French property sales to foreigners up 21 per cent

Friday, July 15, 2011

French property sales to foreigners up 21 per cent

The sale of French homes to overseas buyers increased by 21 per cent last year, from 42,300 in 2009 to 51,200, according to a new 'investing & living abroad' survey by BNP Paribas.

The capital city of Paris has long been identified as one of the most attractive European cities to own a holiday home or property investment, and is typically the most popular place to buy a home in France, along with the Cote d'Azur.

"This healthy increase in transaction numbers is sure to attract some eye catching headlines and it does sit comfortably alongside our own view of the market, where enquiry levels and sales figures are both up on last year," said Trevor Leggett of French property agency Leggett Immobilier.

He said that properties in France are generally popular because they are sensible priced by vendors who acknowledge the difficult financial climate and stringent mortgage lending conditions.

Mr Leggett added: "We too have found that buyers are spending more and we have been particularly active at the top end of the market on the Cote d'Azur and other prime areas."

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