DECREASING SELLS IN FRANCE HAVE VINTNERS LOOKING ELSEWHERE

Many French vintners are choosing to sell their wineries due to New World competition and a lack of French wine consumption. Although no one knows for sure how many properties are on the market, it is estimated between 400 and 500. According to the Herald Tribune, many prospective buyers are coming from Britain and the United States. A vineyard’s price depends mainly on the location and types of grapes that are produced but low and medium-end wines are usually the first to go. Since 2004, prices of French vineyards have fallen as much as 50% in some areas including Beaujolais and Bordelais with a 23% drop. Nonetheless, buyers are advised to proceed with caution. Economic and systemic problems along with France’s inheritance laws make it difficult for a vineyard to get passed down the family line.