The property market in France is stabilizing and likely to be boosted by the news that the country has come out of recession. The announcement of new air routes from key British destinations to four cities in the south west of France is also set to encourage buy to let property investors.
‘France is certainly getting back on its feet and there is renewed confidence in the economy with President Sarkozy high in the polls,’ said Trevor Leggett of Leggett Immobilier. It is estimated that residential property prices have fallen up to 25% in some parts of rural France but popular hotspots like the Cote d’Azur and Normandy have seen smaller price falls and steady transaction volumes.
Interest rates and mortgage rates are at an all time low and the only cloud on the horizon is the strength of the euro against the pound for UK buyers who are traditionally among the biggest group of buyers in France.
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