French Property a Sound Investment

Though the property crash in France never matched that of Spain, it was enough to deter large numbers of buyers in recent years. That trend seems to be reversing though, with demand and prices stabilising, especially amongst British buyers.

London, UK (Pryce Warner International Group) April 21st, 2011 - Average property prices in France have stabilised according to a new report from the FNAIM, the French national association of estate agents.

Increasing numbers of international buyers are also looking for homes in France, with Brits and Expats also increasingly seeking French mortgages.

Arranging a mortgage in France can often be difficult and there are some notable differences between those in France and the U.K. Mortgages in France work on the basis that the total of all payments on mortgages and loans held by the borrower do not exceed one-third of their income. This also includes any monthly repayments on U.K. mortgages for overseas buyers.

Due to the different in mortgage system in France, it is always wise to seek independent financial advice when considering buying a property.

Graham Downie, who runs Cognac Property in western France, commented: “interest from international buyers dropped substantially at the end of 2008 but transaction numbers are rising once more’”

A spokesperson for the FNAIM commented: “Prices, after having fallen quite significantly – approximately 15-20 per cent over the last 3 years, depending upon the region, are now showing less weakness & buyer interest is increasing.”

David Harra, a Senior Market & Investment Analyst with Pryce Warner International Group, a Respected Financial Services Group who are specialists in the Provision of Pension Plan & Asst Management for Expatriates Worldwide commented: “Considering France’s long standing place in Expats hearts as the ideal place to retire, it is hardly surprising that so many are now hoping to buy property there again. However, the difference in mortgage system can be highly complex to navigate and those considering a move should ensure they seek financial advice to ensure that buying their dream home doesn’t turn into a nightmare. With over 35 years of Experience, Pryce Warner International Group are experts at helping new and existing Expats find homes in France.”

Pryce Warner International Group provide International Asset & Investment Management, Independent Financial Advice & QROPS Overseas Pensions.

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By: Aneil Fatania
Financial Editor
Pryce Warner International Group
For any corrections of factual information contained within our news items please contact our editor.
Email: af@prycewarner.com
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