Mortgage enquiries for French properties “more than triples in two years”
France is enjoying a massive surge in popularity with British buyers. According to the latest property hot spots’ report, compiled by UK-based overseas mortgage specialist, Conti, France is now the most popular country for Brits looking for property overseas. With a 43% share of mortgage enquiries, France is enjoying a huge hike from its 14% share in 2008, and is now well ahead of second-placed Spain with (24%).
Claire Nessling, Conti’s operations director, says: “The percentage of people enquiring about French mortgages has more than tripled over the last two years, and it’s currently out on its own as far as popularity goes.” Conti identifies this appeal as the stability of the French mortgage market, due primarily to the cautious approach adopted by its banks. It adds that the country is extremely attractive to prospective investors, who are well placed to pick up a bargain thanks to historically low interest rates and reduced property prices.