Finding affordable property in France
France is not an expensive country for buying property and it is certainly possible to find what most international buyers would regard an affordable property. You just have to know where to look, do your market research so you know what is a fair price, and be ready to snap up that bargain before someone else.
Looking at France as a whole, recent stats from Notaires.fr revealed that the most affordable properties in France in 2023 were in Indre, Somme, Vienne, Aube and Haute-Vienne. In these areas the average property price varied between €130,000 and €193,300.
But even within more expensive areas there are variations. Country homes tend to be more affordable than properties in and around big cities. Unless, that is, they are country areas that attract city buyers for second homes. That certainly became a problem during the Covid-19 pandemic when working from home became more common, with Brittany and Normandy rising in price. Much of that has now shaken out of the system.
You can also find an affordable home on the outskirts of one of your favourite cities. Some suburbs are viewed as more desirable or fashionable than others. Certain areas may have less appeal for French commuters which, if you are retiring or buying a holiday home, may offer a possibility for a more affordable property in France. Then there is the well-known approach of “buying the worst home in the best street” and doing it up.
So, in most areas of France you can still find plenty of properties for under €100,000. Larger homes at this price may need renovation, but for a bijou cottage or apartment it is possible to find beautiful properties even below €100,000.
For those tackling a renovation, it’s important to pay close attention to the technical diagnostic report (DDT). You also have the option to hire a chartered building surveyor to help spot potential issues, although this is not a legal requirement in France.
Budget-friendly regions
If you are on a strict budget, there are certainly some areas that are more affordable than others. Equally, if your heart is set on a particular region there will be more affordable departments within those.
Hauts-de-France
A short hop across the Channel, Picardy and the Pas-de-Calais at the eastern end La Manche is more affordable than Normandy and Brittany in the west. The Somme region in particular is green, beautiful and affordable, with substantial country houses for well under €200,000.
Nouvelle-Aquitaine
A favourite for international buyers in France, the south-western region of Nouvelle-Aquitaine is home to a number of sub-regions (departments) where you can find a home for under €150,000. The more rural eastern side of the region is more affordable, such as Corrèze and Haute-Vienne. Charente and Deux- Sèvres also offer affordable rural property. There’s a huge variety of homes for sale here, ranging from village homes and traditional townhouses to cottages and farmhouses.
Cher and Indre
Cher and Indre are two departments in the centre of France which offer the possibility of a particular grand, chateau-style home at a bargain price. Plus, the location isn’t too far from Paris, where you can get the Eurostar to London, Lille, Brussels, Rotterdam and Cologne. Here you can find homes in need of a little TLC for as little as €50,000, but equally you could become owner of a fairytale castle for as little as €1million.
Languedoc
The most affordable properties in the Languedoc region are found in Lozère, where stone properties and alpine chalets sell for as little as €110,000. You can find affordable properties in Languedoc-Roussillon and it’s hugely popular with foreign buyers seeking a slice of southern France without breaking the bank. The Hérault is also worth a look if you’re on a budget.
Tips for finding bargains
It’s worth speaking to an estate agent in France and discussing your requirements (and budget) in detail if you’re passionate about finding an affordable property in France.
Ensure that your mortgage, if buying with one, is agreed in principle. Have your currency broker ready too, perhaps with your account prefunded and ready to pay a deposit (check with your lawyer before signing anything, however).
That way, should a house matching your requirements go on the market, you’ll only be a phone call away. Do be aware that affordable properties in France are in high demand, so should you see a property you like, time is of the essence!
Keep your eye on the property portals and refresh your search regularly. New properties are added regularly, so look frequently.
Negotiating lower prices
When making an offer on a French property, you will liaise with your estate agent who will approach the seller on your behalf.
Negotiation is key for getting a bargain in France. Most French sellers are open to haggling, so don’t hesitate to make an offer under the asking price. But how do you know what is a fair price? There are two ways, easily done online. The first is to see the recent prices of sold property in the area via the Valeur Foncière website. The second is to make a list of similar properties available on property portals and see how “yours” compares.
When the negotiation starts, showing that you have done your research, while remaining friendly and polite, can work to your advantage.
Of course, another good way is to use the knowledge of your estate agent, but they are not always a disinterested party. Your property lawyer may be more impartial and also up to date with market knowledge.
Top tip: When browsing properties online, be as specific as possible with your search terms. If you know of a charming town where you’d like to buy a home, search that rather than the wider region. It will decrease the number of properties you have to trawl through to find one that suits.
Remember, many of the legal, administrative and service fees and taxes that you’ll be paying as part of the buying process will be calculated as a percentage of the property value. Therefore, you’ll save on both the admin costs and the property price.