By Adrian Bishop
Interest in French real estate is on the rise, say international property experts.
France was second in the latest Top of the Props index from TheMoveChannel, which charts property inquiries on the website, a 20-month high.
The United States led September’s demand on 8.58% of inquiries, with France in second at 4.86%, the highest level since August 2017 and up from 3.65% a month earlier. It is the first time it has been runner-up since January 2016.
Director, Dan Johnson, says that France remains a highly desirable destination for property buyers.
“The country has always had a strong lifestyle appeal, and with mortgage rates still near historic lows, real estate is affordable as well as attractive. Indeed, for British buyers, the stamp duty surcharge on second homes in the UK means that holiday homes in easy-to-reach locations with a favourable climate are even more sought-after, outweighing previous concerns about the weakness of the pound in the wake of the UK’s Brexit vote.
“Italy, Spain and Portugal have all proven popular European destinations in recent years, but France is enjoying an added bounce in confidence following the election earlier in 2017. President Emmanuel Macron is known for his pro-business stance, which has spurred optimism among property professionals, as expectations of lowered property taxes and simpler frameworks fuel positive sentiment in the property market. Agents have reported an increasingly diverse range of investors in French property, from Europe, the USA and the Middle East. With French property prices beginning to rise again after a period of stagnation, we expect that trend to continue.”
This is the third month in a row that demand for French real estate has increased, climbing from fifth place in June.
France’s climb saw the country overtake Spain, which slipped into third with 3.92% after topping the chart in August. Germany, up nine places on 3.31% and Italy with 2.62% completed the top five.
Cape Verde, Portugal, Mauritius, which climbed 15 places, Brazil and Turkey were the next in the monthly index.
Yesterday, Halo Financial reported how the French economy rose 0.5% from July-September, pushing its annual growth to 2.2%.