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104 LEGGETTFRANCE.COM

BUYING OFF PLAN LEGGETT MAGAZINE

Graham Downie has been

talking with our experts in

Paris, PACA and the Alps

to find out.

demand is high. The reduced purchase

costs of a newbuild property make

it possible to spend a little more

on the property itself. You can also

choose from a range of finishes

and personalise some of the overall

specification. Many buyers are also

attracted by the fact that, in some

cases, they can recover the 20% VAT

on the purchase cost, by renting out

through an approved management

company. Locally we're selling more

individual plots and have introduced

buyers to trusted architects, project

managers and builders - thus allowing

them a managed build of a stand-

alone chalet, built to their exact

specification."

Across in Morzine (Val d'Aulps)

Nicky Wye agrees that demand

remains strong. She says that smaller,

more personal, projects sell well too.

"Here, we have a lot of architecturally

attractive new developments through

family owned local developers. A good

example are the projects by ChaletsDutruel in Les Portes

du Soleil, who

specialise in timber-framed houses and

chalets".

Travel south through the Alps and

Jackson Collins sees a slightly different

trend: "Down here in the Southern

A

good starting point is

to look at a market

report issued by

Mordor Intelligence,

looking at the French

property market over

the next five years. When it comes

to the new homes sector they say:

"Growth is expected to be driven

by continuous lower interest rates,

healthy bank lending figures, economic

growth of around 1.4%, and the impact

of €10 billion of tax cuts and new tax

initiatives to revitalise the newbuild

property market in France".

That's a healthy prognosis,

particularly given the fact that the

Notaires de France report a 24% year

on year fall in new home reservations

(down to 24,022 units) in the first

quarter of 2020. They also reported

a 28% reduction in the number of

newbuilds coming to the market. Of

course, these figures have to be read

in context - with Covid-19 arriving

in France in January 2020, swiftly

followed by a full lockdown in March.

Possibly a more meaningful statistic

given by the Notaires is that, last year,

new home sales increased by 0.3% to

130,103 units.

So, what is it about newbuild

property that buyers find attractive?

Andrew Morgan, our St. Gervais agent

says "Buyers appreciate the build

quality and environmental credentials,

including energy performance and

low carbon footprint. Add in the low

running costs and you can see why

BUYING OFF PLAN:

WHAT'S NEW?

Alps, we have several types of new-

build projects in progress. One of

them is a "cession-bail / leaseback"

development closer to the pistes

than other developments and offers

owners a better investment. In-resort

projects are very expensive, with

prices averaging €6000 per m². Also,

there has been a rise in demand for

newbuild properties around the lakes,

away from the ski resorts - buyers

are looking for bigger apartments and

more outside space".

On the south coast, Thomas Lloze

runs our office in Nice and he too says

that demand for new build property

remains healthy: "The market in PACA

continues to grow, despite the health

crisis the developments are being

completed, with demand from both

domestic and international buyers."

Moving to Paris, Dominique Petit

says lack of land is an issue. "There are

some newbuild projects, particularly

in the 13th and 19th arrondissements.

However, the bulk of activity is within

the Grand Paris project (200 km

of new railway lines, with 68 new

stations), particularly around the

airports".

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