The places are normally converted from old farm buildings and because of this they have a wonderful architectural style that is very French. Today, most of these buildings have all of the facilities you would expect in a holiday villa and are in very appealing locations for anyone who is looking for a relaxing getaway. Most of these buildings are privately rented and there are many websites with information about one’s you can stay in.

The difference in prices between gite’s can vary enormously and if you are on a budget it is easy to find a simple gite with basic facilities. On the other hand if you have more money to spend you are going to be able to rent something that would be equivalent to a luxury villa.

Many of these more expensive locations have large swimming pools and high-tech facilities. If you are looking for a location with a bit more charm than your average holiday home then considering staying in a gite can be a great idea for your next holiday to France.

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Areas that are attracting the wealthy are the least affected in the downturn and these are areas of France – most notably the Alps and other areas of southern France, as well as the Algarve region of Portugal. The fact that the very wealthy have remained less affected by the economic downturn has meant that the areas with the highest property values have maintained their value. Other such areas include some of Italy’s high end locations and certain Spanish islands including Mallorca.

UK buyers consider several factors when choosing where to invest in a second home. One of the most influential factors is proximity to an airport as this can significantly reduce the travel time required to get to the home. Other important factors include having a well developed tourism infrastructure and whether there are good bars and beaches close to the home. Children’s entertainment as well as golf courses are also an important factor.

In France, Italy and Switzerland, buyers have typically opted for older, traditional style properties, while in the US and Cyprus, and also albeit to a lesser extent in Spain and Portugal, investors have tended to buy more modern properties. This reflects the volume of new build development in these locations.

Holiday home owners like outdoor living, reflected in their preference for balconies and terraces with their properties. Buyers like the modern conveniences of their primary home to be available in their holiday homes. Internet connection is on the rise, particularly in long haul destinations. Air conditioning is in half of properties and 80% of home owners have access to either a private or shared swimming pool.

More than half (55%) of our survey respondents said that income generated from letting their property partially covered costs, helping them to mitigate against current global economic conditions. More interestingly, almost a third of respondents said that rental income completely covered their costs and 13% indicated it made them a comfortable profit: Over one in 20 holiday homes generated in excess of £30,000 per annum.

A 2011 survey of more than one thousand tourists who were looking to rent holiday properties showed that similar to traditional overseas buying trends, Spain, France, the UK, Italy, Portugal and the United States topped the list of favourite destinations. They were followed by areas in south eastern Europe, Cyprus, Greece and Turkey, with Ireland in tenth place. These are typically summer destinations, with almost 80% of holiday rental requests being for the months April to September, with peaks in July and August.

In areas where prices are thought to have bottomed-out, most notably in selected US locations, investors are now looking at high yield potential and capital appreciation opportunities that will come with recovery. This demonstrates that appetite for investment has not disappeared.

There are investment opportunities where low house prices and high rental income can generate strong yield potential, especially in areas of the Caribbean, such as the British Virgin Isles and parts of the US, South Africa, the Spanish islands and in Portugal’s Algarve region. This demonstrates that despite comparably low capital values in these locations, holiday home rental demand supported by strong tourism fundamentals, remains strong.

Rebecca Gill, research analyst at Savills International and the author of the report, said: “Clearly, holiday home owners and tourists share similar preferences for overseas properties. Strong underlying “lifestyle demand” for a property helps to support an investment case. It is these fundamentals that drive longer term capital appreciation and attract rental income.”

Tim Boughton, General Manager, HomeAway.co.uk commented “The holiday rentals market is one of the fastest growing sectors in the travel industry with around one in five people now opting for this type of accommodation over a hotel due to the value and experience it offers. This is good news for today’s lifestyle-motivated buyers as it generally means they can be assured of a strong rentals market which will help contribute towards costs.”

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There are some important steps that can be taken to avoid pitfalls when buying property in the country. First off, it might be a good idea to learn some of the language. The French are a very polite nation and learning even a few words of the language will show that you have made an effort with it. This will make the French much more willing to deal with you. Learning a few essential phrases will also make you feel more confident in your interactions.

It is not easy to learn a language but it will probably be worth it as you will be able to understand what the seller of the house might be saying when he thinks you do not understand. Most people in France won’t do this, but it can be useful if you are in a situation when there is someone who does.

Even if you are fluent in the French language, you probably won’t understand the paperwork required to purchase a house. The internet is your friend here and there are numerous sites advising on the legal process and about hiring a ‘Notaire’ – a type of lawyer who will help you. Make sure when getting advice from a site that it is not pushing its own agenda.

Those looking to buy a property in France will want to consider hiring a consultant or an interpreter. This person will certainly make the buying process easier but they can be very expensive. The French land law system is very different to the UK with regard to issues such as rights of access or what planning regulations may need to be followed. You should research into whether hiring someone is something you will need.

If you choose to hire a French agent they may assume that you are as knowledgeable about the laws as their local clients. The buying system is very different so educate yourself, or hire someone who is English speaking and educated in such things. That said, the agents will be very helpful as you are the client after all. If you don’t know something, do not be afraid to ask them, they will probably know the answer and if not, they will try and find out.

To sum up the advice about buying property in France: do not be afraid to ask questions and make sure that you fully comprehend the answers. If the agent doesn’t understand, rephrase and ask again. If you don’t understand, ask them to repeat themselves until you do.

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Town or Country?

Property on the French Riviera remains among the most expensive, but also prestigious, in the world and with such a beautiful capital city one would expect Paris to be a very expensive buy as well but property in Paris remains a good long-term investment. In France, new properties are widely available and include coastal and city apartments, ski and golf developments, and a wide range of individually designed houses and chalets. It must be said that most new French properties are part of purpose-built developments, often located along the coast or in mountain areas, encompassing a golf course, swimming pool, tennis and squash courts, a gym or fitness club, and a restaurant. British purchasers of French property need to understand that the French purchase procedure for property is somewhat different to the norm in the UK, the French have different Building Surveys and their own version of the Home Buyers Report.

North or South?

Some of the most popular areas for buyers of French property include Paris, the Loire Valley, the South of France (particularly the French Riviera or Côte d’Azur and Provence), south-west France (e.g. Charente, Dordogne and Gascony), and of course Brittany and Normandy, which are particularly popular with the British. Winter holiday homes in French alpine ski resorts are also popular, especially in fashionable resorts such as Chamonix. Properties in French ski resorts are usually an excellent investment and also make fine summer holiday homes, especially if you’re a keen hiker. But do remember that French properties are built differently than in the UK, they not only look different, but tend to use different techniques and materials, so don’t expect a UK Building Survey to be of enormous help!

Big or Small?

Apart from obvious points such as size, quality and land area, the most important factor influencing a house valuation in France is its location. A restored or modernised two-bedroom house in the north-west (e.g. Normandy) but sells for double or treble that price in the south-east (e.g. Provence), so don’t rely on a one size fits all assumption for house valuations, France is a huge country. Similarly, the closer you are to the coast or Paris the more the house valuation is.

A farmhouse with a barn and a large plot of land in North West France will have the same house valuation or cost as a tiny studio apartment in Paris or on the Côte d’Azur. Property in ski resorts varies considerably in price according to the resort and the location of the property.

Help financing your French property in France is well worth investigating, mortgages are available from all major French banks (both for residents and non-residents) and many foreign banks and by using local services you will get the right building survey and equivalent of the HomeBuyer Report.

Article courtesy of www.direct-valuations.com

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However the recent drop in strength of the British Pound against the Euro has made many people in the UK think twice about taking a holiday on the European mainland. That said aside, longer term lets are still sought as even with the economic downturn many Brits attracted by the slower pace of life and lower general living costs continue to house hunt for a property of their own in France.

Another problem facing gite owners today is that due to the influx of Brits over the last few years (many of whom decide on running gites in France or a chambre d’Hote B&B) within the most sought after regions there is something of an over-abundance of holiday gite accommodation.

As soon as you add to this excess of gites the short length of the peak tourist season it quickly becomes clear why the majority of gite and villa landlords are struggling to continue to keep their business feasible let alone profitable.

Offering long term lets of a month or more can give owners the ability to get the most out of their properties earnings potential. By opting to offer short term, holiday gite rental in the summer months and then long term lets off-peak and even over the winter period a property owner in France can begin make the most from their gite.

The potential of renting out a property purely for longer term rental can be attractive to many owners. Even with the downturn in the pound, the market for long term lets in France remains a healthy one, popular not only with house-hunters looking to rent a place before they buy but with French nationals too. Many young French families choose to rent long term, often for periods of two to three years and in some cases, much longer.

A long term let could indeed become a regular income source for a landlord coupled with less work due to numerous changeovers involved when providing short term, gite accommodation.

I would strongly advise property landlords and prospective tenants alike to seek relevant, professional advice from a French Notaire before entering into any form of rental agreement or contract.

Steve Ellis runs LetsRentPropertyInFrance.com, a website offering a wide range of properties available for long term lets or holiday gites/villas in France. He is unsure why he is writing about himself in the third person.

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