Renewed interest for property across the channel
The French Real Estate has been in the doldrums for some time now and has been lagging behind a few other European Countries in its recovery, principally the UK. However there is light at the end of the Tunnel, following the election of a Socialist Government France went through a couple of stagnant years and uncertainty, more recently the tide has begun to turn with some positive indicators in the economy brought about by the policies of the more moderate Prime Minister Manuel Valls appointed in March 2014. The overall European outlook has also taken a turn for the better with the introduction of quantitative easing, in other words the purchase of Government Bonds which should have the effect of reigniting the Euro Area’s Economy. Last but not least low interest rates which appear are going to be with us for some time, they are at an all time low and better and better deals are being offered by Banks., the effects of a “Grexit” is now expected to have little or no affect on the Eurozone economy if it should happen, the possibility of any Contageon happening would be very small, the biggest losers would probably be the Greeks who would no longer be part of a stronger European economy.
So it appears a sunny outlook for the French Real Estate market, a view taken by market experts in a PropertyEU France investment briefing recently held in London.It has been reported that Francois Rispe, managing director and regional head for Southern Europe at Prologis, noted that “France is always stronger in volumes and size of transactions than Spain or Italy and investor interest is increasing. The economy is finally turning and we can expect real positive change in 2015”
Foreign investors are beginning to increase their presence in the French property market and are overtaking the traditional dominance of the domestic investor, the French share has shrunk below 50% for the first time in the first 3 months of 2015.
North American, Middle East and Asia head the league of investors, with excellent rental yield at present property prices such players are upscaling their interest. Closer to home German investors are showing greater interest while the British have shown less interest on the back of media fuelled negativity.
This greater interest in the French Real Estate will without doubt filter down to the residential property market, for any UK resident at the moment considering a purchase of a property for investment, secondary home, permanent home there could never be a better time to buy, with the pound raging high against the Euro, rural properties at practically back to where they were in price before the previous boom, only need to check out prices on property portals, convert back to pounds sterling and anyone will see the bargain that awaits. There is at the moment an up and coming UK General Election holding back UK investors from committing themselves, when the outcome of that is known and some of the issues in Europe are resolved there should be a sudden explosion of interest, advice from over the water is that is best to start looking now and beat the rush.
Christiane who has kindly contributed to this blog lives in Burgundy in France, she moved there from UK in 1999, she has been involved in the French property business for quite a number of years now, initially with the French Property Agency based in England and then in France with Simplyburgundy. Christiane is now attached to the Estate Agency Devin Immobilier as negotiator based in Charolles in southern Burgundy, she says that her clients are still predominately French but more recently she has noticed a few more Brits looking around, she actually negotiated a puchase for a couple from Sheffield in the last month, maybe we will see more in the coming months she said, there really are some bargains to be had at the moment.Just check out our website to see our portfolio of properties http://www.devin-immobilier.com/
Any contact regarding Burgundy property should be made to Christiane via the website http://www.devin-immobilier.com/ or directly to her at simplyburgundy@aol.com
She can be contacted on land line 00 44 03 85 25 81 06 or mobile 0686685442 not to worry she speaks both English and French.
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