Assetz® News - The where and when of buying in France

The where and when of buying in France

30th July 2008 |

Those seeking to invest in property in France have never been less stuck for choice, with a country possessing a wide range of geographical, cultural and culinary attractions providing something for everyone.

So it is that some can look to the north for a cheaper property than can be had across the channel in the home counties, while being able to commute to London via the tunnel. Some may go for the romance of Paris. Then there is the sun, sea and sand of the Cote D'Azur or Bay of Biscay, famous wine growing regions and two major mountain areas, the Alps and the Pyrenees.

This variety, of course, might be only to be expected in what is, as French Property specialists VEF point out, the largest country wholly in Europe and three times as big as Britain. Following this point, the firm has suggested that taking advice is a key measure to take, since the various issues concerning climate, location, lifestyle, rental yields and capital growth are all subject to variation and those in the know should be employed to sort through these questions.

While VEF frequently makes such statements to promote its own expertise, the value of getting good advice is obvious enough, to help buyers ensure they are not making unwise or inappropriate purchases, have the legal angles covered and are researching their prospective purchases properly.

Yet it may literally pay not to take too much time, whether buying in France or elsewhere in the Eurozone, according to Homes Worldwide. Managing Director of currency exchange specialists FC Exchange Nick Fullerton told the portal that now is a good time for those planning to buy to act – if not on the property purchase itself, then at least with the money, as a window of opportunity has opened up with the value of the Euro having dropped of late.

He stated: "The Euro has dipped by nearly a percentage point, so now is the best time to take out a forward contract - a method of exchanging currency that allows you to freeze the exchange rate for up to two years."

Doing this now is important as Sterling is likely to take a further slide in value against the Euro in the coming months, he added.

Those freshly armed with lots of euros to spend on French property may look to the Alps for one possibility, according to overseas investor firm Brookes & Company, which has switched away from its normal development destination on the Mediterranean coast to launch the new Les Terrasses development between Chamonix and Megev, Landlord Expert reports.

Speaking of the development, managing director of the firm Philip Button said: "The apartments at Les Terrasses offer an exciting opportunity for our investors. They are all finished to a very high specification, are fully and tastefully furnished, have dedicated parking and, importantly, offer a guaranteed rental return and excellent capital growth prospects."

But whether investors go for this development, any other Alpine prospect or look elsewhere, those who are able to grab some euros on the (comparatively) cheap may find themselves glad they did when they locate the ideal French investment property.