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Bargain time for France

18th December 2008 | back to article listings BACK    print this article PRINT

In recent days the headlines have focused on the fall in the value of the pound against the euro, with the near parity of the two currencies being seen as bad news for anybody holidaying or investing in the eurozone.

However, when it comes to property in France this assessment may be an incomplete one. The other side of the picture is that the inevitable effects of an international downturn have helped to suppress some prices in the country, meaning that those keen on investing have a number of opportunities to do so at lower prices.

Such a point was made this week by Nicholas Marr, the chief executive of property portal homesgofast.com. He noted that the sort of deal now available in France includes offers such as those on a development in the outer Paris suburb of Bois d'Arcy, where apartments that are due for completion next year will be available for as little as €95,000 (£90,000) and offer an average annual rental yield of 4.4 per cent. All this in an area that is surrounded by protected forest, yet connected to Paris via the A12 and A13 auto routes and within 40 minutes drive of both Charles de Gaulle and Orly airports.

Mr Marr commented: "The French property market has never offered investors opportunities like this, it's a true buyers market and one that investors can benefit from. Overseas property investors know profits are made not just on the sale but on the purchase as well."

So while sterling has fallen in value, it appears this may have been more than counteracted by the shift in the market across the Channel.

That there is still much interest from Britons in buying property overseas is not in doubt, as surveys continue to show this is so. This week international property portal homesoverseas.co.uk revealed that its own survey had shown that as many as 1.4 million Britons who are not currently owners of overseas property or looking for one at present would like to buy foreign property, given the chance, in the next 12 months. Top of this list was France, which was the destination of choice for 25.9 per cent of respondents.

Commenting on the poll, editor of the site Marc Da-Silva said: "Our research categorically shows that Brits still have a large appetite for homes abroad and why not? The global property market slowdown should definitely be perceived as a window of opportunity to negotiate a property deal at a bargain basement price."

So whatever the value of the pound may be just now, those looking to buy in France may still find their money goes a surprisingly long way.

This is a press release by Assetz also available at http://press.assetz.co.uk/articles/4549.html. Alternatively, please see our full press release archive.

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