Following on from Part 1, where we asked a number of Languedoc real estate agents marketing both resale and new build properties for their take on the current market, we now bring you the views of agents selling some of Languedoc’s most noteworthy new build developments.
Read on for the inside track, and some background that may well be of interest to house hunters in the southern French region of Languedoc-Roussillon.
Daniel Martin, Domaine de Lavagnac (www.domainedelavagnac.com)
“I find the Languedoc property market very interesting at the moment; I don’t believe it follows the traditional lines of the European real estate market. The south of France is ‘one of a kind,’ on a worldwide scale. As I see it, Languedoc property today is a money-making window in time for more adventurous, logical thinkers.
The PACA (Provence-Alpes-Côte d’Azur) region has long been the destination of choice for those seeking a south of France vacation destination or holiday home, but things are changing as the sound of over-crowded beaches and over-development echoes around the globe.
Meanwhile, Languedoc’s untouched countryside, vast gorges and spacious beaches are starting to attract those who had previously only heard of Provence, as well as others looking for a more authentic, better-preserved ‘south of France.’
Tourist figures for the Languedoc region were up 7 per cent in 2007 and I predict that this growth will continue. Languedoc-Roussillon is easily accessed from the European countries that surround it, and its five international airports are rapidly developing their overseas routes, so I am confident that a property investment in the region now will bear fruit in years to come.
The development taking shape at Domaine de Lavagnac is truly unique. It is Languedoc’s very first five-star development, comprising a 17th century chateau, to be transformed into a 75 suite 5* hotel and 1000 m2 spa, an exceptional golf course (objective to be within Europe’s top ten) and a number of hamlets designed in a chic contemporary style, all within fifteen minutes’ drive from the Mediterranean beaches.”
Penny Zoldan, Latitudes (www.latitudes.co.uk)
“The Languedoc property market is as affected by the slow down as any other area, but because it has become so popular over the last few years, there is still a good deal of interest. The area offers some very reasonably priced properties which are quite near to the coast, as well as larger villas and character properties at higher prices. It’s possible to find some lovely Languedoc village houses, apartments on golf courses, and new build developments by the sea, from around €150,000.
The good thing about the Languedoc region that it is also highly sought-after by the French domestic market, so it is easier to resell properties when the time comes. This makes it a good place for a safe investment, knowing that you will always be able to get your money back, hopefully with a profit.
Our new build marina properties at Aigues Mortes, in Languedoc’s Gard département, now offer exceptional value as they are almost completed. It has been a long haul to build the marina and then the properties, but this development is now looking extremely attractive, and there are still some moorings available with the properties.”
John Bartram, Groupe Garrigae (www.garrigae.com)
“At Groupe Garrigae we’re feeling rather upbeat, even in these difficult and uncertain times. Our vineyard and spa development in the Corbières wine making area, Les Jardins de St Benoit, has been a great success; situated on the edge of the Languedoc village of St Laurent de Cabrerisse, half an hour from the medieval city of Carcassonne, we have sold over 160 properties in 24 months.
Garrigae has been committed to presenting clients with property propositions that make sense, with low operating costs, guaranteed rental returns and excellent potential for long-term capital appreciation in a stable, low-risk economic environment.
The majority of our Languedoc new build homes have been sold through Garrigae’s tailored leaseback scheme, which makes use of the French government incentives to avoid the VAT of 19.6 per cent on the purchase of the property. Rental income is guaranteed for a minimum of 9 years at 4.76 per cent gross (index linked) per annum if owners do not use the property, or they can choose to take a smaller return and use their property for up to 6 months of the year.”
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