Brits are back

Living France - - Les Pratiques -

UK buy­ers have sealed their sta­tus as the most im­por­tant non-res­i­dent in­vestors in France, af­ter a sur­vey re­vealed that they ac­counted for 34% of all trans­ac­tions in the French prop­erty mar­ket last year.

Data col­lated from re­ports by No­taires de France and BNP Paribas showed that trans­ac­tions were up 44% from 2014, an in­crease that prop­erty ex­perts have at­trib­uted to the com­bined ef­fects of ster­ling’s strength with the weak­ness of the euro, which saw ex­change rates move from €1.28 at the start of 2015 to €1.44 at one point dur­ing July.

Guy Stephenson, from mort­gage bro­kers Off­shore­on­ says the cli­mate was a per­fect one for Bri­tish buy­ers to take ad­van­tage of. “The re­cov­er­ing UK econ­omy plus the ef­fect of the con­tin­ued eco­nomic stag­na­tion in Europe, which has weak­ened the euro, have com­bined to give Bri­tish buy­ers an ef­fec­tive dis­count of over 10% on top of what is an al­ready weak French prop­erty mar­ket, mean­ing there were and are bar­gains to be had,” he com­mented. Although the ever-pop­u­lar lo­ca­tions such as Brit­tany, Langue­doc-Rous­sil­lon, MidiPyrénées and Aquitaine con­tin­ued to be among UK in­vestors’ favourite ar­eas, it was Paris and the Côte d’Azur that recorded the high­est vol­ume

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