French property market 'in recovery'

The French property market is showing signs of recovery, according to the latest data from Chesterton Humberts.

In the 12 months to March 2010, the average price of new single family homes rose by 5.9 per cent, while new apartment prices were up 6.9 per cent.

However, prices for resold family homes rose by just 2.6 per cent.

The report also highlighted that the most popular region for foreign second home owners was Provence-Alpes-Cote d'Azur, followed by Languedoc-Roussillon and Rhone-Alpes.

Overall, foreign ownership of second homes has risen by over 50 per cent since 1997, people thinking about investing in French property may be interested to know.

"The outlook for the remainder of 2010 is likely to be characterised by a slow but gradual improvement in both demand and firming of prices," the report concluded.

Last month, France's Chamber of Notaries revealed that Bordeaux, Lille, Lyon, Toulouse, Nice and Paris all experienced appreciation of property values during the first three months of 2010.
 

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