Posts Tagged ‘Brittany’

Those thinking of buying Brittany property may be encouraged by news that a new ferry service from the UK is being launched to the town of Roscoff.

Brittany Ferries has launched the Armorique, a £100 million purpose-built ferry that can carry 1,500 people and 470 cars between Brittany and Plymouth, in addition to boasting a number of new passenger amenities onboard.

Travellers keen to use the facility to cross the Channel for their Brittany property hunt may be interested by the reported speed of the ship, which has just made its first crossing in five hours, shaving one hour of the quickest time its predecessor took.

According to the firm, a normal daylight crossing will take around six hours and a night journey will take eight, with two sailings each day scheduled until October 2009.

As well as Plymouth, Brittany Ferries also sails to Roscoff from Cork in Ireland.

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The French property market is offering a "window of opportunity" to buy at a reduced cost, an agent working in the country has stated.

In comments that may interest potential Brittany property investors, a representative of French specialist real estate firm VEF has commented that in the present climate many sellers are willing to accept a lower price from British buyers while the exchange rate between the pound and euro are near parity.

The official added that these buyers will be looking for higher offers when the value of sterling starts to recover, making the present a good time to find a bargain.

Brittany property investors may also be able to use the current economic situation to their advantage when investing in homes that could be rented to tourists for modest amounts.

Earlier this month a Daily Telegraph feature on cut-price travel noted that getting to places like Brittany is much cheaper than it used to be, with a car plus passengers being able to cross on the Dover-Calais ferry for less than a third of the 1992 price.

This could mean that Brittany attracts a large share of those looking for cheaper holidays during the recession.

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Britons wanting to holiday in France this year have been given a series of top tips on how to save money on accommodation, something that may be worth noting by those keen on buying Brittany property.

Daily Telegraph travel writer Fred Mawer wrote that those keen to keep their costs down due to the credit crunch and the exchange rate could look for a number of cheaper accommodation options.

Mr Mawer suggested that those who book accommodation such as cottages in France could save money by booking direct with the owners and seeking places with less amenities, such as those without a swimming pool.

Those investing in Brittany property may wish to pitch themselves to this market by buying simple, basic accommodation rather than upmarket properties with a wide range of facilities.

Earlier this month, the same paper suggested holidaymakers on a budget could save money using the Dover to Calais ferry service, a method of travel that would suit those visiting the north-west of France.

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Brittany is an area of France where visitors may still enjoy low value when visiting the country, despite the recent fall in the value of sterling against the euro, it has been stated.

In a feature on the costs of visiting France, the Daily Telegraph notes that many expenses - particularly travel - are much less than used to be the case.

These include services such as the Dover-Calais ferry, which the paper recommends as a means of saving money while getting to northern France.

Crossing this way cost around £300 for a car plus passengers in 1992, but is now under £100, the paper noted.

Such cost savings may encourage investors to look at Brittany property as a means of tapping into the budget buy-to-let holiday rental market.

Last month, managing director of Solihull-based Cherish Properties Steve Wright told the Birmingham Post that France is still well worth investing in, comments that could help encourage Brittany property investment.

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A property professional has said that the French market is still a good one to invest in, something that could encourage those considering buying Brittany property.

Speaking to the Birmingham Post, managing director of Solihull-based Cherish Properties Steve Wright said the country still has much to offer despite the fall in the value of sterling against the euro.

He noted: "In France, there is still six to seven per cent growth a year on average," adding that the French government has been encouraging foreign investment by refunding the VAT on new-build properties when they are completed.

Mr Wright also noted that the market is cyclical and the value of the pound will recover in time.

Earlier this month the chief economist at foreign exchange broker World First Jeremy Cook said 2009 will see a significant improvement of the value of the pound against both the euro and the dollar.

Such a development could help cut the cost of Brittany property.

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One of the factors that may appeal to Brittany property investors is the strong relationship the region has with the sea, which surrounds the peninsula on three sides and gives rise to a number of maritime and seafood-related events.

The latter takes centre stage in April when the annual Cotes D’Armor Scallop festival takes place.

Fans of shellfish may be drawn to the two-day event, which occurs in a different coastal location in the area each year and in 2009 will be held in Saint-Quay-Portrieux

As well as enjoying the scallops themselves, visitors can enjoy the other seafood on offer at the festival, as well as enjoying music, boat trips and the fine local scenery.

Other events in the area that Brittany property investors may enjoy include the Perros Guirec comic strip festival, featuring the works of artists in this genre in an area well known for its pink granite coastline.

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Those investing in Brittany property may find that it soon becomes cheaper to take out a mortgage to do so.

As part of the eurozone, France will see its interest rate lowered if the European Central Bank decides a cut is warranted tomorrow, something widely predicted by economists in a Reuters poll.

The majority of the 81 experts interviewed by the news agency predicted a 0.5 per cent rate cut, with 24 of them suggesting the fall will be as much as 0.75 per cent.

Of the 15 banks contacted, most expect the reduction to be 0.5 per cent.

While Brittany property seekers may be able to enjoy the fruits of a euro rate cut, French president Nicolas Sarkozy has announced action this week to bolster the housing market.

He has introduced measures such as raising the income limit for government mortgage guarantees and interest-free loans for those making energy-efficient home improvements.

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In news that may bolster those thinking of buying Brittany property, official figures in France have shown that prices have still risen this year.

French National Estate Agents Federation data has indicated that in the 12 months to July 2008, the country’s property prices rose by 1.7 per cent.

This follows rises of 7.1 per cent in 2006 and 3.8 per cent in 2007.

Commenting on the findings, Property Abroad’s chief analyst Liam Bailey said: "France has seen such continued - if steady - increases in property values, mainly because it never really became swept up in the overseas investment boom."

Such stable and steady investments may be just what Brittany property buyers are looking for.

Also reflecting on the figures, founder of French property specialist company VEF Trisha Mason said that the firm believes prices have now stopped rising, but are not seeing significant falls.

However, there are reduced-price deals available, she said.

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In news that may help attract more people to the Brittany property market, it has been revealed this week that the city of Nantes is to host a major musical event.

The Nantes tourist authority has announced that La Folle Journee de Nantes - which it states is the biggest music festival in Europe - will take place in the city from January 28th to February 1st.

Over 1,800 musicians will be taking part in 270 concerts in the city during the festival, which will focus particularly on northern German composers from the century between 1650 and 1750, such as Schutz and Johann Sebastian Bach.

Such an event may provide plenty of interest to tourists who can find a wide range of culture - not least the Celtic heritage - in Brittany, as well as boosting the Brittany property sector.

Other attractions for tourist in Nantes include the Jules Verne museum, dedicated to the life and times of the famous author.

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Last week’s decision by the European Central Bank (ECB) to slash interest rates may help increase demand for Brittany property and other property in France, it has been suggested.

French property specialists firm VEF has stated that initial signs following the move are that the level of demand across the country is rising.

It noted that there has been a 120 per cent increase in client bookings for this week compared with last.

Such a situation could see a significant boost for Brittany property as the value of the euro drops.

In its meeting last week, the Governing Council of the ECB resolved to trim the rate by 0.5 per cent, taking the minimum bid rate down to 3.25 per cent.

Such a move follows interest rate cuts in the last couple of weeks by the Bank of England and the US Federal Reserve.

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