French Foreign Property Buyers Go into 2015 with Upper Hand, But Should Remain Realistic on Prices, says FrenchEntrée

Contributed by FrenchEntrée, 21 January, 2015

More properties coming to market, but regional variations and growing competition from US, Australian and Far East buyers means getting that dream French property is not always a done deal

Bath, 20 January 2015: Expats are being urged to remain realistic about the cost of purchasing a property in France in 2015 even if the market is currently in their favour, according to travel and property specialists FrenchEntrée.

Increasing availability of properties, a strong Pound versus the Euro, and rising UK house prices, means UK buyers were in the strongest position for some years to 'bag' a bargain French property in 2014, with reductions ranging from five to 30%.

However, success depended largely on regional price differences and the popularity of particular property types, suggests a FrenchEntrée report on buying habits and property trends out today.

Competition for the most sought-after properties, such as a traditional, picture-perfect stone rural cottage, will remain strong, especially given growing interest in the country among Americans, Australians, and Far East buyers last year, it warns.

That is especially true in the South of France, already popular with Mediterranean sun- seekers. A new high-speed train link between the UK and the region planned for May 2015 will inevitably add interest to destinations in Provence, such as Avignon.

Guy Hibbert, managing director of FrenchEntrée says, "Many of our UK and overseas clients have managed to secure some price reductions on French property in 2014. Much of this has been down to a combination of France's well publicised economic issues, global financial trends, and sustained increases in UK house prices.

"This has created the impression buyers can effectively continue to negotiate similar price reductions going into 2015, with buyers holding the upper hand. While this can be true of some regions, there is a two-tier property market in France. Foreign buyers looking to buy in enduringly popular regions such as the Dordogne and Cote d'Azur will still be required to pay a premium over native market rates for picturesque rural period properties."

Key Report Findings:

Buyers' Trends:

Guy concludes, "The market for French homes is becoming more buoyant, complex and more competitive than the native French market. As a result, potential buyers need to be well-informed about what they can realistically expect to negotiate in different regions, depending on the area's transport infrastructure, popularity, and quality of living, just as with anywhere else. "

Tags: business | interest | Expats | retirement | France | Australia |

 

 





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