France hard enough :(

I'd never stay in the St. Trop area. Horrible, horrible place and as you say, the access to/from it is ...er...horrible. Unfortunately, due to the media, this is the one part of the coast that tourists think is a "must visit". :rolleyes:

As for the recession not hitting hard? What tv channel do you watch ? Factories closing down every day all over the country.

One thing that has saved the average Frenchman is his level of savings is much higher than the average Brit. Also, social security payments tend to be higher, so the immediate effects are less ona man and his family.

For the south coast, I've always said that they will get through their main summer months and then the grim reality will be felt from October onwards. I expect quite a few shops/hotels/restaurants will go to the wall before Christmas. :(

I bought a pair of beach shorts from a boutique in Juan Les Pins yesterday. Had 30% off price, which made them affordable. In mid-July, this is unheard of. I was in the shop for about 30mins at lunchtime and only one other person came in. If this is repeated for the next 6 weeks, quite a few are not going to stay open much longer................. :ph34r:

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just come back from the Cote D'Azure.

Beautiful place, but it is absolutely RAMMED with cars, people, villas up all the hillsides.

really spoiled. And this was off peak.

And half hour at least to leave St Trop.....the place is a joke.

Never going again....ruined.

Sorry to hear you had a bad experience. But to be honest, going to St. Trop is the UK equivalent of queuing for the London Eye or the Tower of London at the start of August. Only for the die hard tourist who has to add this to his book of "places I have seen".

There are 100s of better places along the coast from Menton to St. Raphael. Drive 30 mins behind the coast and there are , again, 100s of beautiful places to visit and not all are tourist ridden even in July/August.

Haste ye back.....(and drop me an email next time and I'll give you a few pointers !)

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just come back from the Cote D'Azure.

Beautiful place, but it is absolutely RAMMED with cars, people, villas up all the hillsides.

really spoiled. And this was off peak.

And half hour at least to leave St Trop.....the place is a joke.

Never going again....ruined.

It took us an hour to get only halfway into St Trop along the beach road last November. We gave up and turned back! Can't imagine how bad it must be in season.

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quick update...

Paris Market. Down across the board .....people are desparate to shift shared owership flats in Place des Voges. Usual problem. Why buy now when it will be cheaper next year with a better choice. I have seen some where the developers are charging more for 4 weeks than a whole flat would cost in a cheaper but just as safe an area. They must think that the punters are thick as bricks!

Went over to the Dordogne a few weeks ago and the whole place is for sale.However the problem is that there are no buyers.

This is when people normally go around wasting estate agents time (the summer ) and not even that is happening.

At least 50% off from peak if you drive a bargain.

If ''you gotta sell you gotta sell'' so I would suggest that now ( or near as damm it ) is not a bad time to start looking for a change of lifestyle.

Just don't open you wallet until it starts to rain after xmas. Roll on 2010.

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Guest redwine
quick update...

If ''you gotta sell you gotta sell''

Just don't open you wallet until it starts to rain after xmas. Roll on 2010.

They can't sell nobody is buying even last night on tv on NT1 they showed a poor woman that had been ripped -off she had bought a damp water ridden dump for a 150k in an out of the way French village it would cost here nearly half as much to get the place put right

French property is over-valued by up to 46% as you say don't buy anything in France before 2010

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Interesting to read this thread, because I live in a small bubble in Paris where the prices really haven't been dropping and properties are still very much selling and are being rented without many problems. Some try to advertise on the English and American websites asking for even more ludicrous prices, but I don't think they'll get very far.

In 2-3 years time I'm looking to rent our current place and buy outside of the city in a rural (relatively Brit-free) retreat, where prices are already quite respectable, so it will be great if prices might drop a little, however it's also been my observation that a lot of French have no qualms about listing propeties for years on end.

In the more commercial areas (took holidays in the SW last summer) there's far fewer bargains to be had. I checked out an immobilier in Collioure (out of curiosity as the SW is not my intended destination) and the prices were almost that of Paris. A lady next to me struck up a conversation saying she can no longer afford to buy now, but is not concerned as she's certain the prices will fall considerably. 3-4 years ago she had sold her place in Collioure of 400 square metres for what would now buy you 50 square metres if that. She was keen to move back to the area. Crazy!

Edited by You Ain't Seen Nothing Yet
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Collioure, and a few other prime spots are the exception in that they are highly desirable and have more buyers than sellers.

Inland properties are selling steadily, and prices are not being drastically reduced. Some examples from a local forum :

Coincidentally these 3 neighbouring detached villas are being offered for sale at the same time, by the same agent.

They are on the edge of a desirable village midway ( 30 mins) Nimes-Montpellier and Coast-Cevennes and around 10km from the A9. The village has a shop, tabac, schools, creche, library and limited bus service. It has a main road bypass and is partially sheltered from the north and south by low hills. Sommieres, with all day to day facilities, is 5minutes by car.

temp114.jpg

Villa 1

Habitable area 101m2

Land area 1450m2

4 bedroom

garage

pool

Built 1985

Notes : owned by elderly lady, needs tidying, redecoration, upgrading

Price : €225,750

Agents details & photos

Villa 2

Habitable area 135m2

Land area 2313m2

4 bedroom

garage

pool

Built 1980

Notes : Built on two levels, downstairs converted to extra accommodation. This is house is set back from the road and faces forest/fields on two sides.

Price : €309,000

Agents details & photos

Villa 3

Habitable area 104m2

Land area 1000m2

3 bedroom

garage

pool

Built 2004

Notes : Exceptional condition

Price : €359,000

Agents details & photos

Villa 1 sold within 10 days. Villa 2 sold after 6 months (3 previous sales failed because banks were over cautious in lending). I understand that both were sold to local people - i.e. not foreign or Parisian

Peter

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The third one seems a bit overpriced though, don't you think? Same square meters as 1 (sold quick) but 100 grand more (hasn't sold)

A villa with a pool for 200K sterling is still a good buy compared to a 2 bed flat in Reading :)

Seems No 2 has sold - I saw the removal truck there yesterday.

However No 3 still has a hand written "a vendre" sign on the wall and it is being advertised quite widely. Seems the owner has noticed the price differential : http://www.leboncoin.fr/vi/24967913.htm?ca=13_s

Unless the house behind has been demolished very recently or trees grow rapidly in that area, someone has been less than honest with the photos ?

http://195.154.158.38/images/035/0359148316.jpg

http://core.naxos-fr.net/imagesBien/202/26...73_1916_1_1.jpg

Peter

Edited by mpprh
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Collioure, and a few other prime spots are the exception in that they are highly desirable and have more buyers than sellers.

Inland properties are selling steadily, and prices are not being drastically reduced. Some examples from a local forum :

Coincidentally these 3 neighbouring detached villas are being offered for sale at the same time, by the same agent.

They are on the edge of a desirable village midway ( 30 mins) Nimes-Montpellier and Coast-Cevennes and around 10km from the A9. The village has a shop, tabac, schools, creche, library and limited bus service. It has a main road bypass and is partially sheltered from the north and south by low hills. Sommieres, with all day to day facilities, is 5minutes by car.

Peter

Peter, any idea what was the final price paid ?

I know this is notoriously difficult to find out in France, but the price asked by EA's is rarely the purchase price. Especially in this declining market. On the Riviera, it seems prices paid are 20% or more below the price in the EA's window. (There are exceptions, of course).

Given the 2 houses you show have been bought by locals, and they have a swimming pool, it might be that "local knowledge" has worked in their favour and they've got a good deal. Those without pools might have to reduce accordingly.......

I had a quick look at the surrounding area. Plenty on sale in the price range you show above. The summer glut, surement ;)

This nice old town house in Sommieres is interesting.

http://www.paruvendu.fr/immobilier/vente/m...MN000CX2CI1RG16

280 sq metres for 236K euros.

and no doubt the EA will listen to offers....

They might look like bargains, but I'm still of the conviction that prices have still a way to fall. End of 2010, start of 2011 is the earliest I'll start looking. ;)

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I think house 1 probably went for the asking price. It was "priced to sell" and sold very quickly.

I don't know about house 2 except that a compromise was signed at €287,000 as a private sale in November. It fell through because the buyers could not get a mortgage at that time. The sellers have a new job in the north of France and have found "the house of their dreams" up there.

The Sommieres house has large volumes in comparison to the number of rooms.

The low town has a serious flooding problem (In 2002 the water reached 1.5m on the 1st floor) which depresses prices. I think this house is probably floodable.

A spot of rain :

cruedupont.jpg

Peter

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2009 its difficult to find work in geneve and house prices are starting to go down in pays gex but its going to be hard and long EA's still think that the good times will soon be coming back

If you are an IT bod there is loads of work. I was told that 2010 will be worse for Geneva.

I was in St Genis last week and they are still building like mad. It is becoming a real dump that side of the border unless you are right up in the foothills. Still the tramway may boost the local market when it gets built.

Figaro has published the Notaires figures (like a shoddy version of the land registry) -3% for 2008 and they are predicting -10% for 2009. They are still very optimistic.

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<lots snipped>

The low town has a serious flooding problem (In 2002 the water reached 1.5m on the 1st floor) which depresses prices. I think this house is probably floodable.

Merci pour ca !

Good to have local knowledge about this sort of weather. I think the "less scrupulous" EA's might forget to mention the floods to enthusiastic Englishmen looking for a bargain pied-a-terre ;)

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Figures just in from Paris show that even central Paris is showing falls of 5.9%..I rest my case.

Elle est aussi plus forte en grande et en petite couronne, où elle atteint respectivement -8,8 % et -8,6 %, qu’à Paris, où la chute est de 5,9 %.

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