Investor 'amazed' by French prices

People considering buying investment property in France may be pleasantly surprised by the prices, it has been suggested.

A Cape Town-based property investor named John told Real Estate Web that he was "amazed" by what his limited budget could buy him when he began looking for a second home in the Alps two years ago.

Eventually he settled on a small apartment in the popular winter sports resort of Meribel, which he purchased without viewing - with a little help from a local lawyer.

The purchase has turned into "one of the best investments" John has made, as he has had no trouble letting it out during the ski season.

"This was a long-term investment. I wanted a place that my family could use occasionally, while also generating an income," the investor added.

International property publication ShelterOffshore recently suggested that France remains a good place to purchase rental accommodation because it has one of the best tourist industries in the world.