A PIVOTAL POINT FOR COUNTRY PROPERTY Keeping you up to date with the French property market,
AU COURANT news, travel and events
FOREIGN BUYERS Another highlight for 2022 was the return of foreign buyers following the pandemic, accounting for 4.6% of sales, compared with 3.6% in 2021. Their share exceeds 15% in some places (cross-border areas of Luxembourg and Belgium, Orne, Mayenne, Poitou and Provence hinterland). There was a slight upturn in
Number of house transactions in the countryside per 1, 000km2 in 2022
T
he latest report from SAFER, France’s rural land agency, says that 2022 was a
pivotal year for rural property. After the widespread market recovery in 2021, following the pandemic, 2022 showed a more mixed picture. While land, meadows, vineyards and forests recorded overall growth in both transactions and prices, there was a signifi cant drop in transactions of country homes and land for development. In 2021 the country house
market recorded a huge leap forward (+21.3% in transactions), showing the appeal of rural areas in the wake of the various lockdowns. In 2022, however, this trend reversed, with transactions down by 11.8% to 119,740. Until 2022, transactions had been rising for four years (+14% between 2018 and 2021). The reversal was particularly
marked from the second half of 2022, with higher interest rates and more challenging mortgage conditions. Transactions remained strong from March to July, before falling sharply (to
under 10,000 sales a month) in the last fi ve months of the year. Despite this sluggish growth,
the appeal of country homes remains high, with the number of transactions still higher than in 2019 (+14,600). Prices for country property
continued to rise in 2022 (+5.7% to an average of €211,000), although at a slower pace than in 2021 (+9.3 %). This was still higher than the rise for all existing homes in 2022, underlining the continuing demand for rural property. The analysis shows that
movements from urban to rural areas are intensifying. Countryside purchases are therefore a major component of the national property market.
REGIONAL DISPARITIES The report highlighted some notable regional disparities. The highest transaction densities are still to be found in the northwest (Brittany, Manche and Loire-Atlantique), the southeast coast and the Lyon region. Conversely, sales are much lower in Lorraine, Champagne-Ardenne and the
southern Alps. The report also shows the weight of certain buyers, particularly those from the catchment areas of Paris, Lyon, Nantes and Bordeaux. The eff ects of saturation
in some markets was clear. In sectors with high levels of sales (Atlantic arc and Mediterranean coast), transactions fell from 2021 to 2022, although sales were still very high. This could be due to a decline in the aff ordability of these areas. Conversely, areas such as Aube, Marne, Doubs and Pyrénées-Orientales saw their sales increase. The highest average prices
are along the Mediterranean (Vaucluse, Var, Bouches-du- Rhône), the western suburbs of Paris (Yvelines, Val-d’Oise) and, to a lesser extent, the mountains (ski resorts). Very rural départements (Creuse, Indre, Cher, Cantal and Meuse) remain relatively cheap. Prices rose by 10%+ in areas
with limited supply but also in rural départements seeing increased sales, bucking the national trend (Meuse +16.2%, Haute-Vienne +12%).
British buyers, accounting for 1.2% of acquisitions in 2022, particularly in Dordogne and neighbouring departments, and Mayenne.
For more on rural France, visit
safer.fr. The prices of land, vineyards and country property can be viewed at
le-prix-des-terres.fr
2020 RURAL PRICES
Free land and meadows: + 3.2% to €6,130/ha
Rented land and meadows: + 2.9% to €5,060/ha
AOP vines: +2.3% to €151,200/ha
AOP eaux-de-vie vines: + 3.2% to €60,400/ha
Non-AOP vines: +1.9% to €15,300/ha
Forests: +4.2% to €4,630/ha
Country houses: + 5.7% to €211,000 per lot
Building land of less than 1ha acquired by individuals: + 4.5% to €79,700 per lot
Leisure plots: +14.5% to €44,900/ha
FRENCH PROPERTY NEWS: July/August 11
©SHUTTERSTOCK
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