New figures show that French property is continuing to prove appealing to British property buyers.
The latest figures from Notaires de France show that overall transaction volumes and sale prices are both still rising, with the number of transactions in the year to October 2017 reaching an all-time high of 958,000. British buyers, the data shows, have played an important role in the record figures.
British buyers now account for 14 per cent of all non-resident foreign buyers in France, up from 9 per cent in 2009. What’s more, British buyers now account for 33 per cent of the purchases of the most expensive properties in France.
“Brexit had an initial impact on British buyers looking for a second home in France, though those looking to relocate forged ahead regardless,” Fleur Buckley, Property Services Manager at FrenchEntree, told Property Reporter. “Buyers of second homes or investments have since been reassured by the stabilising pound and the buoyant French market.”
Italians remain the largest purchasers of French property, accounting for 20 per cent of sales to non-nationals. However, in 2009 close to 49 per cent of all French property bought by overseas buyers were purchased by investors from Italy.
British and Scandinavian buyers come joint second in terms of foreign ownership, at 14 per cent each.
Article published 22nd February 2018