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".