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The price is right - and so is the time

21st October 2008 | back to article listings BACK    print this article PRINT

Those thinking of investing in property across the English Channel may be wondering what the future holds for the French market. They may have heard that French banks have not got embroiled in the US subprime crisis or operated the sort of fast-and-loose lending strategies that have caused so many problems elsewhere. But equally, they may have heard that in France, as elsewhere, there has been government intervention to protect its banks and the public's savings.

As a consequence, there may be a fair bit of uncertainty about what to do next. Some will have already decided not to buy in France, perhaps because they cannot sell a UK property for the price they want in order to fund the move, or just because of the uncertain economic climate.

However, a French market with fewer buyers is neither bad news, or a reason for those who can invest right now to stay away, according to the founders of French real estate firm home-hunts.com, Tim Swannie and Francois Xavier de Vial.

Speaking to French Property News, both men suggested there are still excellent reasons for investment in France. Mr Swannie, speaking about southern France where the firm specialises in selling luxury properties, said: "The Riviera in particular is one of those rare places in the world which will always attract the rich and famous due to its excellent climate, stunning scenery, easy access and glittering reputation."

But France in general is good for buying in, Mr de Vial commented. He stated: "Contrary to what some people think, now is still a good time to buy French property."

Mr de Vial argued that the slowdown in the market is advantageous for those buying properties, as it means buyers can take advantage of greater choice and lower prices. "Sellers know they need to attract buyers with a good price in the current market," he concluded.

So buying in France, it seems, is still a good idea. The key, as ever, is to make sure the most important considerations are dealt with. According to French property specialist firm VEF, there are four. These include the question of how a property is going to be funded, making sure the best legal advice is taken and engaging the services of a good agent.

The other factor listed by the firm is location, noting that the large size and variety of France will mean any prospective buyer is faced with a multiplicity of localities, with each offering a "different lifestyle, climate and access". This last consideration of the four may, in circumstances where the market has less buyers and more choice, be one that requires the most attention. But that remains a long way removed from any suggestion that those thinking of buying in France should choose to wait until sometime in the future.

This is a press release by Assetz also available at http://press.assetz.co.uk/articles/4440.html. Alternatively, please see our full press release archive.

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