For the first time since the official boundaries were set in 1927, the area of land covered by France's Champagne vineyards is to be increased by as much as 15 per cent by 2015, which, when paired with other factors, will have a distinct affect on land and property values in the area.

"The Champagne Ardennes is a huge region in North Eastern France, around 25,600 square kilometres, but the area of vineyards that are concentrated around Epernay and Reims only account for 310 square kilometres in around 300 villages. The plan is to allow a further 40 villages to also produce grapes," explains Grant Endersby of Champagne Properties.

"Land values in these Champagne villages are likely to increase as vineyards are worth 350 times more than land used for regular crop production but the effect on the property prices is going to be localised to just these villages."

Traditionally, British wine-loving property buyers have been more interested in the western regions of France than the north-eastern but in the last five years a markedly increasing number of British buyers have been looking towards the Champagne area.

"Prices have gone up in the popular western regions of France, farmhouses in the Bordeaux region have become too expensive and the area is just too industrialised," comments Antoine Dumont from www.focusfrance.net. "Vineyards in the Champagne region have grown at a steadier pace, but since 2002 we are seeing a real urge towards this region that is attracting more and more British property buyers every year.

"Prices have gone up by 70 per cent during the last five years but are still nearly 50 per cent cheaper than in similar vineyard areas in the south west of France," he adds.

The new TGV Est line has also made the Champagne region more accessible to British property buyers, with the new station in Reims only 45 minutes from Paris.

"Property prices increase by around 8 per cent per annum here and the new TGV Est line will have more impact on property prices in the region as it has become commutable from Paris and Strasbourg," says Endersby.

For those interested in purchasing a Champagne property and winery, Dumont says that "it is fairly simple to find agents and brokers specialised in vineyards that have exclusive knowledge of the properties and privileged contacts in the region."

If you're on a tighter budget, many renovation projects are available in the region.

"You can find a number of large houses, manors and chateau on the market here because, generally speaking, the French, maybe just in this region, tend to build their own new build properties rather than tackle a renovation project," adds Endersby.

"As an example, we recently sold a 'petite chateau' for around 340,000 euros (approximately £243,000). It required only a little re-decoration, no renovation at all and we are now offering it for holiday rental as it is an excellent investment."

A large four-bedroom medieval village property in the Aube department is also on the market for 260,000 euros (approximately £170,000) through FocusFrance.net.

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Article first published 26 November 2007