French property is increasingly becoming the subject of much interest, according to one expert. Leggett Immobilier, a leading international estate agency in France, explained that market conditions are attracting buyers to the country. During the first quarter of 2013, the company experienced a "steady increase" in investors and claims this is thanks to low mortgage rates and sensible pricing.
It is certainly true that conditions are becoming more and more favourable for buyers across the channel. Mortgages are now at their lowest level in 65 years and the recession has forced vendors and sellers to bring down property prices to more affordable levels. However, investors will still need the capital behind them to obtain French real estate as lending is still relatively constrained, mirroring conditions in the rest of Europe.
What's more, the property market isn't exactly in good health at the moment, although there are signs of improvement. Trevor Leggett, chief executive of Leggett Immobilier, commented: "We understand that the overall number of property sales in France fell by 20 per cent to 655,000 last year and that this year is likely to see a similar number of transactions. However, it's clear that many people are also convinced that the market will improve over the coming years and with the cheap money available that now is the time to buy."
He added that he has received "anecdotal evidence" that vendors are also becoming more realistic with their pricing, understanding that high values will not wash in the current climate. This was demonstrated by a recent sale by Mr Leggett's team in Brittany, in which two Parisian buyers arrived with financing in place, drove a hard bargain and gained a good value for money property.
However, it isn't just the French who have realised that there are bargains to be had in the French property market. "France has historically been the favourite destination of UK property buyers who love the sunshine, countryside and relaxed way of life," Mr Leggett stated. During A Place in the Sun Live last month, Leggett Immobilier in fact noticed a swath of Britons surprised by the value for money French property could offer them.
Article by +https://plus.google.com/100585359199579398168?rel=author on behalf of Propertyshowrooms.com
It is certainly true that conditions are becoming more and more favourable for buyers across the channel. Mortgages are now at their lowest level in 65 years and the recession has forced vendors and sellers to bring down property prices to more affordable levels. However, investors will still need the capital behind them to obtain French real estate as lending is still relatively constrained, mirroring conditions in the rest of Europe.
What's more, the property market isn't exactly in good health at the moment, although there are signs of improvement. Trevor Leggett, chief executive of Leggett Immobilier, commented: "We understand that the overall number of property sales in France fell by 20 per cent to 655,000 last year and that this year is likely to see a similar number of transactions. However, it's clear that many people are also convinced that the market will improve over the coming years and with the cheap money available that now is the time to buy."
He added that he has received "anecdotal evidence" that vendors are also becoming more realistic with their pricing, understanding that high values will not wash in the current climate. This was demonstrated by a recent sale by Mr Leggett's team in Brittany, in which two Parisian buyers arrived with financing in place, drove a hard bargain and gained a good value for money property.
However, it isn't just the French who have realised that there are bargains to be had in the French property market. "France has historically been the favourite destination of UK property buyers who love the sunshine, countryside and relaxed way of life," Mr Leggett stated. During A Place in the Sun Live last month, Leggett Immobilier in fact noticed a swath of Britons surprised by the value for money French property could offer them.
Article by +https://plus.google.com/100585359199579398168?rel=author on behalf of Propertyshowrooms.com