Lively bistros, shady boulevards and charming architecture – is your idea of the perfect French lifestyle an urban one? To help you match your dream ‘pied à terre’ with your budget, here’s a snapshot of how far your euros go in France’s main towns and cities.
The cheapest French city to buy a home in with a mortgage right now is Saint-Étienne, according to a recent survey by a leading French mortgage provider that ranks France’s 10 most affordable cities.
The cheapest French city to buy a home in with a mortgage right now is Saint-Étienne
Meilleurtaux.com, a web-based mortgage consultancy, based its rankings on the average price per square metre in June (SPI-SeLoger) for a city combined with how many square metres you could buy in the city if you had a monthly mortgage payment of €1,000 with a typical 20-year mortgage deal. This equates to a budget of around €212,000.
In Saint-Étienne, a city in the Loire department in south-east France, this would buy you a property of 151 square metres. By comparison, Marseille a port city on the sunny Mediterranean coast, was ranked tenth with a buying power of 74 square metres. This still makes Marseille a bargain compared to France’s most expensive cities, including Paris, Bordeaux, Lille, Nice or Lyon.
Those who would prefer to be further north will be pleased to know that Le Mans, a city in the Sarthe department made famous by the 24-hour sports car race, was ranked second. There a €1,000/month mortgage would buy you 118-square-metre property. Not far from there is Angers, which was ranked third with 95 square metres, followed by Nîmes (also 95 sq/m), Toulon (92 sq/m), Dijon (88 sq/m), Reims (84 sq/m), Grenoble (82 sq/m) and then Marseille.
According to Meilleurtaux.com, 2018 is still a good time to buy with a mortgage in France, thanks to mortgage rates remaining low, typically below two per cent even for terms of 10, 15 or even 20 years. This is in tune with a recent study by Crédit Foncier showing that mortgage rates in France currently are the most competitive in Europe.