French property market to benefit from weak euro

British buyers looking to the French property market will be able to capitalise on the current strength of sterling against the euro, Property Wire has reported.

According to Athena Mortgages, the market is currently experiencing a tightening of bank policy towards lending because of the economy, but it is unlikely to deter serious buyers.

John Busby, director of the company, said that the current return on investment for many individuals buying property in the country was "impressive".

"The pound is at a 19-month high against the euro and the horizon for rate increases still seems a way off and mortgage rates remain at their historic lows," he added.

"So for the meantime the buying conditions in France are improving overall."

A recent survey, conducted by HomeAway.co.uk and Savills, claimed that there is likely to be a resurgence in interest in property from wealthy lifestyle buyers this year.

The real estate portal stated that established markets such as France are likely to benefit from the return as many buyers shy away from more risky markets in light of the economic climate.

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