The unusually affordable French mortgages will be unaffected by Francois Hollande’s new presidency thanks to a French political loophole.
The property market in France will not be affected by the election of socialist Francois Hollande as the vote was purely for the French Presidency.
Danny Silver, Managing Director of property development company, The Villages Group, commented on the new election and the French property market:
“The new presidency will not impact on the buying process, and with France consistently ranking as one of the most popular countries in which to live and with property prices remaining stable there is no need for potential buyers to worry.”
The currency exchange rate is likely to have a much greater impact than the new presidency, according to Trevor Legget, Managing Director of French estate agency Leggett Immobilier.
British investors are going to benefit from currency rates as the sterling strengthens against the euro.
Growing concerns regarding Greece’s potential withdrawal from the euro and promises by Hollande to increase spending also make French property especially attractive to British buyers.
Legget commented on the future opportunities for international investors:
“We are already seeing the Euro/Sterling rate hitting the 1.25 mark and with French mortgages already amongst the cheapest in Europe it looks like there will be plenty of people looking to both buy and sell over the course of the year.”
Transfer Money to France
If you are thinking about investing in French property, it is definitely a good idea to consider the logistics of transferring money abroad.
The various financial options open to potential buyers of French property will need to be carefully considered as there will be a range of rates for UK buyers to review.
So if you are looking to send money to France (which is inevitable if you are looking to make a property investment) be sure to compare the market before you finalise your choice of French mortgage.
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