Property and currency news
The latest from the French property market, including buying trends
The French property market is experiencing a renewed sense of optimism, thanks to Macron’s victory, currency shifts and tax breaks, according to Knight Frank’s Inside View France 2017 report. Many buyers who have been waiting to see what happens now feel sufficiently confident to move forward with their plans to buy a home in France. The report revealed that Paris is leading the way so far in 2017, in terms of activity and performance. According to figures from Notaires de France, 10,380 properties in the French capital were sold in the first quarter of 2017, up 66% compared with the same period in 2016.
The Inside View report confirmed that the upbeat momentum in Paris has filtered down into the property market in other areas of France. Knight Frank said the number of purchase inquiries they received in the first half of 2017 had increased by 48% compared with the same period last year. Low interest rates and attractive mortgage deals are thought to be the most influential factors for the increased level of interest.
Areas that are doing particularly well include Gascony, where inquiries were up by 55%, and the Côte d’Azur, particularly inland, where villages such as Grasse, Valbonne and Mougins are attracting a steady stream of European buyers. In the Alps, sales figures in Chamonix are notably high, with prices rising in a way “that has not been seen in France for some years”.
When it comes to search criteria, most buyers share similar wish lists in terms of what they are looking for in a French property. Close proximity to an airport, good facilities such as restaurants and bars, and a property that is easy to manage were the most popular requirements.
While the report acknowledged that there was some hesitancy from UK buyers who had concerns about Brexit, it also found that confidence in the €2m-plus market is returning and budgets are increasing.
Offering good value for money, property in Gascony is proving particularly popular
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