Languedoc-Roussillon property bucking downward trend
By James Roberts

Languedoc-Roussillon property bucking downward trend

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Price growth is slowing for French property, but the Languedoc-Roussillon region is managing to buck this downward trend. Data from the National Federation of Property Industry Agents in France revealed that growth across the channel stood at 0.8 per cent in 2012 and will fall by a further two per cent this year. However, in the Languedoc-Roussillon in the south-west of the country, there have been positive price increases.

The region recorded an overall property price rise of 1.8 per cent in 2012, with the Languedoc-Roussillon region managing to increase its real estate values by 0.5 per cent. Danny Silver, founder and managing partner of The Villages Group, commented: "Price falls for 2013 have indeed been widely predicted by agencies such as Standard & Poor's and Orpi but it is naive to think that all regions of France will the affected to the same extent.

"Q4 2012 actually saw price growth in Ille-de-France, Provence-Alpes-Côte d'Azur, Champagne-Ardenne, Upper Normandy and Languedoc-Roussillon, where our new Villages project is located and I see no reason why this growth will not continue in 2013."

France as a country continues to be popular with overseas investors and its draw doesn't seem to be relinquishing despite the current climate. Mr Silver stressed that compared to other destinations, France is relatively stable and hasn't experienced the property crashes that have occurred in Spain, Portugal and Cyprus. Consequently, a slowdown of 0.8 per cent is not an issue of great concern as long as buyers "choose the right property, in the right location, for the right reasons".

Rich, highly mobile individuals are also continuing to flock to the country, according to the international outlook report from Beauchamp Estates. Property Community reported that St Tropez, Cannes, Cap d'Antibes and Cap Ferret on the French Riviera are proving to be particularly popular and there are currently 71,000 holiday homes held by foreign owners. Over a period of six years, the region managed to increase its second home ownership by 15 per cent, with Russian speakers dominating the sector.

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