Friday, 26 February 2010

The Right Time to Buy?

When is the best time to buy a property in France? Sadly the right answer appears to be 5 years ago! According to figures from Notaires de France (based on costs for an ‘appartement ancien’ in Perpignan), in 2004/5 prices rose 24.8%, in 2005/6 they were up 16.9%, in 2006/7 they rose by 7.7%, slowing in 2007/8 to a rise of just 0.2%. It would be nice if I could stop quoting figures right there but unfortunately the statistics continue and show a downturn of 5.9% by September of 2009. (Although this drop is considerably less than most other regions of France).

We bought our apartment in 2007. Am I shedding bitter tears because I bought ‘at the wrong time’? Not at all! We never bought the place with the intention of making a quick profit but for the enjoyment of waking up to Mediterranean sunshine, welcoming visitors to the area, making new friends and living the French lifestyle. What better ‘profit’ could you wish for?