The old region of Limousin
was made up of three
departments; you can see
below how prices have
changed in the last 12
months:
· Corrèze +6.3%
· Creuse +6.3%
· Haute-Vienne +5.4%
Limousin has always been a popular
second-home destination for both
French and international buyers.
Property prices are low and
offer excellent value for money,
particularly when you consider
the beautiful countryside on offer.
Prices tend to remain stable,
particularly in the more rural areas,
so the increases shown above have
been exceptional.
Kevin Andrews lives in the Haute-
Vienne and is one of the most
experienced agents at Leggett. His
team spans all three departments
and has had an exceptional year:
"Our demographic last year split
fairly evenly between French and
overseas buyers, with those coming
from abroad being 80% British. We
also had a big influx of Belgians last
year, and this year it seems to be
the Dutch who are coming back in
bigger numbers.
The most noticeable trend was the
increase in American buyers at the
150-250,000 euros range. They
were undoubtedly taking advantage
of the strong dollar and, while that
is a relatively low budget compared
to what they would spend in Paris or
the Alps, it is a pretty healthy sum in
this part of France.
At the top end of the market,
enquiries for châteaux are almost
entirely from the UK, no doubt
stimulated by a popular Channel 4
series.
It is interesting to note that French
and British buyers tend to look for
a slightly different type of property.
French buyers are looking for
renovated period houses (ironically,
often being sold by British vendors)
and are less interested in renovation
projects.
There is a healthy second-home
and retirement market, although
young French couples are buying, if
they can get loans, and are happier
to commute further to work than
they were 10 years ago. On the
other hand, British buyers fall into
three categories. Firstly, those
with less than 100,000 euros and
an appetite for renovation and/
or refurbishment. Projects like
this seem to be in the British DNA.
Secondly are those who are looking
for character properties, where the
work has already been done. Like
our American friends they tend
to have a budget of 150-200,000
euros. Finally are those with larger
budgets, typically around 350,000
euros, looking for a business to run,
and will be relying upon the income.
House prices always seem to
be stable, although for sure we
have seen an increase in those
properties deemed as "desirable" -
by this I mean particularly tasteful
LIMOUSIN
08 Leggett International Real Estate