British investors snap up French properties
Posted by Paul C.
France is becoming more and more popular with overseas property buyers in the UK, it has been revealed.
Foreign exchange specialist Moneycorp stated that in the last five months, monthly enquiries regarding the French market have gone up by more than a third, reports Homes Worldwide.
This is despite the fact that the British economy is currently experiencing a downturn, as well as the weakness of the pound impacting on the price of travelling to the eurozone.
Commenting on its appeal, Marc Morley-Freer of Moneycorp said: "France has always enjoyed attention from British investors."
He added that the French market is relatively stable in comparison with the UK. As a result, he believes it could be an attractive option for second home buyers from across the Channel.
According to figures from the Royal Institution of Chartered Surveyors, house prices in France went up by 3% last year.
Consider France as a Property Investment
From luxury investment spots like Cannes, Frejus and St. Tropez to the winter slopes in the French Alps, property in France is highly diversified. You can invest in a luxury villa or apartment and gain a lucrative profit from a combination of rental sales and capital appreciation.
Many areas in France have a great potential for property investment. Depending on your budget and needs, there are various schemes to choose from for investing in French property. Thus, prime properties in France can be purchased at prices well below market price.
One option is buy to let, which is where an investor purchases a new build or refurbished property and leases it to a permanent tenant, thus earning rental income on a monthly basis while the property goes up in value. With property prices in many areas of France much lower than in UK, many Britons are considering French property as an investment by purchasing houses and apartments and earning from the rental income. In some cases investors purchase these properties off plan. Despite the fact that you are purchasing into a yet-to-be-constructed property, buying off-plan offers the least cash shell-out and at a very competitive price in most cases. Furthermore, buying off-plan means that the property will be brand new, thus making maintenance and running costs minimal while offering excellent rental and resale profitability.
Yet another option is investing in reversionary property, which an increasing number of people are considering as a good alternative investment. Property is purchased from an elderly homeowner at a highly discounted price, with the usual arrangement being a payment of a minimal lump sum and monthly annuities in exchange for ownership of the property when the homeowner dies. The price depends on the age of the property owner, the location and other characteristics of the property.
Finally, a more popular investment scheme in France is the leaseback. Introduced by the French government more than 20 years ago, leaseback property is geared more towards the tourist destinations and holiday accommodations. With leaseback, an investor purchases a property, usually in a "Residence de Tourisme" (Tourist Residence) or "Residence avec Services" (Residence with Services) and earn a guaranteed monthly rental income. Leaseback properties are available all throughout the major tourist areas of France – from Brittany to Provence and the provinces in between. Most of these villas or apartments cater to short-term lets and offer a variety of services and amenities such as a swimming pool, Jacuzzi, sauna and laundry and linen services.
France is a certainly a favourite site of UK property investors. Hardly surprising, the current trend among buyers of French property is the tourist destinations and ski locations, for example Meribel and Courchevel, despite their relatively high prices. People continue to invest despite the high property values since rental yields have remained consistently high, especially in well-established resorts. Furthermore, France is fast becoming a popular place for British expats. With the faster Eurostar rail services to and from London and the future lower costs of airline routes, buying a property, setting up a second home or relocating to France has never been faster and easier.
French Mountain Property
New development for those seeking a piece of French village life
If it's breathtaking views and mountain scenery you're after, check out Le Mas de Font Caudette, a new development built with natural stone close to the picturesque village of Gordes.
Perched high up on a hill overlooking the magnificent Luberon mountains, the village of Gordes is considered to be one of the prettiest in France and is protected by stringent architectural regulations to keep it that way.
The area is home to a few small boutiques around a traditional square, as well as a few carefully chosen hotels and spas. If you're a food lover you'll be well catered for since it also houses some well known local restaurants specialising in delicious Provençal cuisine.
Buyers at Le Mas de Font Caudette will enjoy the use of a private swimming pool, terrace and covered patio. The villas offer large living spaces, five bedrooms and five en-suite bathrooms, as well as a private garage and allocated parking.
Best of all, the development is situated just 40 minutes from Avignon airport, with Nimes and Marseille also within easy reach.
For further information contact Chesterton International www.chesterton-international.com
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