French property inquiries are up by 60% in the first quarter of 2016 year-on-year to a record level, says luxury home property specialist, Home Hunts.
January 2016 was the best start to the year that Home Hunts has had since launching the business in 2004.
Home Hunts Director, Francois-Xavier de Vial, says, “Sales and enquiries are up by 60% compared with last year and are at an all-time high, so it looks like we are set for a very positive year.”
It has also been a good year for negotiations due to a combination of flexible property prices, low interest rates and favourable currency pairings, according to the agency’s newly-published Spring 2016 Inside France Report.
Riviera property is booming, boosted by price falls inland, and an increase in sales in coastal locations, such as Cannes and Saint Tropez.
The EU referendum on 23 June could have an effect on British buyers’ confidence in the market, but so far there hasn’t been much of a noticeable effect.
Director, Tim Swannie says, “June’s EU referendum will certainly unsettle certain British clients, but, if there is a Brexit, I don’t believe it will greatly impact those buying property overseas.
“So far it does not seem to have affected British buyers’ appetite for French property. The pound has lost a little strength compared to last year, but it is still comparatively high if you look at it over the past five-to-six years, so British buyers can still really make the most of their budgets.”
In fact, there has been a large resurgence of British buyers, Home Hunts has found. There were also many Dutch, Belgian, German, Scandinavian, Swiss, American and Middle Eastern clients.
The report offers an in-depth look at how key areas have performed in 2015, highlights up-and-coming areas to watch-out for and factors influencing the market in France.
The LGV (Ligne à Grande Vitesse) train line will connect Bordeaux with Paris in 2017 and property is increasing value in the area.
Similarly, the TGV now runs from London to Marseille and areas of Provence are becoming more popular as a result.
Paris has seen increased sales in 2015, particularly in November and December. People see property there as a safe investment and prices are attractive compared to London.
Among up-and-coming areas are:
- Riviera: Biot, Opio, Roquefort-les-pins, Chateauneuf de Grasse – where buyers are now getting more for their money
- Provence: Bormes-les-Mimosas, Carqueiranne – excellent value for money
- Lot: Cahors, Saint-Cirq-Lapopie, Figeac – better value than Dordogne
- Languedoc: Beziers – an area undergoing a facelift and housing stock starting to move
- Alps: Samoens – not yet been fully discovered.
“In general, the conditions for buying in France are still excellent for buyers. There are also some areas in France that are offering particularly good investment opportunities, some due to improved infrastructure. For example, with the LGV (Ligne à Grande Vitesse) due to connect Bordeaux with Paris in two hours in 2017, property near Bordeaux is gradually increasing in value,” says the 10-page report.
“Similarly, now the TGV runs from London to Marseille, areas of Provence have opened up and locations around Avignon and Saint-Rémyde-Provence are becoming extremely popular.
FNAIM (national association of French estate agents) data backs up the report of increasing demand by showing a record 800,000 older properties were sold in the country in 2015.
SOURCE: opp.today
