Gite Property Market Review 2010By Howard • Jan 11th, 2010 • Category: Opinion
With European economies showing signs of recovery, there are some indications that the holiday rental season in France will be better than 2009. However, the gite market is very competitive, and although July and August may be good – the rest of the year could be difficult. Perhaps the Brits will still find it difficult with the strong euro but other Europeans will be vacationing in France.
Consumers are looking for value for money, and are conserving savings. So expect the last minute market to be very busy this year. The luxury end of the market was strong in 2009, and expectations are high for 2010. Those offering a range of activities and USPs will probably fare better.
Many gite owners are British, attracted by a less stressful lifestyle (how misleading), and often rely on pensions or income from the UK. Many have found it difficult to live on lower takings and less euros for their pension pounds, and have decided to sell up. Although gite property prices might have declined in the last couple of years, the Brits can sell at lower prices because they are getting significantly more pounds for their euros! There are still some desperate sellers.
So if you are thinking of buying, there are many gite bargains around. However, the Languedoc-Roussillon and Aquitaine, increasingly popular with the Brits does not have so many bargains – prices keeping relatively stable in the downturn.