French property enquiries reach a record high.
11 May 2016
French property enquiries reached an all-time high in January - March of 2016, according to TheMoveChannel.com - up 60% from the same period in 2015. Similarly, Select Resorts Properties has seen a significant year-on-year increase in French property enquiries between Q1 2015 and 2016. Figures from the National Association of French Estate Agents (FNAIM) support this trend; showing a record breaking 800,000 older properties sold in 2015; and these increases are expected to continue well into 2016.
The first quarter 2016 has set a precedent for a positive year for property negotiations; due primarily to a combination of flexible prices, low interest rates and favourable currency pairings. Riviera property in France in particular is doing very well, boosted by price falls inland, and an increase in sales in coastal regions. Predictions suggest that prime markets on the Riviera, in Paris, Toulouse, Bordeaux and parts of Provence and the Alps will continue to see property prices rise throughout 2016.
Many in Europe were concerned that the upcoming EU referendum & ‘BREXIT’ argument would have a negative impact on British buyer’s confidence in purchasing property in mainland Europe however, so far, this does not seem to be the case. The pound continues to perform strongly against the Euro, which gives British buyers every opportunity to make the most of their budget and get absolute value-for-money from their French property purchase.
British buyers are not the only ones seeing promise in the French property market – buyers from Germany, Scandinavia, Belgium, Holland, Switzerland, America and the Middle East are also contributing significantly to the market’s growth.
So why are buyers so interested in purchasing property in France?
A country rich in culture and diversity, France offers a wide variety of property types; from authentic vineyard villas in the countryside to brand new city centre apartments, seafront hotel-style resorts and everything in between – for a holiday home, a retirement home or a buy-to-let investment, France is undoubtedly a fantastic place to buy.
France is a central location within Europe; easily accessible from the UK, as well as most other countries in mainland Europe. Visitors from the UK can travel by plane, ferry, train or coach; or simply drive through the Eurotunnel, arriving in Calais on the northern French coast.
In the coming years, construction projects increasing connectivity throughout the country are set to further support price increases in certain regions, and across France as a whole. The Ligne à Grande Vitesse train line will connect Bordeaux with Paris in 2017, while the TGV line now runs from London to Marseille. These increasing in connectivity are improving the attractiveness of French property, as the country strengthens its position as a central transportation hub of Europe.
Property prices are relatively affordable in most parts and, with an increasingly strong Euro rate, now is the perfect time to buy French property. The process of purchasing property in France is fairly straightforward and arguably one of the safest places to purchase property in Europe. French mortgages are readily available and usually come with a seven-day ‘cooling off’ period, should you change their mind. With the combination of property purchases being simple, relatively cheap and the sheer variety of property available it’s easy to see why France is becoming increasingly attractive to property buyers from the UK, and the rest of the world.