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Buying a Gite complex in France

Discussion in 'French Property' started by leonardo, Sep 16, 2006.

  1. leonardo

    leonardo New Member

    Hi all,
    me and my partner are very interested in buying a Gite complex in France to live and use for income to raise a family.

    We would just like to know a few things from people that have done a similar thing.

    We would ideally like to own a property that has several separate units to rent out so that families could have their own space.

    I saw a Gite complex that comprised of 7 separate units in a terrace situation with land around etc. the units were 2 3 bedroom, 3 2 bedroom and 2 1 bedroom.

    it was in the Loire valley and cost around 550,000 euros.

    How many weeks in the year would we be likely to rent the units out (depending on seasons and weather etc...)???

    How much could we charge for each unit weekly??? and

    WOULD IT MAKE GOOD PROFIT???

    I know this is a lot to ask but any help or information that anyone can give us would be very much appreciated.

    Thanks,
     
  2. cade

    cade New Member

    Hello Leonardo
    Firstly good luck!

    But bear in mind that the "French" go on holiday in July and August - so the rental season is typically about 10 weeks.

    How are going to extend the season?

    Are you near one of the RyanAir airports for long weekends?

    Do you have some other "activity" that you are going to promote to get visitors to come in the out of season?

    Are you close enough to the ferries? How much competition in your chosen area?

    Ask to see the accounts. Remember there is one set of accounts for the Tax Office and another that paints the true picture!!!

    How much experience do you have in looking after the public?? You need a lot of patience. Remember this a "job" albeit in a better environment perhaps.

    Think about a Marketing plan!!
    Many Thanks
     
  3. leonardo

    leonardo New Member

    Hi All. We are still quite interested in this. Cade thanks for the sound advice.
    Does anyone have any more recommendations. Is anyone here investing in France?
     
  4. mpprh

    mpprh New Member

    Hi

    Just to say that the season is very short, even here on the Med.

    Main booking periods are school holidays.

    However, a better solution is to be within reach of year round activities : large city / ski & summer activities / spa's etc.

    Peter
     
  5. Steve Robert

    Steve Robert New Member

    The gites market in France has become oversaturated in recent years. I would advise against proceeding with Gites in France, unless you are able to differentiate your gites from the 1000s that already exist.
    Regards
    Steve
     
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