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France 'still a place to invest'

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

To hear some speak it may be believed that when it comes to property France has offered nothing more than a stable market with low growth and the prospect of a pleasant lifestyle. Some may say that both of these are very good reasons to invest - not least the first in the current circumstances.

Even so, the situation in France is more varied than that. Discussing the market in the country, director of Francemediterraneanproperty.com Peter-Danton de Rouffignac has noted that many parts of the country have seen very large increases in property value in recent years.

Writing for French Property News, he stated that this has particularly been the case for the major cities around the country. While the overall market has seen prices fall and may suggest a buyer's market - more so in the secondhand sector as many new builds are being bought up as social housing by the government - the major urban areas have boomed.

Quoting figures from the Notaires de France/INSEE, Mr de Rouffignac noted: "Prices have risen by an average 9.7 per cent in Paris and by five per cent in other city centres, perhaps the result of buyers returning to the centre, wishing to be closer to their work and reacting against rising fuel costs. Nice has recorded the highest price rises, with apartments costing an average 7.27 per cent more and houses an impressive ten per cent compared with last year."

His conclusion was that for those who want to buy in France not for pleasure but investment, regional variations are worth taking note of. He also suggested now is a very good time for cash buyers to pick up a bargain, with even new builds providing some of these.

While this advice was tempered with the caveat that no investment can be guaranteed a successful return, this message was nonetheless one that France does have some prospects out there.

Mr de Rouffignac is not alone in this. For example, in an article for the same new provider last month, Francois Xavier de Vial of French real estate company home-hunts.com said: "Contrary to what some people think, now is still a good time to buy French property."

Indeed, the credit crunch may itself provide some good reasons, with tourist property possibly gaining from Britons having to spend less and therefore travel short-haul. Reflecting on this, managing director of overseas travel portal TravelMole Graham McKenzie commented this week: "I think European destinations will be the winners in all of this in the next 18 months." Such European destinations may include France.

This is a press release by Assetz also available at http://press.assetz.co.uk/articles/4497.html. Alternatively, please see our full press release archive.

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