24th April 2013 - Buying and Selling Property in Cannes - Part 1
Given we are in the process of selling our 2-bedroom apartment at 32 Rue Perrissol, I thought it may be a good time to write about buying and selling properties in France. Some of the observations can apply to the whole French market while some are unique to Cannes.
The first thing to note is that selling property in Cannes usually takes quite some time - somewhere in the region of a year. This is largely because most owners in central Cannes have the properties as second, or even third, homes and are rarely in a rush to sell. So most properties go on the market initially at shall we say a fairly hopeful prices and remain unsold for several months before the sellers drop the prices to more realistic levels. The next thing that is quite unusual is that the French do not tend to haggle at all - either as buyers or sellers. The sellers take any justification of a lower bid as something of an insult and tend to adopt a somewhat "take it or leave it" approach to the price. While buyers will offer what they either can afford or what they think the property is worth and will simply not budge from this level. Of course this depends on the nationality of the buyer or seller, but in my experience when the french are involved, haggling is rare.
This article will conclude tomorrow.
At time of writing, our 2 bedroom apartment at 32 Rue Perrissol is still for sale. For details of price or to arrange a visit, please contact us.