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2. Property Values in France
A. Factors That Influence the Price of Real Estate in France.
Location, Location, Location!
The old mantra of real estate agents the world over - that location is the driving
force in real estate values - is doubly true in France.
For example:
Paris.
 As a benchmark, take the hypothetical two-bedroom apartment for sale
in the 10th arrondissement of north central Paris. An apartment of identical
size, charm and quietness will generally cost 20 to 30 percent more in a fashionable
Left Bank neighborhood such as the chic St.-Germain-des-Prés quartier, or
almost anywhere in the aristocratic 7th arrondissement. The same is true
if it is in a stately Belle Epoque building in the "golden triangle" of the 8th arrondissement, or in the northen 16th arrondissement near Etoile. Tack on an additional 10 percent beyond that if the property
has a river view and is on the picturesque little Ile St.-Louis.
In parts of the 14th and 15th arrondissements the same apartment may be somewhat
more expensive than in the 10th, depending on how far south it is. Take a good 15
to 25 percent off the benchmark price if the property is in the 19th and 20th arrondissements
of north and northeast Paris.
Provinces.Values in the countryside vary
radically according to location, with properties in the southern part of France,
and Southeast France (Provence and Côte d'Azur) in particular, tending to be more
expensive than the central and northern sectors. Parts of Burgundy, the Loire Valley
and Normandy are exceptions to this general rule.
Take, for example, a spacious and well-appointed four-bedroom house with pool on
a good-sized terrain southwest of Lyon, in the beautiful but somewhat remote département
of Ardèche. If transplanted to certain parts of Provence, this same property would
easily be priced 30-40 percent higher. In the celebrity-studded Alpilles region
of Provence, near towns such as Saint-Rémy or Les Baux-de-Provence, it may be twice
as much. Likewise, the stylish property close to the Atlantic between La Rochelle
and Arcachon will be twice as expensive on the Côte d'Azur near Cannes, and higher
if it is situated on Cap d'Antibes. Count on stratospheric prices at Cap Ferrat,
on the gold-lined coast between Nice and Monaco.
La France profonde:bargains in the
deep country:
A property's proximity to major cultural centers, transportation hubs and high-tech
corporate business campuses is a factor that tends to increase property values.
Other factors that drive up prices are a temperate climate, proximity to the seacoast
and the region's popularity as a tourist (and therefore rental) destination.
In general (and there are dozens of exceptions), the deeper one penetrates into
la France profonde
- deep France, the heavily agricultural areas of the interior where modernity and
broad social acceptance often take a backseat to traditional ways and a distrust
of new faces - the lower the price of real estate. The downside of a good-value
acquisition in deep France may be difficult access, limited cultural opportunities
and a long wait for a buyer if you decide to sell.
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