France remains a 'buyers market' for property abroad

21 July 2008 / by Rebecca Sargent
As the UK property market is repeatedly struck by the credit crisis, France is enjoying a unique position amidst worldwide financial turmoil.

According to reports, France, which has always been a popular holiday destination with Brits, is also a favourite with British buyers, and this has not changed as yet.

Property in the UK is falling in price but so too is activity on the housing market as mortgages become hard to come by, but France tells a different story. According to experts, house prices in France are falling; however, deals are still available, making France a popular choice when it comes to buying property abroad.

Unlike the UK, France managed to keep its exposure to the sub-prime mortgage market to a minimum, putting the country in a stronger position today. In fact, the governor of the Bank of France, Christian Noyer, was recently reported as saying that when it came to property finance in France, there was not the same risk as there was in the US.

According to a sector commentator, buying in France is soon set to be a 'better bet' than Spain. It seems that Spain is suffering a similar fate to the UK as it attempts to weather the financial storm. News today is that one of its largest property developers has collapsed, causing significant losses for hundreds of home buyers.

Experts warn potential French property buyers and investors to consider the regional aspects of France and how this may affect an investment, stating that, although the country is suffering a downturn at the hands of rising food and fuel costs, different areas are performing better than others.

According to industry specialists, unless investing for pleasure and lifestyle, potential investors would be wise to carefully study an area of interest, including positive trends and long-term prospects, buying property in France.

© Fair Investment Company Ltd