The perfect time to bag a bargain

There are always some incredibly good value properties to be had in this region but right now, there are some fantastic bargains – the unintended consequence of the change in the law ‘plus value’ or capital gains tax. This won’t alter anything for non-French residents with second homes in France, nor for those of us who have our permanent homes in France but it is having a big effect on the French property market right now, particularly here where many locals own second and holiday homes.

In the past, French owners of second homes would have had no capital gains tax to pay on the sale of these properties after 15 years and a generous taper allowance when selling before 15 years but this law is due to change on the 1^st February meaning that capital gains tax will be due for all second properties owned by French residents for less than 30 years and with a much reduced taper allowance up to the 30 years.

Hence suddenly I am seeing a lot of fantastic properties coming onto the market with owners very keen to sell and very willing to take offers if it means that they will complete by January 31^st. In fact, they are in many cases putting their property on the market at less than it has been valued for but only until the end of January; here’s an example of a private sale;

Bien estimé par notaire et agences 150 000€, cédé à 137 000€ en raison nouvelle taxe sur la plus valu.
Au premier février cette offre ne tiendra plus. (Valued by notaires and agencies at 150,000 Euros but offered at 137,000 Euros because of the new capital gains tax. From 1^st February, this offer will no longer be available.)

Hence, for anyone who is looking for a bargain (and let’s be honest, who isn’t?) this, along with historically low interest rates, is making the next few months look like a very good time to be buying a house in the Midi-Pyrénées.

Scaling the heights

The Pic du Midi

One of the lovely things about living in the foothills of the Pyrenees is the ever-changing views; the mountains have a life of their own and like to put on a good show. Today we woke up to a dusting of fresh snow on the top of the highest peaks which completely changed the landscape and the perspective and motivated us to make a quick trip up to one of the highest peaks to take in what must be one of the best views in France.

This is an ideal time of year to head up into the mountains – the air is clear and cool in the mornings but beautifully warm in the afternoons and the clarity of the light is almost unreal. The highest easily accessible peak in the Pyrenees is the Pic du Midi where a journey of two cable cars whisks you up to 2877 metres. (The actual highest peak in the Pyrenean range is on the Spanish side, Pico de Aneto at 3406 metres.)

The cable car to the summit

The Pic du Midi is visible from all over this region, particularly driving around the Haute Garonne, its telescopes and large aerial making it stand out clearly from the other peaks. Most people take the trip to the top just for the view and it is certainly worth it for that alone although also at the summit you will find the highest museum in Europe. More serious star gazers can book into the small hotel (just 19 guests) for an overnight stay with conducted tours and use of the telescopes – as well of course, gourmet dining. At night from the top, they say you can see the lights all the way from Biarritz to Barcelona.

For me it is just great to be driving around looking at the Pic du Midi every day and knowing what it feels like to stand up there, on the top of the world.

One of the telescopes and the view