Real Estate & Economic News in France from Propertyshowrooms.com

France to be the country of choice for pensioners?

Fri, 20 Apr 2012 00:00:00 GMT

People whose retirement is not too far off may be increasingly considering buying property in France after the recent controversy over tax allowances for pensioners.

Chancellor George Osborne's Budget 'granny tax' announcement last month on personal allowances will see pensioners having their tax allowances frozen from 2013, bad news for those approaching their 60s.

French real estate expert and MD of The Villages Group Danny Silver suggested this could be a factor in persuading older people not to hold pensions in the UK.

"This so-called 'granny bashing' has generated a lot of controversy over the last month and it is likely that the bad feeling amongst UK pensioners could well spark British retirees to flock overseas," he remarked.

It may soon be cheaper to buy in France as the Global Property Guide report recently suggested the market in the country is slowing down.

The guide based this projection on figures from the National Association of Real Estate Agents in France, which showed growth in the final quarter of 2011 was substantially lower than in the three months to October.

France 'a popular destination for retirees'

Wed, 14 Mar 2012 00:00:00 GMT

Brits are increasingly considering purchasing a property overseas when they retire due to the high living costs in the UK.

Managing director of The Villages Group Danny Silver cited figures from the National Association of Pensions Funds, which revealed around one-third of retirees would prefer to move abroad to locations such as France.

Mr Silver described the European nation as "the ultimate retirement destination" thanks to its culture, food and proximity to the UK.

"As more and more people in their third age see their living costs rise and their standard of living drop, it is hardly surprising that they are looking for better deals overseas," he asserted.

The Knight Frank Global House Price Index published earlier this month revealed that France's residential real estate market is holding up relatively well in comparison to its eurozone counterparts.

French property values climbed by 4.3 per cent over the course of 2011, indicating the sector has greater stability than other popular European retirement destinations, such as Spain and Portugal.

Parisian properties 'most expensive to rent'

Tue, 13 Mar 2012 00:00:00 GMT

Paris has been named as the most expensive city in the world for those seeking rental accommodation.

According to figures published by Savills, Paris is now marginally ahead of London in terms of how much it costs to rent a property, while it is also the third most expensive location in which to purchase a home.

Yolande Barnes, head of the firm's residential research division, highlighted "strong occupier demand" and "relatively low capital values" as the two main reasons why investors are attracted to the French real estate market.

The average yield for rental properties in Paris currently stands at around 4.5 per cent, which is lower than the return achieved on assets in New York, Moscow, London and Sydney.

A recent CB Richard Ellis survey revealed the French capital is also the location of choice for commercial property investors, with the city attracting more funds in the second half of 2011 than its nearest rival London.

Luxury home prices fall in French Riviera

Wed, 18 Jan 2012 00:00:00 GMT

The value of luxury properties in the French Riviera fell in 2011, according to one estate agency specialising in the region.

EstateNetFrance revealed that the average price of real estate in the French Riviera and Monaco dropped by 5.06 per cent over the past 12 months, however, the rate of sales increased.

The agency recorded a 16.29 per cent jump in the number of transactions completed during 2011, with the firm noting the region is considered a "secure, long-term investment", which has helped drive interest in property here.

On average, a luxury home in the French Riviera or Monaco now costs €2,117,349 (£1,754,580), with the majority of high-end real estate assets on the market in the €1 million to €3 million price range.

According to the most recent Global House Price Index published by Knight Frank, France is one of the European nations to see the value of its residential property rise in 2011.

In the firm's latest table, the country saw real estate prices climb by 6.7 per cent between the third quarter of 2011 and the same period in 2010.

Property sales in south of France expected to rise

Mon, 10 Oct 2011 00:00:00 GMT

There are likely to be more homes put up for sale in the south of France over the coming months, one local estate agency has claimed.

Estate Net France believes that the introduction of a new capital gains tax, which will affect all property owners in the country, will result in an increased number of houses coming on to the market.

The organisation noted that these may even be offered at reduced prices by vendors who are keen to shift their asset before the tax comes into force on February 1st 2012.

According to Estate Net France's Luxury Property Index for the French Riviera and Monaco, the values of homes priced at €1 million (£868,616) or more remained stable during September, recording a 0.64 per cent rise over the month.

However, the company pointed out sales of real estate in this region of France have risen by 2.19 per cent since August.

Under the current regulations, capital gains tax is payable in its entirety for the first five years of property ownership and is reduced by ten per cent for the next decade, when it is then possible to sell the home tax-free.

However, the new rules will see capital gains tax paid in full for the first five years, with progressive reductions between years five and 16, years 16 and 24 and years 24 and 30 of two per cent, four per cent and eight per cent respectively.

Property prices in French ski resorts 'bounce back'

Wed, 21 Sep 2011 00:00:00 GMT

The value of properties located in the French Alps has recovered from the global recession, with eurozone buyers helping to boost the market.

This is the finding of the latest Knight Frank Ski Index, which evaluates the performance of real estate in key winter sports locations.

According to the organisation, the resorts of Courcheval, Megeve and Val d'Isere have shown the strongest performance in terms of sales activity.

Liam Bailey, head of residential research at the firm, explained that this kind of French property is performing better because it has become less seasonal.

"Summer tourism, often involving hiking and climbing, particularly in the Alps, has helped to increase rental incomes for many second home owners," he noted.

Overall, Knight Frank found that annual price growth for ski properties Europe was 1.7 per cent during the second quarter of this year.

Earlier this month, Propertywire reported on figures published by French organisation FNAIM, which revealed that real estate values in France recorded an average increase of 3.3 per cent in the three-month period from April to June, compared to the previous quarter.

French property prices rise

Mon, 12 Sep 2011 00:00:00 GMT

Properties in France have recorded their fifth consecutive quarter of price rises, the latest data published by FNIAM shows.

According to Property Wire, the organisation - which represents more than 1,700 estate agents in the country - recorded a 3.3 per cent quarterly increase in real estate values.

This year alone, average prices have jumped by 6.8 per cent so far, the news provider noted.

However, FNIAM is predicting that the market will stabilise by the end of 2011, adding that house values could even decline before the year is out.

Chief executive of Leggett Immobilier Trevor Leggett told the publication that it is important that both buyers and sellers remain realistic about French house prices, stating "sensible pricing will mean that transaction levels remain consistent and both buyers and sellers will benefit".

Meanwhile, RFI reported yesterday (September 8th) that property values in Paris have risen by 22.5 per cent in the last year, making this the biggest hike the real estate sector in the region has seen in two decades.

French house prices rise

Mon, 5 Sep 2011 00:00:00 GMT

The value of homes in France has risen dramatically in the year ended during the first quarter, Global Property Guide has reported.

Figures from the National Institute for Statistic and Economic Studies revealed a 9.1 per cent increase in prices during the period, the news provider stated.

During the first three months of 2011, the cost per square metre for apartments in Paris jumped by 17.11 per cent, while large rises were also recorded for houses in Ile-de-France - the region in which the capital is located - and the Petite Couronne.

Marseille and Lyon experienced year-on-year hikes of 7.2 per cent and 17 per cent respectively among residential real estate values, compared to the first quarter of 2010, the publication noted.

Last month, founder of PropertyJounalist.com Marc Da-Silva stressed that there are some "fantastic opportunities" for investors in Europe at present.

He noted that there is the potential for good rental yields to be achieved in many areas across the continent.

Provence property market is "healthy"

Fri, 8 Jul 2011 00:00:00 GMT

The real estate sector in Provence in France has been described as "healthy" by one local expert.

Speaking to the New York Times, owner of Your Provence Antoine Reguis explained that properties in the region usually sell within four to six months of going on the market.

He went on to explain that the price of a home in the area will often be pushed higher if it has a large garden or other associated land, noting that village houses with a garden can sell for as much as 800,000 euros.

Meanwhile, managing director of real estate firm Un Mas en Provence Marie-Madeleine Nelson told the publication that there has been a downward movement of values, but that "prices are still high, in spite of a slight decrease in 2010".

She claimed that the drop was a necessary part of the property sector's overall correction.

Last month, French president Nicolas Sarkozy announced that plans to introduce a second homes tax in the country had been shelved. The levy was set to affect around 360,000 residences and would have been a significant expense for those owning second properties in the nation.

Property prices in Paris expected to fall

Sat, 25 Jun 2011 00:00:00 GMT

The value of property in Paris is likely to drop over the coming six months, with one local expert noting that prices are "more negotiable than before".

In an interview with Overseas Property Professional, Gilles Martinetti, director of Papty, predicted that the market will see values dip by around five per cent before 2011 comes to a close.

"The market will continue to slow, though not dramatically. Prices may fall five per cent in the next three to six months. It could reach ten per cent by the end of the year but that's very unlikely," he asserted.

Mr Martinetti's predictions are backed up by figures published earlier this week by Databiens.com, which showed that average values in Paris were down by three per cent between January and May.

Founder of the research organisation Laurent Lakatos commented that an increasing number of properties are being put on the market at discounted prices.

According to Databiens, the amount of time it takes to sell a property in the French capital has nearly doubled over the past 12 months.

Mortgages rates hit historic lows in France

Wed, 3 Nov 2010 00:00:00 GMT

Individuals looking to buy property in France may be interested to learn that the cost of borrowing in the country is now at its lowest level since the Second World War.

Average rates fell to as low as 3.3 per cent during October as a result of low government debt, industry group Athena Mortgages claimed.

In its latest outlook report the company pointed out that recent figures show that transaction numbers are also increasing in France which is having a knock-on effect on house prices in the country.

"Quite simply, the cost of borrowing money in France has never been this cheap or secure for such a large number of people before," John Busby, director of Athena, said.

"The euro may be strong now, but the fact that you can access near 100 per cent funding means that it does not matter what the exchange rate is. The long term value of low rates, combined with low property prices, far outweighs any currency considerations."

French property prices remain stable

Wed, 20 Oct 2010 00:00:00 GMT

Property prices in France have remained stable during the third quarter of 2010, according to the latest index published for the country.

However, individuals looking at Provence-Alpes-Cote d'Azur property for sale or Aquitaine real estate listings may be interested to learn that the figures show that prices in both regions increased.

Statistics from FNAIM, the national association of French estate agents, show that the majority of regions in France have been able to survive the worst of the downturn.

Indeed, the outlook for real estate in the country remains positive, with sales activity expected to rise and transaction levels predicted to exceed 700,000 this year.

FNAIM is also forecasting price increases of between two and three per cent by the end of 2010.

One of the main reasons for the improved predictions is the fall in mortgage interest rates, which are at their lowest for over 50 years.

In addition, the prospective end to mortgage tax relief and a reduction in tax breaks for investment properties, effective from 1st January 2011, are also helping buyers and sellers.

Property prices in Paris 'reach record high'

Tue, 14 Sep 2010 00:00:00 GMT

Property prices in Paris have reached record highs, according to latest figures, which may interest people looking to invest in the French capital.

Data from the city's Notary's Association of Paris highlighted that prices have increased 7.8 per cent in the past 12 months, and could be set to rise further as demand outstrips supply, reports Property Wire.

According to the association, the situation in Paris is similar to that across France, where economic confidence following the global downturn has led to property price increases.

However, the body's president Christian Lefebre warned that the interest rates on property, which are currently very low, are likely to rise in the medium term, which will reduce what buyers can pay.

"To live in Paris is becoming a luxury. Apartments are sought after like gold dust," he added.

Last week, John Busby, director at Athenamortgages.com, said there has never been a better time for people to buy property in France as interest rates are so low.

Income drives European property market

Fri, 23 Jul 2010 00:00:00 GMT

The European property market is driven by income, according to a new report.

Invista Real Estate Investment Management's research discovered that over the last two years, the European property markets have continued to deliver attractive income returns, Property Magazine reported.

The income return on global information business IPD's Eurozone Index increased from 5.1 per cent in 2007 to 5.6 per cent at the end of 2009.

This is its highest level since 2003 and was able to cushion the impact of declining capital values.

As interest rates are expected to remain low in the short term, Invista expects to see an increasing amount of investor capital seeking income-producing property investments.

"Taking into account the subdued outlook for rental growth across Continental Europe, we therefore expect investors to remain focused on preserving and enhancing income returns at their currently attractive levels, and thus are unlikely to be attracted to higher risk, capital growth investments," Tim Francis, director of continental European strategy and research at Invista, commented.

Invista Real Estate Investment Management is the largest UK-listed real estate fund management group.

Housing market expected to stabilise in France during 2010

Tue, 16 Feb 2010 00:00:00 GMT

Property prices in France are expected to stabilise during 2010, according to the latest statistics.

A report by overseas housing network website Property Community shows that the latest housing data for the country highlights that values have fallen in consecutive years.

The figures released by FNAIM, France's real estate agency, show that over the course of 2009 prices fell nationally by 4.9 per cent.

A year ago the organisation was predicting a ten per cent fall in prices, more than double the actual figure.

However, the agency is predicting a more positive year, saying that the market should stabilise and some areas could see a three per cent increase in prices.

FNAIM president Rene Pallinourt cites the availability of cheaper loans and more consumer confidence as being the main drivers behind the market.

However, he warned that although France appears to be recovering well from the economic crisis, many people in the country still remain "downbeat".

International Property Magazine recently placed France at the top of its Quality of Life Index for the fifth year in a row.

EU out of recession

Mon, 16 Nov 2009 00:00:00 GMT

The EU is now out of recession, official figures from Eurostat have revealed.

Data for the third quarter of 2009 has shown that across the 27-country bloc as a whole, there was a 0.2 per cent increase in gross domestic product.

In the eurozone, the level was greater at 0.4 per cent.

Those keen on buying property in Portugal may be particularly encouraged, as the 0.5 per cent seen in the second quarter was surpassed by 0.9 per cent expansion in the following three months.

Another country to see an improvement was Italy, which emerged from recession with a 0.6 per cent rise in gross domestic product.

Meanwhile, France saw 0.3 per cent growth for the second quarter in a row.

These figures contrasted with those of some countries that are lagging behind, with seven states for whom data for the three months to September is available still in recession, the UK being among them.

Today's figures follow data earlier this week from Eurostat showing a 0.3 per cent increase industrial output in the quarter.

France and Italy tipped for growth

Wed, 14 Oct 2009 00:00:00 GMT

France and Italy have emerged as countries appearing set for strong economic growth in the months ahead.

The latest composite leading indicators (CLIs) from The Organisation for Economic Co-operation and Development show the two countries - which are already out of recession - to have seen respective improvements of 1.3 points and two points in August

This put France up 6.6 points higher than in August 2008, while the annual improvement in Italy was 10.4 points.

Such figures may suggest that the property markets in those countries will be able to enjoy healthy growth as a result of strong economic recoveries.

France has already had a potential boost in recent days with news that the uSwitch.com Quality of Life Index has rated it the best of ten major nations in Europe as a place to live.

This was based on factors such as life expectancy, healthcare investment, the cost of living and weather.

Eurozone economic recovery 'gathering pace'

Sat, 5 Sep 2009 00:00:00 GMT

The Eurozone is seeing its economy gather pace, the Organisation for Economic Co-operation and Development (OECD) has stated.

In its latest Interim Economic Assessment the body has said the Group of Seven leading economic nations will see their total fall in gross domestic product for 2009 amount to a dip of 3.7 per cent, compared with the previous forecast of 4.1 per cent.

It stated that the places where the outlook is improving are the eurozone and Japan, something that may encourage those thinking of buying European property in places such as France or Portugal.

The OECD also said the outlook for the US is unchanged, while Britain's outlook is less positive than it was.

People thinking of buying in Europe may take the projection as confirmation that the economic fortunes that could underpin a rise in property values are starting to emerge.

Recent official European Union data showed that in the second quarter of the year both France and Portugal saw 0.3 per cent growth, taking those countries out of recession.

Value of sterling 'poised to rise'

Thu, 20 Aug 2009 00:00:00 GMT

The pound is set fair to rise in value against the majority of overseas currencies in the coming months, an expert has said.

Evaluating the pound's prospects, currency strategist at foreign exchange firm HiFX Marc Cogliatti remarked: "Things are pretty encouraging."

He added: "And overall that will continue to allow the pound to appreciate against the vast majority of its counterparts."

Such a situation could help make property in countries such as the US more affordable.

The one area of uncertainty concerns the price of sterling against the euro, following news that France and Germany are now out of recession while Britain is still in it.

Mr Cogliatti remarked that while people should not get "carried away" with this data, it does ask "a few questions" about the future directions of the euro and pound.

The comments came after France and Germany both showed 0.3 per cent growth in the second quarter of this year.

Official figures in Britain recorded a 0.8 per cent decline over the same period, the fifth successive quarter of negative growth.

French property market 'very calm'

Tue, 18 Aug 2009 00:00:00 GMT

The French property market is "very calm" and not subject to the sort of credit crunch problems seen in the UK, it has been stated.

In an article for mortgage-solutions online on obtaining home loans abroad, Micheal Axelrod, an overseas mortgage expert with Conti Finance stated: "French banks are immensely careful about whom they lend to."

He added: "To limit risks, most of them spread their investments much more widely than those in the US or UK."

The article added that for this reason they will still be willing to lend 100 per cent loan-to-value (LTV) mortgages to those considered a reasonable risk, with 80 per cent LTV deals being "pretty normal".

It went on to suggest that now could be a good time to invest with overseas interest rates being low.

As part of the eurozone, France has seen its interest costs plummet as the European Central Bank has trimmed its main refinancing rate from 3.75 per cent last October to one per cent now.

French prospects in possible boost as recession ends

Fri, 14 Aug 2009 00:00:00 GMT

The French property market could be in line for a boost as new figures have revealed that the country came out of recession in the second quarter.

After 12 months of decline, France saw its economy grow by 0.3 per cent between April and June, defying the expectations of analysts and ministers.

A Reuters poll had predicted a 0.3 per cent decline in gross domestic product (GDP) and economy minister Christine Lagarde described the figures as "very surprising".

News of the growth came at the same time as Germany also emerged from recession with a 0.3 per cent GDP rise.

Such news may help bolster confidence in the French property market and increase the prospects of values rising over the next few month and years.

One causal factor in the recovery of France may be the low euro interest rate.

The main refinancing operations rate currently stands at one per cent, having been reduced from a level of 3.75 per cent since October last year.

Britons 'selling French properties to each other'

Mon, 22 Jun 2009 00:00:00 GMT

An estate agency has said that many Britons are selling up their properties in France – but other UK buyers are the main customers.

The Daily Telegraph reported that the high value of the euro and the gains this offers for sellers mean it is a good time for some to cash in, while others want to move back for lifestyle reasons.

However, the bulk of customers at estate agency Winkworth are Britons, the paper noted.

Representative of the firm Roddy Aris said the British sellers are in a good position, stating: "The advantage is that they can take lower offers than their French counterparts. They can take a bigger hit."

Such a situation may mean that UK investors can negotiate a bigger discount when buying in the country from fellow Britons.

Lifestyle reasons are a major draw for people to continue wanting to live in France, a poll of expats has shown this week.

The survey by NatWest revealed the country was the most favoured European nation for quality of life.

French property seekers offered new reasons to buy

Mon, 25 May 2009 00:00:00 GMT

Those wanting to buy a property in France are being offered new kinds of incentives to do so by developers, it has been stated.

In a feature on changing practices, the Independent noted that the tactic of developing new homes alongside tennis courts or golf courses was giving way to more localised themes.

An example given was that of the cookery and archery lessons offered as part of package by French property firm Garrigae.

Company owner Cecile Viennet told the paper: "All the activities in our resorts have been selected for their authenticity, allowing for the discovery of local traditions."

One part of France that may be able to concentrate strongly on cultural themes when looking to attract investors is Marseille and Provence.

This area has been chosen to share the title of European City of culture 2013 with the Slovak city of Kosice, something that may help enhance its attraction to investors.

French In Protest Over Economy

Thu, 29 Jan 2009 00:00:00 GMT

France is braced for 'Black Thursday' as hundreds of thousands of workers go on strike in protest at the government's handling of the economic crisis...

Pound's value 'impacting France property sales'

Wed, 21 Jan 2009 00:00:00 GMT

The declining value of the pound against the euro has resulted in fewer Britons looking to purchase property in France, it has been claimed.

According to the Agence France Presse, the slump in the pound has caused fewer Britons to look to buy property in the country, with visitors to this month's France Show in London admitting they are having to postpone purchases until sterling regains its strength.

Director of foreign exchange specialist Currencies Direct Mark O'Sullivan told the news source that the current trade values of the euro could remain constant "for the next couple of years".

"This move down is a shock, but it could be the kind of path of things to come," he was quoted as saying.

One country where the pound's current value could benefit investors is Brazil, which Halifax states is increasing in popularity with holidaymakers as they look for alternative destinations outside of the eurozone during the credit crunch.

ECB announces euro interest cut

Mon, 19 Jan 2009 00:00:00 GMT

The European Central Bank (ECB) has announced a cut in its main interest rate, bringing the figure down to two per cent.

A reduction of 50 basis points has been implemented by the bank, the fourth time the rate has been lowered since September of last year.

President of the ECB Jean-Claude Trichet explained that the move had been made in response to falling inflation and the onset of a recession in the eurozone.

However, he noted that the bank will watch the economic situation "very closely" before deciding whether or not to make further cuts.

Property investors who are looking to purchase real estate in European countries such as France or Italy may benefit from the move, as the pound has already risen in value against the euro since the reduction was announced.

David Mbaziira of Currencies Direct recently stated that the recent base rate cut by the Bank of England could also benefit investors, telling French Property News that the reduction may prompt overseas buyers to "relocate their assets".

Base rate cut 'could benefit French property market'

Mon, 12 Jan 2009 00:00:00 GMT

Yesterday's base rate cut by the Bank of England's monetary policy committee could help investors looking to purchases property in France, one finance expert has suggested.

David Mbaziira, marketing manager of Currencies Direct, told French Property News that the cut, which has brought the UK base rate down to 1.5 per cent, is helping the exchange rate between the pound and the euro to become more favourable.

"Vendors and agents, particularly in France, will seek to capitalise on this influx and as an alleged European recession creeps ever nearer prices should stabilise," he told the news source, adding that investors may choose to "relocate their assets" as a result of mortgage products in the UK getting cheaper.

Investors who have benefited from the rate cut may wish to consider purchasing ski resort property in the country.

A report from market analyst Protourisme found that accommodation in the Alps and Pyrenees was over 75 per cent full at the start of the winter sports season.

Sarkozy and Brown plan further European aid

Wed, 10 Dec 2008 00:00:00 GMT

French president Nicolas Sarkozy believes a fresh fiscal stimulus will help Europe through its predicted economic decline and therefore ensure France remains an attractive location for overseas property investment.

President Sarkozy joined forces with prime minister Gordon Brown and European Commission president Jose Manuel Barroso to call for a Europe-wide aid package to fight off a recession, with the measures planned by US president-elect Barack Obama used by the leaders as evidence that their proposed course is the right one.

Mr Sarkozy also denied claims that a rift had developed between the leaders of France and Britain on one side and Germany on the other.

German chancellor Angela Merkel is thought to be skeptical of the plan and was absent from the summit held in London yesterday (December 8th).

However, Mr Sarkozy said there is "no disagreement" between the countries.

France recently announced a 20 billion euros stimulus package of its own which targets the auto and construction sectors.

Visit our off-plan property France page

Interest rate cut could benefit French property market

Sat, 6 Dec 2008 00:00:00 GMT

The Bank of England's decision to reduce interest rates to 2% is expected to have a positive impact on the property market in France.

Property agents in the country have seen prices fall recently, but Rajesh Agrawal of currency specialist RationalFX said a boost to the UK economy could have a knock-on effect in France.

He told French Property News: "With France being so accessible nowadays it is one area that could really benefit from the UK turnaround.

"Northern France in particular could reap the benefits of the UK market picking up and exchange rate negatives could easily be outweighed by the projected jump in prices."

Karen Tait, editor of French Property News, said investors should not be discouraged by the current economic situation and urged buyers to take advantage of the "real property bargains" currently available in France.

The Bank's latest cut, which follows last month's reduction of 1.5%, has brought interest rates in Britain to their lowest level since 1951.

Visit our off-plan property France page.

France in €10.5bn top six bank aid

Tue, 21 Oct 2008 00:00:00 GMT

The French government is to inject €10.5bn (£8bn) into France’s six largest banks in a bid to shore up their balance sheets and ensure they continue to provide credit to consumers and businesses...

France unveils bank rescue plan

Mon, 20 Oct 2008 00:00:00 GMT

The French government will inject 10.5bn euros into the country's six largest banks, the finance minister announces...

French bank execs resign over $1.1b trading scandal

Mon, 20 Oct 2008 00:00:00 GMT

Three top executives of one of France's leading banks have resigned over $1.1 billion loss, connected to the global financial crisis...

French bank admits trading loss

Fri, 17 Oct 2008 00:00:00 GMT

The French bank Caisse d'Epargne admits that it lost 600m euros in a derivatives trading incident...

Employees plan to emigrate

Wed, 10 Sep 2008 00:00:00 GMT

The overseas property market could be boosted by growing migration from the UK, new figures have suggested.

According to a study by YouGov, one in four British workers are considering relocating to another country.

The ongoing downturn in the domestic economy, which the chancellor has described as the worst in 60 years, was named as the main reason for this development.

Andy Brown, spokesperson for YouGov, commented: "These results show how quickly employees are responding to the nose-diving British economy."

While the figures may be alarming for businesses in the UK, they could represent good news for the overseas property industry, as professional expats may opt to purchase a residence in their new home.

According to a recent poll commissioned by the government, young people in Britain are particularly keen to live and work abroad.

The study revealed that many 11 to 18-year-olds in the UK aspire to develop their careers in places such as Spain, Italy and France.

Britons take the train to France

Thu, 7 Aug 2008 00:00:00 GMT

A record number of leisure travellers are choosing to take the train to France, according to new figures.

Eurostar has revealed that in July 2008, passenger numbers rose by 16.8 per cent on the previous year to more than 900,000.

The recent introduction of a high-speed rail link between London and Paris was said to be one of the main reasons behind the increase.

Simon Montague, director of communications at Eurostar, stated that this is because it has helped draw customers away from airlines.

He commented: "Eurostar is persuading even habitual flyers to switch from plane to train for their holidays and business trips."

Mr Montague added that he is "delighted" that the monthly passenger numbers have broken previous records.

This comes after Eurostar revealed that passenger numbers during the first quarter of the year were 21.3 per cent higher than the amount recorded 12 months earlier.

Fuel costs hit Air France profits

Tue, 5 Aug 2008 00:00:00 GMT

Air France-KLM says profits for the April to June period fell nearly 60% as the airline was hit by rising fuel costs and a slower economy...

Briton hails French lifestyle-190708

Sat, 19 Jul 2008 00:00:00 GMT

An expatriate from the UK has revealed why he chose to pack his bags and set up home overseas...

Robin Tomkins left his home and moved to France last year, as he wanted to improve his quality of life.

Speaking to the Daily Echo, he said the country reminds him of how his life in England used to be when he was younger.

Commenting on his new home, he stated that it offers a number of lifestyle benefits, such as safety, security and reduced fear of crime.

Mr Tomkins commented: "We go out and leave the house empty all day in the sure and certain knowledge that we won't come back and find it's been burgled or there are squatters."

He added that moving abroad has been an ambition he had harboured for about a decade.

Earlier this week, the Telegraph stated that people living in the country can enjoy living costs which are about two-thirds cheaper than those in the UK.

Visit our off-plan property France page.

France praised by expatriate

Fri, 18 Jul 2008 00:00:00 GMT

A British expatriate has spoken of her decision to pack her bags and set up home in France.

Sue Moritz moved to the Bordeaux region back in 1994 and believes her quality of life has improved as a result.

Speaking to the Dorset Echo, she stated that the country offers a very pleasant and secure lifestyle, which is a significant improvement on life in the UK.

As a result, she said she has no desire to return home on a permanent basis, especially as she is now married and settled in France.

Ms Moritz commented: "I like visiting England, but I wouldn't particularly want to live here again."

She added that her mother emigrated to France before she did, while her sister has now followed suit and joined them both in the country.

Earlier this week, Shelter Offshore praised France for offering a number of financial benefits to expats, such as relatively low living costs.

Risk planning zones in France have major implications for property

Wed, 16 Jul 2008 00:00:00 GMT

The French government is creating new planning zones to take into account the possible effects of natural disasters which have major implications for developers and property owners...

France recommended to prospective migrants

Wed, 16 Jul 2008 00:00:00 GMT

British people who are considering a move abroad have been encouraged to set up home in France.

Shelter Offshore said relocating to the European country could offer a number of financial benefits, as living costs are quite low in comparison with Britain.

In addition, the online portal stated that the price of property in France is also relatively cheap, as values are "a fraction" of those in the UK.

The website said this could allow British nationals some respite from domestic economic problems, such as rising inflation, the credit crunch and the faltering housing market.

Shelter Offshore commented: "Living in France really costs less than living in the UK despite the euro's strength against the pound."

The country was also praised for offering comparable living standards, which means people can "live the same life for less".

This comes after Marjorie Mansfield of financial advice group Siddalls stated that the country is currently one of the most popular destinations for British expats.

Speaking to the Telegraph, she said a growing number of people from the UK are setting up in France every year.

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Transport links draw investors to France

Fri, 4 Jul 2008 00:00:00 GMT

Recent transport improvements are fuelling interest in the French market among Britons, it has been suggested.

The American Chronicle said that France is becoming a very popular destination among expatriates, second home buyers and investors alike.

According to the publication, this is because the country is well-serviced by a number of low-cost airlines, thereby making it cheap and easy to reach.

The media outlet added that the new Eurostar rail link between St Pancras International and Paris has also played a part, as it is quicker than previous train routes to France.

"Buying a property, setting up a second home or relocating to France has never been faster and easier," the American Chronicle added.

This comes after BuyAssociation stated that the increasing cost of fuel is likely to drive up air fares over the next 12 months.

Therefore, the website believes that people will shun long-haul destinations and instead invest in countries which are closer to Britain.

Rising fuel prices 'affecting property investors'

Thu, 3 Jul 2008 00:00:00 GMT

France could become a popular market for UK-based property investors as a result of rising oil prices.

According to BuyAssociation, the increasing cost of fuel is likely to drive up air fares over the next 12 months.

Therefore, the website believes that people will shun long-haul destinations and instead travel to countries which are closer to Britain.

Paul Collins, property editor at the website, said the fact that fuel prices are continuing to rise means that that "things have to change".

He commented: "You may find that people will stick closer to home where they have an option to maybe go by train, or even drive, or find some other way of getting there rather than fly."

This comes after Virgin Trains revealed that "more and more" people are choosing to use the railway as a means of getting to destinations they might previously have gone to by car or plane.

France recommended to prospective expats

Tue, 17 Jun 2008 00:00:00 GMT

British nationals who are thinking of retiring overseas have been advised to consider moving to France.

ShelterOffshore.com said that a growing number of people in the UK are thinking of spending their retirement abroad, as the economy is faltering and the climate is relatively poor.

Therefore, it has recommended that Britons consider France as a suitable alternative, as they would be able to move there with "minimal fuss".

The online portal said the country's proximity to the UK also makes it a good option, as it is "right on our doorstep".

ShelterOffshore.com remarked: "Never has there been a more popular time to consider retiring abroad."

This comes after Marjorie Mansfield of financial advice group Siddalls stated that the country is currently one of the most popular destinations for British expats.

Speaking to the Telegraph, she said a growing number of people from the UK are setting up in France every year.

Global economic problems 'not deterring overseas buyers'

Mon, 3 Mar 2008 00:00:00 GMT

Turbulence in the global economy is not putting Britons off buying foreign properties, according to new research.

Figures from the Association of International Property Professionals (AIPP) found that the number of overseas transactions went up by 21 per cent to 240,000 last year.

Many of these purchases were said to have been in established European locations, including France, Portugal and Italy.

However, Spain was named as people's favourite location, as it attracted more than a quarter of those who bought a foreign property in 2007.

Paul Owen, chief executive of AIPP, told Country Life that this finding could prove to be a surprise to some industry analysts.

He commented: "There has been some negative media coverage about the Spanish property market."

Despite this, the country has been rated highly in recent polls including a survey by A Place in the Sun magazine.

Research by the magazine found that it was Britons' favourite foreign property market for the second consecutive year.

France's property market 'a safe bet for investors'

Mon, 21 May 2007 00:00:00 GMT

Investors have a better chance of making a profit in France than they do in Spain, according to one expert.

Trisha Mason, managing director of property firm VEF, said that France is a "mature" economy with a "safe" property market, which is set to improve under the presidency of Nicolas Sarkozy.

Comparing the market to neighbouring Spain, where inflated house prices are undergoing a correction, Ms Mason said that France offers more lucrative opportunities for investors.

"France we know has about 30 per cent in it that it can afford to go to before it gets over-inflated. And I think we're going to see that happening now."

She went on to say that although the French market would not match the capital growth witnessed in eastern European countries, its established market makes it a safe choice for "medium to low risk" investors.

According to French property agents Latitudes, the election of Mr Sarkozy will cause property prices to rise across the country as investors become more confident in the economy.

French property prices will rise 'because of Sarkozy'

Fri, 18 May 2007 00:00:00 GMT

France is set to become a country that is "much more property owner-oriented" now that Nicolas Sarkozy has become president, an expert has said.

Penny Zoldan, managing director of Latitudes, said that the centre-right politician who took over from Jacques Chirac on Wednesday will strengthen France's economy and property market.

According to Ms Zoldan, Mr Sarkozy's policies will probably cause property prices to rise as French investors become more confident.

However, as these changes will take some time to implement, British investors still have time to buy properties in time for the boom.

"If things become more beneficial for the French who have money ? and that's what the conservatives do ? then there will be more money around and the French will be even more in competition for the good properties," she commented.

Her comments echo similar sentiments expressed by property specialists VEF, which has said that the new French president will boost the country's economy and make the property market much "livelier".

Sarkozy's presidency 'good news for investors'

Thu, 17 May 2007 00:00:00 GMT

New centre-right French president Nicolas Sarkozy will boost the country's economy and make the property market much "livelier", an expert has said.

According to Trisha Mason, the managing director of property specialists VEF, property prices in France will grow as the economy gains strength and administrative red tape is slashed.

However, she predicted that changes in the French market will probably not take effect until 2008, which means investors still have time to get into the market and benefit from booming prices, although they must act now.

"Basically everything Mr Sarkozy is proposing to do will bring France far more in line with the UK economy and the US economy," she commented.

"He's also intending to lower inheritance tax and things like that and to get rid of some of the onerous French administration. All of that seems to point to the fact that the market will become livelier."

Mr Sarkozy took office as president of France yesterday, replacing Jacques Chirac, who was at the helm for 12 years.