26 June 2012
Brits ranked the third highest foreign investors in French residential property
British buyers are the third highest foreign investors in French property with 9% market share, just behind Portugal on 13%.
French expats are ranked the largest buyers of French property abroad at 14%, according to the latest ‘Investing & Living abroad’ report by BNP Paribas International Buyers.
The report, carried out annually, revealed a positive outlook with 27% of investors who already own property outside their home country, and 42% stating that they are considering another purchase soon, with 50% focusing on France.
Although the number of transactions in France made by British buyers plummeted by an average of 24% between 2010 and 2011, the British outlook on the French market is particularly positive, with 57% of buyers expecting prices in France to increase.
The research also revealed that overall amount of transactions rose by 4.5%, driven by Ile-de-France (the Paris region), with the average amount of funding increasing by 12% to €232k; the use of credit also increased by 6% to 29% in 2011. In addition, the average price per transaction went up 12% to €265k, the highest in four years.
In terms of area, both Ile-de-France and the South of France are the most popular locations among British and Irish investors, making up 75% of all transactions. Ile-de-France has seen an increase of 2% in transactions and an increase of 12% in the average amount per transaction, now standing at €311k.
British investors continue to seek properties where they can ‘get more for their money’, opting for locations such as the South, the West, the Alps and Paris.
Most other countries’ investment in France has fallen, with the notable exception of Switzerland and Russia, whose investment into French property has risen by 29% and 34%, respectively, and whose preference is for the Province over Ile-de-France. The share of investment from Asia has risen from 6% in 2009 to 10% in 2011.
When thinking about purchasing French properties, 80% of international buyers search on the internet to find a property, with 48% stating that they would not have found their property in France without using the web. The British and the Belgians are the most likely international buyers in France to use the internet extensively, whereas the Italians and Dutch remain more focused on direct contact.
This reliance on the internet has been understood by the market, with 80-100% of estate agents’ communication budgets now being spent on this medium.
- 06.12.2013 | Autumn Statement – business rates overview ...
- 05.12.2013 | Autumn Statement 2013 - Business Rates ...
- 05.12.2013 | Autumn Statement 2013
- 25.11.2013 | Charter Place, St Helier, Jersey sold for £9.45m ...
- 05.11.2013 | Is it the right time to invest in Spain? ...