Assetz® News - France: Friend or foe?

France: Friend or foe?

18th July 2008 |

France is firm favourite with British holidaymakers despite the bad blood shed throughout many historical eras, as there aren't many Brits who haven't ventured across the Channel to sample croissants and pain au chocolats from authentic patisseries, quaff the notoriously good wine and nibble on some strong cheeses. And of course there's always the weather - something that is certainly tempting credit crunch families to pitch their tents abroad this year as yet another dull and rainy summer clouds British shores.

The links between the continent and the UK have been further strengthened in recent years thanks to Eurostar improvements, while Nicholas Sarkozy has provided enough tabloid fodder in the last year to sate the British appetite for gossip and scandal. But what of the property market? It seems that only a few years ago buying a farmhouse near to an idyllic Gallic village was the dream of most middle-aged Brits - but new and emerging property hotspots are stealing the limelight somewhat.

However, Laura Sturgess, web services research assistant at Property Finder France, has described the country as one of the hottest investments in the current damp climate. "With the bottom falling out of Spain ... France seems like a better bet at the moment. France is becoming the most popular place for second homes for the British and is high on the list for other nationalities because of the weak pound against the euro. It does seem to be the best place to invest at the moment," she said. Ms Sturgess added that the tightening economic situation is likely to encourage more Brits back to France. "Airports are adding more and more flights to more regional places in France," she remarked.

Of course popping over to France to stock up on cheap booze is almost as easy as taking a trip to the local shopping centre these days, as transport links have improved immeasurably, but developers have been warned not to rest on their laurels when it comes to tackling an investment property in the country. Speaking to the Times, a couple that have realised the French farmhouse dream warned inexperienced investors that it's not always an easy ride. Vivien and Peter Lawrence purchased a house near Montpellier four years ago, and Mrs Lawrence stated: "I do think that someone with no experience of interior design or of building projects would not be able to do what we have done - the builders would exploit the situation."

One twosome who may not experience many difficulties are Hollywood power couple Brad Pitt and Angelina Jolie, who have recently purchased a property in south of France, with Jolie popping her latest set of sprogs out in a hospital in the glamourous city of Nice. Surely, if France is good enough for LA's most glittering and loved-up couple - it's good enough for rain-battered Brits. Sometimes, it seems, the old friends are the best - even if you do have your ups and downs.