French property hints at recovery

Property in France is starting to increase in value, new figures have indicated.

The Knight Frank Global House Price Index for the third quarter of the year showed that overall, the year-on-year trend in the country had been for prices to decline by eight per cent.

However, the period between July and September saw the cost of a home in the country increase by 1.9 per cent, suggesting that the market there could be bouncing back, while at the same time offering lower prices than would have to have been paid a year ago.

The development comes at a time when economies and housing markets alike are showing increasingly positive signs.

Head of residential research at Knight Frank Liam Bailey observed that nearly seven out of ten countries are now seeing residential property prices rise, compared with only half in the second quarter.

France's improvement may be linked to its economic recovery, with recent figures from Eurostat showing that it saw growth for the second successive quarter in the three months to October.

Like this? Then share with your friends and colleagues!