Buying Property in the Charente
Tuesday 08 January 2013
The charming department of the Charente offers great value for money for those seeking a genuine French experience.
The coastline of the Poitou-Charentes region, particularly around the beautiful port of La Rochelle, reputedly has one of the sunniest climates in France.
However, if you are willing to forsake some of the sunshine hours to go further inland into the Charente department you are rewarded by substantially lower property prices.
According to latest figures from the French notaires, the average price for older property in the Charente is €115,000, substantially lower than the average price of €183,000 in neighbouring Charente-Maritime.
Christophe Guay runs the TIC Ruffec estate agency based in the picturesque, bustling market town of Ruffec.
He says that the Charente has suffered less of the development pressure that has occurred in its sister department, and the rolling countryside offers a greater diversity and authenticity.
"Many of the villages retain a traditional character, with a strong architectural heritage that the local councils are keen to preserve", he says.
Not surprisingly, the department is popular with British buyers, with around 8,000 who live there, as well as several thousand who own second homes.
Many who buy in the Charente seek the relative calm of the area, which makes it highly suitable for outdoor activities, such as walking, cycling and horse riding. There is also a wealth of rivers and lakes to be enjoyed.
The area to the North of the department, in the Pays du Ruffécois, and the Pays de Charente Limousine to the East are particularly attractive places to live. That is equally the case just across the border into the department of Deux-Sevres and the charming Pays Mellois.
Property in these areas also happens to be very good value for money, with average prices for older property under €100,000, according to the French notaires.
Although there are pricier hot-spots where international buyers have bought property, notably around the popular towns of Verteuil-sur-Charente and Sauzé-Vaussais, the area is relatively undeveloped, so is likely to appeal to those seeking la France profonde.
"However", says Christophe, "that does not imply the area is remote or isolated, for there is good motorway access, airports at Poitiers, Limoges and La Rochelle with regular flights to the UK, and a TGV train service at Angoulême, which gives access to Bordeaux in 1 hour and Paris in 2 hours."
As is the case in many other rural areas of France, the property market has slowed considerably over the past year and so there are plenty of attractive deals around, particularly if you are a cash buyer.
At under €100,000, TIC have on their books a large habitable stone house situated in a lovely village. The house has three bedrooms, lounge, dining room, kitchen and bathroom. There are various outbuildings two garages and garden. Oil central heating. All in 1745m² of land. It is on the market for €98,000.
Some of the current 'best buys' are properties that require substantial renovation, as few international or French buyers are interested in such properties.
"There is a level of risk and difficulty associated with major renovation projects so most buyers now steer clear of them, with the result that if you are able and willing to take on such a project then you can get yourself a lot of real estate for very little money", Christophe says.
Typical of such properties is a stone house with barns to completely restore located near the pretty little village of Villefganan.There is 150m² of living-space, a small garden, a sound roof on the house and water and electricity connected. The property is on the market for €20,000.
Although the number of British buyers to the area has slowed considerably in recent years, Christophe says that there continues to be a regular stream of enquiries.
As a number of recent UK surveys have shown, France has now overtaken Spain as the most popular destination to buy overseas.
The continued interest is likely to have been helped by the improvement in the value of Sterling. Although it still languishes below the dizzy heights of €1.50 available in 2006, at currently around €1.20 it is a far cry from the dismal parity of 2009.
An increasing number of buyers are younger families with children who see no future in the UK and want to make a fresh start. Of necessity, in order to fulfil that ambition they are all going to need to earn a living .
"There are of course those who have a trade or profession that they can use in France, but some also want to try a new activity, such as running a restaurant. Others are looking to work from home on the internet or seeking to convert a hobby into a business", Christophe says.
Not only are buyers younger that was the case in the last Millennium, but they are also now more informed, due no doubt in large measure to the influence of the internet and the growth of television programmes on living abroad.
"Buyers today have a much clearer idea of what they want, and their expectations are high", say Christophe. "Very few are looking to buy a new build property, and there is a similar lack of interest in building land. Most are seeking the same thing - a stone house with land."
One such property that might fit that description is a traditional stone house in 9,000m² of land with a range of barns in a courtyard arrangement, set in lovely countryside. The property is on the market for €183,000, a reduction of nearly €40,000 on the original asking price.
In a slow market buyers inevitably expect to be able to negotiate on the price and in the Charente the pendulum has certainly swung very much in their favour.
"Perhaps the greatest catch in the past year", says Christophe, "was the buyer who managed to wrestle down a seller for the purchase of a stone house and barns on 7,000m² of land from an asking price of €200,000 to a knockdown price of €70,000!"
Not surprisingly, such firesales are rare; the French property market is not in meltdown in the same way has occurred in Spain and parts of Eastern Europe. However, with an economy in slump all sellers have been required to adjust their price expectations, particularly those living in rural areas.
With greater knowledge amongst international buyers also comes greater caution and wisdom. ''So rather than completely burn their bridges and sell up entirely in the UK many will retain a smaller property and buy more modestly in France'', says Christophe.
As a result, most of the properties in the Charente being sold to British buyers are in the range €80,000 to €150,000.
Sales above this level are very slow, giving the whip hand to those want to buy into this market.
If you are looking for a property towards the higher end of the market, then TIC have for sale a lovely three-bedroomed stone house of 175m², with up to 9 hectares of land, in a superb location bordering a river. The property has been fully renovated to a high standard. There are also two large barns in good condition. The property is on the market for €265,000 and offers will be considered!
You can contact Christophe and see other properties he has to offer at TIC Ruffec.
A selection of more properties in the wider Poitou-Charentes region can be found in our January Property Picks.
Our complete listing of properties in the region is at Poitou-Charentes properties.
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