Send to a friend

News

France Most Popular Investment Among British Property Buyers - 17 September 2010

France has topped Spain for the most overseas property enquiries so far this year, according to recent research.

Overseas mortgage firm Conti says that France accounted for more than 43 percent of all the enquiries they’ve had since January, whereas Spain made up 24 percent. Turkey came in third at 18 percent.

The company said that British buyers’ interest in French mortgages has tripled over the last two years. With housing prices dropping and interest rates low, British investors have been taking advantage of the French property market, while keeping in mind that France will continue to be a top destination for British holidaymakers, providing a great source of rental income in the future.

Other mortgage companies have also reported seeing a massive increase in enquiries in August, as French lenders are offering some of the cheapest fixed-rate mortgages in recent history. Some firms are touting 15-year fixed rates for 3.3 percent and 25-year fixed rates for 3.6 percent. A few banks are even wiling to advance 100 percent of a property’s value.

With these fixed-rate deals and housing prices still below market value, now is the ideal time to buy French property, say most experts.

Like France, Spain also remains popular among British buyers because it too provides great rental opportunities as well as remarkably cheap property prices at the moment. But because the country’s economy is less secure, overall buying interest is not as strong in Spain as it is in France. The French mortgage market held up much better during the recession, as financial institutions already had conservative regulations in place.

Post this article to:

del.icio.us Digg Newsvine Reddit MyYahoo! Facebook

 


Browse our articles written by leading industry experts:

Overseas Property Buying Guides

UK Property Guides

Gardens and Interiors

Cosmetic Surgery Fact Sheets

Looking Good Guides

Money

Business

Community

Travel