Overseas property investors interested in purchasing French property are being urged to research areas of interest due to the extreme diversity in the property market in France.
As demand for holiday homes in France increases, property experts are warning potential buyers of French property to research the area before fully committing.
Owner of French estate agents Le Bonheur, Edward Landau, urged British buyers to consider the number of different markets in rural property in France before making the move overseas.
Mr Landau said those investing money overseas make up a key segment in the purchasing of a holiday home in the Gallic country.
He said: “There are foreign clients looking to relocate to create a new lifestyle - this is a slow and steady sector of the market driven by lifestyle decisions.”
He continued to say the sector is not likely to suffer from fluctuations in the global market or prices, as it is mostly made up of individuals looking to change their lifestyle and personal circumstances which makes them unaffected regarding the property’s investment potential.
Since the exchange rate became more appealing to Brits in recent months, the number of UK individuals looking to purchase a holiday home in France has increased.
Landau concluded: “Finally, there are investment property buyers, which are a growing market due to insecurity in the euro and financial markets.”
Experts have said investors who research the market are likely to bag a bargain when purchasing property due to the continued weakness of the economy in Europe.
Transferring money to France
If you are looking to invest in France, think carefully about how you will be transferring money to France. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.
So if you are sending money to France – which you will inevitably have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.
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