Prop­erty and cur­rency news

Living France - - Contents -

The lat­est from the French prop­erty mar­ket, plus a cur­rency up­date

The French pres­i­den­tial elec­tions have sparked in­ter­est in the French prop­erty mar­ket, at a time when prop­erty sales in France have reached a 10-year high. Ac­cord­ing to fig­ures from No­taires de France, there were 843,000 sales in France last year, the high­est num­ber recorded since 2006. At the same time, prop­erty prices also started to rise in many ar­eas of France. In the fi­nal quar­ter of 2016, there was a 2% in­crease in prices across the coun­try with Bordeaux see­ing an 8% in­crease, and other ar­eas in­clud­ing Mont­pel­lier and parts of Provence and the Riviera also see­ing a rise.

It is most cer­tainly the low in­ter­est rates in France that are help­ing to boost the mar­ket – prop­erty buy­ers are keen to get value for money and fi­nalise the sale sooner rather than later.

How­ever, it is thought that the po­lit­i­cal cli­mate, both in France and around the world, has in­flu­enced the surge in in­ter­est. Tim Swan­nie, Di­rec­tor of Home Hunts said that the po­lit­i­cal cli­mate has made an im­pact on the num­ber of en­quiries they have re­ceived.

“We en­joyed a fan­tas­tic first quar­ter of 2017 with 36 pur­chases agreed for our clients by the end of March,” he said. “Around one third of these clients are Bri­tish and while we have seen a 25% de­crease in the num­ber of UK en­quiries since the EU ref­er­en­dum last June, the en­quiries we do get tend to be from se­ri­ous buy­ers.

“The qual­ity of the Bri­tish en­quiries has im­proved; the peo­ple who are look­ing seem to be se­ri­ous and ready to make de­ci­sions quite quickly. Some clients want to buy their hol­i­day home now, be­fore the UK leaves the EU, in the hope that be­ing a home­owner in France will help when it comes to their fu­ture free­dom of move­ment in Europe.”

Swan­nie also said that Home Hunts no­ticed an in­crease in en­quiries from Brits look­ing to re­lo­cate to France per­ma­nently. This was specif­i­cally re­lated to peo­ple re­lo­cat­ing for work, plus fam­i­lies and re­tired cou­ples look­ing for prop­er­ties with in­come po­ten­tial.

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