Property Asking Prices in Normandy Steady

HouseProperty asking prices in Lower Normandy have increased slightly in the last 18 months but remained more or less static in Upper Normandy, figures from estate agents show.

The data provided by the property website MeilleursAgents.com shows that in lower Normandy prices dipped a year ago but are now above the level they were at in December 2011.

The highest prices in the region can be found in Granville on the west coast, in Caen and along the Channel coast to Deauville. Also overall prices are higher in Calvados and lower in Orne.

In Lower Normandy the average asking price for apartments as of the end of May was €2,510 per square meter and €1,688 per square meter for houses. The lowest price for apartments was €1,131 for apartments and €788 for houses and the highest €5,206 for apartments and €3,356 for houses.

In Calvados the average asking price for apartments was €2,695 and €1,977 for houses. In Manche the average asking price was €1,647 for apartments and €1,485 for houses. While in Orne the average asking price was €1,126 for apartments and €1,290 for houses.

In Upper Normandy the average asking price for apartments was €1,944 and €1,766 for houses. The data shows the lowest asking price was €1,137 for apartments and €1,766 for houses. While the highest asking price was €3,079 for apartments and €2,513 for houses.

The highest prices in Upper Normandy were to be found in Rouen, Vernon, Le Havre, Dieppe and Yvetot with prices hardly moving since December 2011.

Average asking prices are pretty evenly spread throughout Upper Normandy. The average asking price for apartments in Eure was €1,897 and €1,774 for houses. In Seine-Maritime the average asking price for apartments was €1,960 and for houses €1,754.

French lenders are seeing an increase in activity due to good buying conditions in France with prices in popular regions like Normandy attracting overseas buyers and French holiday home seekers.

British people are still keen on property in France and UK based lender Athena Mortgages has reported that May saw the single largest increase in applications since 2007.

‘Over the course of the month we received applications from people who have signed purchase agreements for over €20 million with a further €10 million in borrowers refinancing loans or releasing equity,’ said director John Busby.

‘The increase in applications can be attributed to the fantastic buying conditions in France. The mixture of ultra low rates combined soft property prices, especially at the top end of the market, means that there are bargains to be had,’ he added.

About Ray Clancy

Ray Clancy has 20 years experience in journalism including contributing articles to print and on-line publications such as PropertyWire.com, Property World Middle East and websites for estate agents. She has also written for the Daily Telegraph and Mail on Sunday.

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