Confidence grows in French property market
Increased levels of stability in the French property market may well be evident due to an emerging trend of increasing property sales. Figures from Notaires de France revealed an increase in residential sales across France by 12.5%. Their figures also revealed that house prices (averaged) across the country increased for the third consecutive quarter and the number of sale transactions are also accelerating. Number of sales have increased by 16% on 2014 to in excess of 800,000.
Of course, not all departments have followed the upturn in a linear manner and there are variations to the trend. However, overall, 50 departments have witnessed price increases, in comparison to 2014 when 11 departments saw prices increase.
It is possible that low level mortgage interest rates, at around 2.5% (by late March these were the lowest in 70 years), and the wider availability of government backed interest free mortgages for first-time buyers may well be providing the right conditions for this improved confidence in the French property market. Equally, for overseas buyers, favourable exchange rates, with the weaker Euro against the pound, may well be prompting more purchases.
There are further incentives more recently with, for example, the change in Notaires fees; in which they are able to reduce their fees in some cases, as part of the Loi Macron. Arguably, buyers who were previously rather reticent about their French property plans, are now beginning to cease the opportunities as confidence grows in the economy.
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We will be happy to send one of our experienced estimators to visit your premises to ascertain the volume of possessions that you require to be transported to France, packing requirements and any special requirements to access your new property.