Viva La France
Thinking of buying a property in France? A recent survey has revealed France has become the most popular destination for buyers from the UK reports Andrew Oulsnam, Managing Partner of Robert Oulsnam & Company.
With the relative collapse of the Spanish market, many would be investors are now looking to France which has always been a pretty safe haven for overseas buyers and there are many reasons why it is now the most popular. One of the key reasons is the availability of mortgage funds. France continues to enjoy a very stable property market primarily due to its financial system having been more cautious in the past and as it’s in a relatively secure situation, there is a ready supply of mortgage finance for foreign investors. In some cases it is possible to borrow up to 100% of the value of your property. In addition, interest rates recently have started at 1.95% for mortgages.
France has become an increasingly attractive investment option not only for the mortgages but also the fact the euro has been steadily falling recently and there is good access to the UK. Many sellers have had to drop prices significantly providing lower property prices for UK buyers with many sellers dropping their prices to a level not seen for many years.