You’ve probably heard of this phenomenon. It’s a popular belief spouted by pop-psychologists that happiness in a marriage or long-term romantic relationship can decline after around seven years.
I’ve seen the same phenomenon occur with homes. Folks move abroad, fall in love with a place and buy a home. They live happily for about a decade, and then they decide to move on.
It’s a natural cycle. People get older, their personal or financial situation changes, or they find they’re not using their second home enough.
For savvy real estate buyers, it’s a phenomenon worth tracking…because if you time the cycle right you can pinpoint destinations that are about to see a glut of sellers.
For example, a few years back Languedoc in southern France there was a shift. Buyers from England and Ireland started buying homes there between 2004 and 2007. At the time, international homes in southern Europe were becoming all the rage. There was a massive surge of investors and second-home buyers.
Then, fast forward about a decade and the itch starts to kick in. Lives have moved on and a chunk of these owners are ready to sell. The thing is, they’re exiting to a different market environment. There isn’t the same demand. It’s more difficult for buyers to get financing. Lots of sellers and few buyers… Topped off with Brexit and it created a great buying moment. The market was soft, and buyers called the shots.
Since then, demand in the Languedoc has crept back up. Yet, by global standards it remains a very affordable destination.
Wine Country
In the French village of Cazouls-lès-Béziers the streets are lined with winegrower homes. Most have been loving restored, and their old workshops have been converted into storage space, often by expat owners.
Naturally, the cool air in these historic buildings make them perfect for storing wine too. And in the Languedoc you’re never in short supply.
The Languedoc is still very much wine country and steeped in traditional charm. It has the oldest planted vineyards in the country—dating back to the fourth century BC when ancient Greeks, and then later the Romans, cultivated the soil for their wine. Today, when you drive through the countryside, you’ll easily find any number of wine domains, where you can stop in for a glass or a whole crate.
In the Languedoc’s sun-drenched medieval villages you can stroll through meandering streets, stop in to a cafés or a brasserie, or sit in the shade of a church steeple and watch the world go by. The villages are small and tranquil but, as my guide for the day points, they are still well connected: “If you don’t find what you need in one village, you’ll likely find it in another just a few minutes away.”
From Cazouls-lès-Béziers, you’re just a 15 minute drive from Beziers, a stunning medieval city that sits on the river Orb. You’re 20 minutes from the beach. And 10 minutes from the Canal du Midi, a UNESCO World Heritage Site and 224-miles network of navigable waterways linking the Mediterranean and the Atlantic.
In picturesque surrounds of rolling hills laden with vines and a Mediterranean climate of warm, sunny days, this is as close as it gets to the French ideal. And it’s still reasonably affordable, especially when compared to what you’ll find in Provence.
While much of the rest of the world has seen a phenomenal rise in real estate prices over the past few years, in the Languedoc the market has remained fairly muted until only recently.
After years of horizontal price movement, that’s now starting to change. In just the last few months prices have risen by 8%, primarily because of dwindling supply.
While Brexit has brought about a drop in the number of British buyers, a new surge of French buyers are filling the deficit. The pandemic has seen an exodus of people from France’s major cities. They’re looking for space and tranquillity, and in the Languedoc that still doesn’t cost an arm and a leg.
However, supply is starting to squeeze. Real estate agent Bérangère. Fewer people are selling and demand remains strong.
The cost of renovating is rising too, due to global supply chain bottlenecks and inflation. The key is to find a place where the work has already been done. Many foreigners arrive in the Languedoc, fall in love with a historic home, and pay handsomely for extensive renovations.
And as Ronan has previously said, “In a place like the Languedoc that will never be reflected in the price when they sell. You need just swoop in and enjoy the fruits of their labor.”
At the winegrowers house in Cazouls-lès-Béziers, the work has certainly been put in. It’s been immaculately renovated. And the indoor pool gives it added value that boosts its potential for rental income. A retractable skylight means you can even sunbath without leaving the house.
A village winegrowers house like this, you could expect €1,200 a week in high season, renting short-term. In winters, you could get €600 to €800. But the heated pool would push that to around €900.
The long-term rental market in France has always been healthy too, as French people tend to buy properties later in their life and rent before then.
A few minutes’ drive away is the village of Saint-Geniès-de-Fontedit. This is one of the region’s numerous “circulades,” built in a concentric circle layout that centers around an old church.
The village is smaller than Cazouls-lès-Béziers but still offers shops, a café and restaurant, a bakery, and a pizzeria.
Interestingly, a new rule is banning the construction of roof terraces in order to preserve the aerial visual aesthetic of these villages. So buying a place that already has one installed is a big plus, especially as most of these village homes don’t offer any outdoor space.
