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Where next to invest in France

12th August 2008 | back to article listings BACK    print this article PRINT

France can never quite be considered one property market. Just as Britain displays regional variations, with Scotland not experiencing the same sort of cyclical market as the rest of the country and London being bolstered by higher demand than elsewhere, so France is also varied.

For UK investors, this can mean a wide choice between the urban romance of Paris, the Channel Tunnel accessibility of the north-west, the wintersports of the Alps, the inland wine country and the sun, sea and glamour of the Cote D'Azur, to name just some of the choices available.

For investors the question of geography may be critical. Some, it has been suggested, could have a problem with their nest eggs and second homes in areas that have been well served by low-cost airlines, the Times reports.

The paper notes the example of Helen Coop and Andrew Brimmer, a couple with a second home in the Dordogne which is close to Rodez Airport, which has been served by Ryanair from Stansted. With fuel prices rising and other airlines going to the wall, the budget operator has axed its winter schedule between the two localities. Ms Coop warned that if the summer operation went as well it could hit their buy-to-let income, stating: "It is vital for prospective tenants that we are near an airport and that there are plenty of flights."

For those who are investing, it may therefore be worth carrying out research about which places may end up short of flights. As the paper notes, Rodez is a small airport, so investors may be better looking at locations within range of larger hubs with more flights, or of course with good access to ferries and the Eurostar.

Those who keep investing could find lots of good reasons to do so. First-time buyers Oliver Richards and James Nunn decided to get on the ladder by jointly spending £240,000 on a ski chalet in the French Alps, the Independent reported this week. Sleeping six people, this purchase was made in a region where prices are still "strong", foreign property specialist at broker Savills Private Finance International Miranda John told the paper.

Although a 15 per cent deposit was required, the two buyers are convinced they made the right choice, rather than trying to get onto the ladder in their native London. Mr Richards said: "While we had to put down a large deposit, we feel we have got a lot more for our money in France and that the place has great potential for growth. We hope we can make a good return on our investment and buy in the UK later."

So while some may worry about flights, the fact remains that a great many people expect that investing in France will give them wings.

This is a press release by Assetz also available at http://press.assetz.co.uk/articles/4324.html. Alternatively, please see our full press release archive.

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