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Bienvenue to the French property market

17th March 2008 | back to article listings BACK    print this article PRINT

As the wheels of Eurostar turn ever faster following the opening of the Kings Cross International link at the end of last year, there has been an increased interest in property investment in Paris, according to an expert in French property.

Cherise Williams of VEF Group also said the expectation that the Channel Tunnel link between London and Calais will improve within the next ten years is encouraging even more investment in the French property market.

She said that the company had "received a massive response from clients wishing to purchase their own 'pied a terre' in Paris because it's so quick and easy to get to for the weekend with the Eurostar".

As tourists flock back and forth between the English and French capitals at record speed, now appears to be a prime time for those looking for an excuse for several weekend breaks to invest in the French property market.

VEF last week drew attention to the fact that the price of property in France is small fry compared to that of the UK - on average it is 28 per cent cheaper than in the UK as a whole, or 50 per cent cheaper than homes in the south-east of England.

So France, with its growing accessibility and cheaper house prices, is still a property investment hot-spot.

And it appears that the reassurances of Paul Owen, chief executive of the Association of International Property Professionals (AIPP), are being further reinforced.

He said last week that any negative predictions about the end of the overseas investment boom are "a little over the top", adding: "If you look at profits and the specifics of emigration there are still very strong numbers leaving the UK full-time who are obviously looking to buy property."

What's more, it's not just the glamour of Paris that is drawing the British investor into French territory.

Ms Williams noted the growing affordability and popularity of the beautiful French Atlantic coastline that is attracting Brits in their droves - from the south of Bordeaux to the beginning of the Basque country.

She says there is "still much room for development" in this area, which includes the sandy beaches of Les Landes and the stunning inland area of Dordogne.

Furthermore, for a truly great investment, there are even buy-to-let opportunities in this part of France - "Both locations are great for renting out during the touristic season as the French in particular absolutely love the area. This would be a good way of covering your yearly taxes and running costs," added Ms Williams.

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