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Rule changes promise soaring property prices in champagne growing areas
Last night French officials redrew the boundaries of the area designated as champagne growing land, promising increased property prices in the villages chosen to grow the famous grape, writes Jo-ann Hodgson
For the first time since the official boundaries were set 80 years ago, the area of land covered by France's Champagne vineyards is to be increased by as much as 15 per cent by 2015; likely to cause property prices to rocket.
A historian, a geologist, a climatologist, a vineyard expert and a plant sociologist have spent the last two years deciding which villages in the Champagne-Ardennes region should be allowed to join the Appellation d'Origine Controlee (AOC) champagne-producing 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."
The price of a hectare could differ from 3,800 to 1-million euros, depending on which side of the champagne growing boundary land lies.
Whilst Champagne property prices have increased by 70 per cent during the last five years, they remain nearly 50 per cent cheaper than in similar vineyard areas in the south-west of France.
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.
"Champagne property prices increase by around 8 per cent per annum 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.
Currently available on the Champagne property market is a four- to five-bedroom farm in the Argonne forest. Set on around 111 acres of land, the property includes many outbuildings, which are in good condition with new roofs. The property would make an ideal renovation project for around 20 large gites, a hotel, golf club or commercial riding stables, and is on the market at 840,000 Euros.
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For more information visit:
www.champagne-properties.co.uk
Article first published 14 March 2008