Page 0018

French property market

remains healthy & strong

I

t's quite clear that the market

in France remains healthy

and strong, with plenty

of sales to both domestic

and international buyers. Of

course, as the Brexit uncertainty

continues and the exit deadline

draws nearer, it is impossible

to accurately predict what will

happen to demand from the UK

over the next 2-3 years. However,

it is important to remember

that sales to British buyers make

up less that 0.5% of overall

sales in France and have little

influence on national prices.

The Notaires de France report that there

were just over

950,000 transactions across

France in the last 12 months*.

To put this into perspective

there were just 564,000 in the

12 months to August 2009

when the Crise Financière was

at its most potent. The steady

rise in sales since then seems to

have flattened off now, and we

predict that the market will stay

strong and healthy for the next

few years. Sales to international

buyers rose by 2% last year (despite a fall

in British buyers) and

we see this trend continuing,

as investors are attracted by a

strong economy, low prices and

cheap financing options.

In terms of house pricing

we have seen a national rise of

3.2% in the last 12 months and

a 1.2% gain in the last quarter -

however, you will find that

this national figure masks many

regional disparities with prices

falling in some areas. The biggest

contrast is between Bordeaux (+10% in last 12 months)

and Amiens (-10% in the same

period). The Notaires de France

are predicting that prices will

rise nationally by a little over

2% in the next 12 months, a

figure that we see as a little conservative.

There is a "feel-good"

factor to the market that is likely

to continue until interest rates

start to rise.

These figures do show that

looking at national statistics can

be pretty meaningless for individual householders

- far better

to seek advice from your local

agent who will be able to look

at sales of comparable properties in your

area. Leggett has

over 500 agents across France,

all of whom are expert in their

local market. We know from our

own sales database that buyers

continue to look for a bargain

and our advice to vendors is

that your property still needs to

be attractively priced to make a

sale - particularly in the countryside.

*Figures correct at time of

writing

ANALYSIS LEGGETT MAGAZINE

Graham Downie

has 30 years

experience of

the international

property

market with

Savills, Chesterton

and Leggett

Immobilier.

18 LEGGETTFRANCE.COM

Leggett Immobilier are reporting record sales, this is their

analysis of the market

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