FPN Editor's Blog

Where FPN leads...

Others follow?

Nice to see The Telegraph echoeing my message of yesterday. Here's a section from one of their reports today:

'This time last year Mr and Mrs Johnstone finally found a house they liked. It cost €180,000 (£164,000) – right on budget. What they didn't do was snap it up. Being cautious types, they resolved to think about it a bit longer – right up to the point where the credit crisis reduced their €180,000 to €130,000. Bad move. But they are far from the only clients who ended up kicking themselves over their leisurely approach to buying into the French dream. The Johnstone story, however, has a happy ending. With French property prices going down roughly hand in hand with the pound, their chosen house is now reduced to €130,000 – back on budget! What's more, the sellers, who will be repatriating the proceeds of the sale, will end up with the same number of pounds as they would have before they cut the price by €50,000.' http://www.telegraph.co.uk/property/propertyinfrance/mirandaingram/5125311/Property-in-France-Je-suis-une-estate-agent.html