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Property in France Slowing Good Time To Buy

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Property prices in France have slowed over the past year, according to new reports from France’s national land agency, Société d’Amenagement Foncier et d’Etablissement Rural, or SAFER and the Federation of Estate Agents, or FNIAM. For all of 2007, prices rose only by 3% across the country, well below the average of 13% for the past 10 years. Apartments and houses both outpaced the commercial property sector, rising by 4.5% and 4.8% for the year, respectively.

While the country as a whole has slowed in terms of property growth, there are some areas that continue to do well and some new areas that are showing signs of heating up. According the SAFER report, well known country areas such as Dordogne, Normandy and Brittany continue to do well, while some less known rural regions have been growing.

In the heart of the country, in the Limousin Region, the Department of Correze is showing signs of growth. A new airport with a 2100m runway, suitable for the Airbus A320 and Boeing 737, is under construction in the city of Brive, which is known by sports fans for its rugby teams. One local real estate agent, Matthieu Cany of Sextant French Property Agents, believes the airport will help to drive more property buyers to this area. “We think that very soon low-cost airlines will be able to land in Brive airport and that property price within one hour of Brive will increase dramatically,” he said.

In Burgundy, east of the capital of Paris, the area of Yonne is showing signs of growth as well. This district known for its poets, potters and picturesque landscapes, not to mention its proximity to many wineries and vineyards. In a recent interview Gérard Guillot, president of the Burgundy FNIAM says that the British are showing interest in the region and that 13% of all houses sold to foreigners in Burgundy last year were purchased by English-speaking people

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