Buying Property in France: Loire Valley Property Guide
A guide for anyone looking for property around the Loire Valley. Plus, find property in the rest of France.
Known colloquially as the Garden of France and recognised as the cradle of the French language, the Loire Valley has long attracted people looking to settle in the country.
The region of western France follows the path of the Loire river from east of the city of Orleans to the Atlantic.
To find property in the Loire Valley and more French property, visit: www.justoverseas.co.uk/propertyinfrance
It also features a number of other famous towns and cities, including Amboise, Angers, Blois, Chinon, Nantes and Saumur, and Tours.
What's more, the region is famous for its architectural heritage and celebrated castles, such as the Chateaux d'Amboise, Chateau de Villandry and Chenonceau.
The landscape of the Loire Valley is fertile and generally agricultural and is noted for the fine wines it produces.
In fact, the central part of the region was named by UNESCO as a World Heritage Site. The area from Maine to Sully-sur-Loire was called "an exceptional cultural landscape, of great beauty, comprised of historic cities and villages, great architectural monuments - the Chateaux - and lands that have been cultivated and shaped by centuries of interaction between local populations and their physical environment, in particular the Loire itself".
Pros to Buying Property in the Loire Valley
Despite its natural beauty and cultural importance, the Loire Valley is not prohibitively expensive. Figures from france-property-and-information.com indicate that homes in the Pays de la Loire region typically cost 1956 euros per square metre. This means that it is cheaper than property in Paris and in the trendy Mediterranean areas. It is comparable to nearby Brittany and Normandy.
Within the region, there are a number of popular places that people look for second and holiday homes. The first of these is the Maine-et-Loire area. Here the towns of Angers and Saumur typically attract those looking for a new property. Prices in the towns are in the region of 2245 euros per square metre.
According to a frenchpropertylinks.com report, increased access to the department has created a vibrant and growing property market and a flourishing rental sector.
Moving inland, the region around the city of Tours is also popular. The conurbation itself is often referred to as the 'Paris of the Loire' and boasts a delightfully cosmopolitan and diverse atmosphere.
Reports suggest that prices in the city are particularly stable and that the countryside nearby has year-round demand for rental properties. In 2006, property cost an average of 2239 euros per square metre.
Nantes, located 50 km from the Atlantic coast, is also a destination where many consider buying a second home. The city was named by Time magazine as "the most livable city in all of Europe" in 2004. It was also recently named as the country's green city by French weekly L'Express.
Divided into 11 neighbourhoods, the city is dominated by the Loire river which runs through it. It boasts a huge range of art galleries, museums, theatres, cinemas and an opera house.
As a result of the city's popularity and good press, prices have risen considerably over the last decade. However, frenchpropertylinks.com said that the metropolis could still be a good place to purchase a home because "the area is ever popular".
The website's report added: "A modern house within the city is still a little cheaper than a comparable property in the UK and if you are prepared to look outside the city for an older renovation property you will find plenty of choice and reasonable prices."
Official figures from FNAIM, the professional body of estate agents in France, showed that property in the city typically cost 2646 euros per square metre during 2006.
Cons to Buying Property in the Loire Valley
However, there is some concern that the election of Nicolas Sarkozy as president in 2007 could have an impact on investment in the country.
During his campaign, Mr Sarkozy said that he wanted France to become "much more property owner-oriented". While the government policies could attempt to deter foreigners buying properties, the predicted increase in demand might mean those who already own homes see values rise.
What You Need to Know to Buy Property in France
People who buy a property in France will initially have to sign an initial contract which sets out the price, terms and conditions of the sale. After various legal checks have been carried out, a final contract is exchanged.
In addition, deposits on French properties are always paid to the Notaire or to a bonded estate agent, not the buyer.
Finally, contracts are subject to a seven-day cooling off period. This means that buyers can cancel the contract at any point during this period.
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