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Old 23.03.2014, 15:36
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Buying a house in Pays de Gex

Hi All, we are thinking of buying a house in France but have been warned by our Swiss financial advisor to 'offer a least 30% less than the asking price" which is extraordinary thing to say resting on the assumption that the housing market is still grossly overinflated.

Has anyone any thoughts on this? We would like to live in Divonne where I think house prices are a more solid investment rather than neighbouring Gex etc.

Any thoughts gratefully received.
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Old 26.03.2014, 13:59
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Re: Buying a house in Pays de Gex

-20 to -30 percent drop since 2012/13 is about right. A co-worker moving to Switzerland put his house in Pays de Gex on sale for 980K EUR. Best offer he got was 710K! With the inheritance tax, new social security tax living in France already stopped being attractive, but now with the mass immigration initiative, investing in french property is taking a huge risk, beware. Lots of swiss who purchased in France are returning to Switzerland, and there was so much construction going on in neighboring France so that there is a great pressure on housing prices. Prices will continue falling...
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Old 26.03.2014, 14:05
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Re: Buying a house in Pays de Gex

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-20 to -30 percent drop since 2012/13 is about right. A co-worker moving to Switzerland put his house in Pays de Gex on sale for 980K EUR. Best offer he got was 710K! With the inheritance tax, new social security tax living in France already stopped being attractive, but now with the mass immigration initiative, investing in french property is taking a huge risk, beware. Lots of swiss who purchased in France are returning to Switzerland, and there was so much construction going on in neighboring France so that there is a great pressure on housing prices. Prices will continue falling...
Take a look at property prices in similar areas which are further away from Geneva. That will give you an idea of what the properties in Gex are really worth.
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Old 26.03.2014, 14:15
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Re: Buying a house in Pays de Gex

Many thanks Both.

Sedebu, I wonder what your friend did? Did he accept the offer?

I can see that many houses that were taken off the market last year are now reappearing with a lower price (still too high and not shifting). I realise it's not a great time to buy unless we find a discounted house but we are in our 4th year of speculating and would feel stupid if, like a friend of mine said she waited every year until now 29 years have gone by and she's still in her flat!

Best wishes.
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Old 28.03.2014, 00:11
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Re: Buying a house in Pays de Gex

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Many thanks Both.

Sedebu, I wonder what your friend did? Did he accept the offer?

I can see that many houses that were taken off the market last year are now reappearing with a lower price (still too high and not shifting). I realise it's not a great time to buy unless we find a discounted house but we are in our 4th year of speculating and would feel stupid if, like a friend of mine said she waited every year until now 29 years have gone by and she's still in her flat!

Best wishes.
He had to move out so he had no choice other than to accept the offer. It took him over a year and he couldn't wait any longer.

Seriously, given the current circumstances, I'd think over purchasing property in France voisine. It's just too risky. Quand Genève tousse, la zone frontaliere française s'enrhume...
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Old 28.03.2014, 11:49
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Re: Buying a house in Pays de Gex

Many thanks for your response. I think you are right and yet again we will put it off again…
Best wishes.
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Old 28.03.2014, 14:00
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Re: Buying a house in Pays de Gex

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Many thanks Both.

Sedebu, I wonder what your friend did? Did he accept the offer?

I can see that many houses that were taken off the market last year are now reappearing with a lower price (still too high and not shifting). I realise it's not a great time to buy unless we find a discounted house but we are in our 4th year of speculating and would feel stupid if, like a friend of mine said she waited every year until now 29 years have gone by and she's still in her flat!

Best wishes.
Better to be debt free in a flat than living in a house which you can't afford and will leave you with a huge debt millstone even after selling it.
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Old 15.07.2015, 22:52
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Re: Buying a house in Pays de Gex

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-20 to -30 percent drop since 2012/13 is about right. A co-worker moving to Switzerland put his house in Pays de Gex on sale for 980K EUR. Best offer he got was 710K! With the inheritance tax, new social security tax living in France already stopped being attractive, but now with the mass immigration initiative, investing in french property is taking a huge risk, beware. Lots of swiss who purchased in France are returning to Switzerland, and there was so much construction going on in neighboring France so that there is a great pressure on housing prices. Prices will continue falling...
Hello? I'm new here. I realise this is an old post, but I'm wondering what house prices are doing now? We are thinking of moving to the Divonne les Bains area from near Lyon. Houses are much more expensive here. Is it really still possible to get a house 20 - 30% below the asking price? Do people not get very annoyed and offended if you offer them so much less? Does anyone have experience of offering much less?
I would very much appreciate your views on this!
Thank you very much.
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Old 16.07.2015, 00:15
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Re: Buying a house in Pays de Gex

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Hello? I'm new here. I realise this is an old post, but I'm wondering what house prices are doing now? We are thinking of moving to the Divonne les Bains area from near Lyon. Houses are much more expensive here. Is it really still possible to get a house 20 - 30% below the asking price? Do people not get very annoyed and offended if you offer them so much less?
If it's the first thing you ask before even having completely inspected the house - probably.
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Old 16.07.2015, 08:39
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Re: Buying a house in Pays de Gex

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If it's the first thing you ask before even having completely inspected the house - probably.
Thank you! I'd be very grateful if you could elaborate!

OP, did you eventually buy a house for much less than the asking price?

Any other advice or suggestions would be greatly appreciated.

Thank you again.
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Old 01.02.2017, 23:40
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Re: Buying a house in Pays de Gex

Re-opening this thread as it is always an on-going topic.

It is true that prices have dropped for the past years due to several reasons (a lot of new constructions, insurance tax, more traffic etc.). Though unless you have a huge salary (HUGE), you will never be able to buy a house the size of one you could get in the Pays de Gex.

Best area is, of course, Divonne and will always be more expensive than anywhere else in France.

Though if you are always trying to get the right price, you'll never buy. Take some risk and invest that money rather than giving it out to a landlord.
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Old 01.02.2017, 23:42
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Re: Buying a house in Pays de Gex

Best area is, of course, Divonne and will always be more expensive than anywhere else in France.

*In France, in the Pays de Gex area of course.
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