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PROPERTY

MAP: Where in France can you buy property for less than €100k?

While French cities such as Paris are notoriously expensive, there are many areas outside the cities where it is still possible to buy spacious homes for less than €100,000 - particularly if you don't mind a bit of renovation.

MAP: Where in France can you buy property for less than €100k?
(Photo: Mychele Daniau / AFP)

We decided to look at where in France you could afford a property on a budget of €100,000, and it turns out there are some bargains to be had.

There are a lot of caveats while searching for property, and many local variables in place, but our search does show some of the areas to concentrate on if you have a limited budget.

We used the Notaires de France immobilier website in August 2022, and we specified that the property should have at least five rooms (including kitchen and bathroom) and a floor space of at least 100 square metres.

We also discounted any property that was for sale under the viager system – a complicated purchase method which allows the resident to release equity on their property gradually, as the buyer puts down a lump sum in advance and then pays what is effectively a rent for the rest of the seller’s lifetime, while allowing them to remain in the property.

READ ALSO Viager: The French property system that can lead to a bargain

For a five-room, 100 square metre property at under €100,000, you won’t find anywhere in the Île-de-France region, where the proximity of Paris pushes up property prices. The city itself is famously expensive, but much of the greater Paris region is within commuting distance, which means pricier property. 

Equally the island of Corsica – where prices are pushed up by its popularity as a tourist destination – showed no properties for sale while the region of Provence-Alpes-Côte d’Azur – which includes the French Riviera – showed only 1 property under €100,000.

The very presence of Bordeaux, meanwhile, takes the entire département of Gironde out of this equation – but that doesn’t mean that the southwest is completely out of the running. A total of 25 properties came up in the Nouvelle Aquitaine region. One property was on the market for a mere €20,000 – but it was, as the Notaires’ brochure noted, in need of “complete renovation”.

Neighbouring Occitanie, meanwhile, showed 12 further properties in the bracket.

By far the most properties on the day of our search – 67 – were to be found in the Grand Est region of eastern France. The eastern part of France overall comes out best for property bargains, with the north-east region of Hauts-de-France showing 38 properties and and Bourgogne-Franche-Comté displaying 25.

Further south, however, the presence of the Alps – another popular tourist destination – pushed up prices in the Auvergne-Rhône-Alpes region which showed just three results.

The below map shows our search results, with darker colours indicating more cheap properties.

Property buying tips 

In order to make a comparison, we focused our search on properties advertised online, but if you have a specific area in mind it's well worth making friends with a few local real estate agents and perhaps also the mayor, since it's common for properties not to be advertised online.

Most of the truly 'bargain' properties are described as being "in need of renovation" - which is real estate speak for a complete wreck.

If you don't mind doing a bit of work you can often pick up property for low prices, but you need to do a clear-eyed assessment of exactly how much work you are willing and able to do, and what the cost is likely to be - there's no point getting a "cheap" house and then spending three times the purchase price on renovations.

READ ALSO 'Double your budget and make friends with the mayor' - tips for French property renovation

That said, there were plenty of properties at or near the €100,000 mark that were perfectly liveable or needed only relatively minor renovations.

You also need to pay attention to the location, as the sub-€100,000 properties are often in remote areas or very small villages with limited access to amenities. While this lifestyle suits many people, bear in mind that owning a car is a requirement and you may end up paying extra for certain services.

Finally remember that government help, in the form of loans and grants, is available for environmentally friendly improvements, such as insulation or glazing.

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MONEY

Cutting back and applying for benefits: How the weak pound has impacted Brits living in France

In recent weeks, the pound has become weaker when compared to other currencies, namely the euro. This has made life more complicated for Brits living in France. The Local asked readers to share their experiences - and advice - for others who find themselves in the same situation.

Cutting back and applying for benefits: How the weak pound has impacted Brits living in France

While the pound is still low when compared to other currencies, it has recovered somewhat since its drop after the British Chancellor’s mini-budget.

As of October 5th, the exchange rate was £1 to €1.14. For British people living in France who receive income in pounds sterling – whether they be pensioners or others with financial interests still in the UK – the drop in the pound’s value has had negative impacts.

The Local reached out to readers to hear how they have been affected by the exchange rate. Many offered their tips for navigating the current economic landscape.

Many readers found life still affordable, but expected to be more severely impacted in the future. Retiree A. Wood, who lives in Haute Vienne, said that “The recent drop in the value of the pound will not immediately affect me. If it remains low for more than a year then maybe I will have to do some calculating.”

Pensioners especially said that life in France had become “more expensive” and “costlier” for them, but being aware of price rises and managing the changes “with care” were plausible solutions for the time-being.

In general residents of France are better protected from inflation than many other European nations, thanks to government initiatives such as energy price caps and fuel rebates, but prices for many everyday items such as food have been rising steadily.

One respondent, Nigel Harrison, a retired former business consultant, said that weak pound has “not made life unaffordable, but worrying.” 

Meanwhile, some readers, all of whom are also retired, said that they were starting to feel more serious impacts of the exchange rate.

Retired librarian and micro entrepreneur, Pat Hallam, who has been living in Paris for the last two years, said that she receives her career pension in pounds, which she later transfers into euros by way of her French bank account.

She explained that she already works to supplement the cost of life in Paris, but now she expects to have to take on extra work.

She expects to also “cut back on things like socialising, eating out and culture.”

“Explaining this to friends will be hard, and it is what makes living in Paris a pleasure. I know the cost of living would be cheaper in other parts of France, but I’ve spent the last 2 years building a life in Paris, my dream destination. I would be very disappointed if events across the Channel forced me to move away, or even back to the UK,” she said.

READ MORE: The best banks for non-EU citizens living in France

Pat is not alone – Tom Baker, who is retired and lives in south-west France – said, “All my pensions are from the UK and the drop in exchange is definitely felt, coupled with the loss on transferring the money to France as I have five pensions.”

Baker explained that having his income drop has been particularly difficult “as a 74 year old with two young sons aged seven and 10” and amid “the present financial climate the cost of everything is spiralling.” 

Many readers said they would try to live on savings while waiting for the value of the pound to rise again, which has also posed its own problems, as many British bank accounts have begun closing the accounts of non-UK residents. 

John Stanley Mumford found himself in this situation, he said: “I have a pension in pounds. I will live on savings until the value of pound goes up! But, Barclays bank is to close my account as I am a French resident, so basically I’m stuffed!”

READ MORE: Banking giant Barclays to close all accounts of Brits living in France

Non-pensioners have also felt the impacts of a weak pound. One respondent discussed the dilemma of attempting to sell their UK home, and worrying about whether they should leave the money in pounds or transfer it to Euros afterwards. Others worried about their UK savings accounts.

Respondents did offer helpful advice for others in similar positions – ranging from tips to try to hold out for a better exchange rate to recommendations for how to become thriftier – like getting rid of unused streaming services and cutting back generally. 

Tom Baker said he recommends transferring funds “perhaps every three months to reduce the cost of transfer fees, which since Brexit have really increased.”

He also said that he checks the daily rate “for a week or 10 days before the transfer is needed to try and get a better each rate.” Others said if possible – wait until the pound recovers.

However, for those unable to hold out until the pound is stronger, several readers recommended apps and international banking services, such as Wise and Revolut as handy ways to find better exchange rates and avoid high fees when transferring between a UK bank and a French one. 

Finally, Pat Hallam counselled Brits living in France to consider applying for welfare benefits if necessary. She said even if you’ve never considered it, “either out of pride or because you didn’t think you were eligible, maybe now’s the time to look again.”

She also recommended tracking energy use more carefully via a smart metre: it “takes three months’ use before you can start comparing consumption but it helps keep track of your energy use.”

READ MORE: Living in France: How to cut your household energy use by 10% this winter

Many thanks to everyone who took part in our survey and shared their experiences and tips.

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