British demand for French property rebounds

  • 9 years ago
  • Uncategorized
“Once in a decade” conditions have seen British demand for French property rebound, according to agents.
Leggett Immobilier’s sales in the first quarter of 2015 have jumped by 40 per cent, as affordable prices and low mortgage rates combine with the weak euro to boost spending power for Brits. Demand was given another lift, though, with May’s election victory for the Conservative Party.
The majority government has already seen activity in London soar, as confidence among investors returns. The election, though, has also had an impact overseas, as the pound strengthened on the back of the optimistic outlook and property prices in the UK began to rise once more, increasing the amount of equity available to buyers planning to sell up and move overseas.
Trevor Leggett, Chairman of Leggett Immobilier, says that these are “once in a decade” conditions and that sales have exploded since the start of May.
“It was a timely photo opportunity between David Cameron & Francois Hollande in Paris yesterday,” he comments. “One could almost imagine the British premier asking M Hollande whether yields are better in the 8th Arondissement or on the Cote d’Azur.”
Indeed, a property in Paris worth €850,000, for example, would have cost around £725,000 this time in 2013, around £695,000 this time last year and just £605,000 today – a saving of around £120,000 over the last two years. 
The comments follow strong demand from buyers at May’s A Place in the Sun Live exhibition, when there was “stand room only” at seminar areas relating to French property.
The exchange rate was a key topic of conversation at the exhibition, especially given how the rate had moved on the Friday, and shows a growing awareness amongst buyers to send funds overseas in the most efficient way,” said Elaine Ferguson, Head of the Resource Centre at, highlighting France as a favourite.
Mortgage broker Conti, meanwhile, says that France is the second most popular country among clients, accounting for three in 10 enquires in the first quarter of 2015, behind only Spain (54 per cent).

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