Offical reports show that now could be a great time to buy property in France, as Vicky Leigh discovers
In the wake of the recent FNAIM and Notaires de France reports, which reported a fall in both sales volumes and property prices, a further report released by INSEE at the end of February has since showed that French property prices fell for a fifth straight quarter at the end of 2012. The report indicates that prices look set to continue falling over the next two years. French mortgage rates are also continuing to edge even lower, according to overseas mortgage specialist Offshoreonline.org, creating favourable buying conditions for those keen to purchase a property.
A recent news report on French television channel France 2 revealed that, in an attempt to attract buyers and encourage demand, French owners of second homes in France are making considerable reductions to sale prices. Transactions have fallen by between 30% and 40%, and properties in both rural and more central locations have been affected. One interviewee’s résidence secondaire in the Marais Poitevin area has recently been reduced by 18% from €320,000 to €260,000, in the hope of attracting interest, while in the seaside resorts of Deauville and Trouville, which have long been popular with Parisians and tourists alike, prices are being reduced in a bid to fight back against a 45% drop in sales.
So, it would seem that now is very much the time to get a foot on the French property ladder. Next month’s French Property Exhibition could be just the place to start your search, taking you one step closer to making the dream of becoming a homeowner across the Channel a reality.
Returning once more to Whetherby Racecourse, the exhibition will take place from 17-18 May and will again feature the latest properties for sale as well as an informative seminar programme.
With properties throughout France on display you’ll be able to see what your money will buy you in different parts of the country, and if you haven’t yet decided which region you’d like to call home the estate agents will be happy to share their insider knowledge.
Experts from the financial and legal worlds will also be on hand to answer any questions you may have, while removals companies can help with the practicalities of moving your possessions across the Channel. A comprehensive programme of free seminars will run throughout the weekend, covering essential topics related to buying and living in France.
Whether you’re on the hunt for a holiday home, a permanent residence or a buy-to-let investment property, the French Property Exhibition will get your search off to a great start.
Visit www.fpeyorkshire.com to register for your free entrance tickets to the exhibition