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Look south

20th August 2008 | back to article listings BACK    print this article PRINT

A recent thinktank report in Britain suggesting that millions in the north think of looking for a new home in the south was roundly derided, but when it comes to buying property in France the south comes highly recommended.

This is not just because of the sunshine, sea, climate, wine and fashionable, upmarket locations, though of course all these are part of the immense appeal of the region. But as investments there are places to suit every taste, according to French property specialist firm VEF.

Founder and managing director of VEF Trisha Mason said that of all the different regional markets in the country, this was the best, commenting: "It has consistently outperformed all other areas of France in terms of capital growth over the past ten years and demand for top class properties remains very buoyant."

However, if some may take that as evidence that the region is only for the wealthy, with every property having appreciated to a high value and no bargains about for new investors, the reality is different, according to Ms Mason.

She stated: "At whatever level investors look to enter the property market in the south, there is something of interest. Small studios and apartments achieve good rental yield either for holiday lettings or for full time lets and larger properties remain in high demand for summer rental with weekly rents of €6,000 (£4,742) and upwards."

Of course, there are wealthy investors getting involved in the area, with Ms Mason mentioning Russians in Nice and an influx of celebrities, all of which has increased interest and demand. But she also pinpointed the villages of Var as a good investment spot just inland from the coast.

As ever, of course, investors should make sure they are taking plenty of good advice and are well prepared when making their plans and following through their purchases.

Writing in French Property News, expert Cherise Wilson advised that patience is indeed a virtue when it comes to finding the right property, rather than rushing in. But more importantly, she suggested, the financial and legal aspects need to be carefully considered.

In the first instance, she stated, French agents tend not to be interested in doing business unless the financial means to buy a property are in place. Moreover, the money must be there before any purchase can be made.

Equally, the legal aspect can also be hazardous, particularly for anyone not conversant in French. Those unsure, Ms Wilson advised, should make sure they get independent legal help.

Such preparations should, of course, be a watchword for anyone buying abroad in order to ensure everything goes smoothly. For those investing in the south of France, preventing things from going wrong is a wise move, given all that can go right in a region that has performed better than the rest of the country.

This is a press release by Assetz also available at http://press.assetz.co.uk/articles/4336.html. Alternatively, please see our full press release archive.

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