In a bid to reduce the overall percentage of second homes in France, several towns across the country have launched a ‘tiny homes’ project.
The basic idea is not new: many countries are using the initiative to attract new residents who may be struggling to find homes. It offers them a very reasonable rent while the commune is still in control of the land.
The hope in France is that the local population will increase, the community will benefit and the number of second homes will be reduced.
With prices between €100 and €250 per month, this would appear to be an attractive proposition, particularly for young people who cannot yet afford to buy or have difficulty obtaining a mortgage.
The houses are normally no bigger than 40m2 so are extremely compact!
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This project is currently in the town of La Pesse in the Haut Jura which is part of the Bourgogne-France-Comté region. It is not however the only town offering the project; Brittany has also developed similar houses.
Interestingly, the French themselves call this the “tiny homes” project – borrowing the English word from the tiny house movement mostly seen in the USA and Australia but also in some parts of Europe and even in the UK. The thinking behind it is that by living in such small places, residents will save costs, have no mortgage and will generally start to live a little more “off-grid”.
Aerial view of homes in Loire Valley, France – Image: Vincent JIANG via Shutterstock
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What is the current state of the French property market?
There is good news for anyone wishing to pursue their dream of buying a second home in France. According to the website of French notaries, house prices have been steadily falling over the past year. This is, in part, due to a decline in demand amongst French residents and in part, to a slight downturn in residential construction. Both of these factors have likely come about due to current global uncertainty and lack of confidence in the light of the state of the economy in many countries, not just France. (This may explain why the tiny house project is gaining popularity in many French regions.)
This means that now is an excellent time to consider looking for that gorgeous French property you may so long have dreamed about.
Specifically, it is interesting to note that the price index on second-hand houses in apartments in mainland France dropped by an average of 1.9% during the year up to the third quarter of 2023. To put that into perspective, for the same period in 2022 there was 6.4% growth and if you go back one more year to 2021, that showed 7.43% growth.
The positive market movement is the first to have been seen since the end of 2015, meaning that now could be the best time in the last decade to buy a home in France.
In summary, there are more affordable homes than ever before.
Where can I find a property bargain in France?
Some of the best reductions are in the more expensive regions such as Paris and the surrounding areas of Ile de France and Hauts de Seine. However, you will still need a fairly hefty bank balance to be able to afford to buy property in these areas.
With a large choice of regional airports in France serving similar in the UK, there is now a huge choice of regions to consider if you are thinking of buying property in France. The following are those which currently offer excellent value for money:
The Dordogne River in Corrèze, Limousin I Image: Peter Adams Photography via Shutterstock
Limousin
The Limousin is still one of the least populated parts of France and yet is quite beautiful, offering rolling green hills, rivers and forests as well as some lesser known villages and its capital of Limoges.
There are 3 departments in the Limousin: Creuse, Haute Vienne and Correze. All are reasonable but Creuse comes out top as offering the best value for money.
A budget of under €100,000 will buy you a 2-3 bedroomed family home with some outside space here and if you are prepared to take on work, you can even find property around the €50,000. Learn more about the area here.
Coisia, a village in the Jura department of Bourgogne-Franche-Comte
Bourgogne-Franche Comté
This gorgeous rural area is often overlooked and yet has some of the loveliest villages and towns as well as, in parts, very affordable property. As a rough rule of thumb, to find the best bargains it is a good idea to look in a more rural setting. The department of the Jura, close to the border of Switzerland, is quite beautiful and will appeal to anyone who loves the outdoors life: here you will find endless forests, rivers and hills, ideal for all outdoor pursuits such as swimming and hiking. You can find a decent 2-3 bedroomed property in the Jura for upwards from around €150,000. Learn more about the region here.
Houses along the canal in Grand Est
Le Grand Est
The eastern side of France is very often somehow overlooked. However, it has a huge amount to offer, not just the super Christmas markets and the champagne, but some chocolate box villages and very reasonable property prices. The Haute-Marne department has the lowest property prices. Here you should be able to find a small property for a budget of around €100,000.
In the current market, it is perfectly reasonable to drive a hard bargain so do remember this when thinking of making an offer on any property anywhere in France. A reduction of 10-15% from the asking price is perfectly reasonable. Remember that you can always go up but you cannot go down! Learn more about the Grand Est here.
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