British buyers returning to the French property market

Taylor Scott International News

British buyers returned to the French property market in 2014, buying homes for holidays and investment, according to a leading overseas estate agency. Last year Leggett Immobilier says it saw a 43% increase in French properties sold with buyers from 33 different nations. It believes that this diversity demonstrates the global appeal of the property market in France. British buyers top the sales table for 2014 followed by buyers from Belgium, the United States, Australia, and then the Netherlands. ‘British buyers came back to the French market with a bang and our sales pipeline shows that 2015 will see more of the same. We have seen a 43% increase in transaction numbers over the last 12 months, fuelled mainly by confidence levels in the UK and continued low interest rates,’ said Trevor Leggett, chairman of Leggett Immobilier. ‘We have been making sales throughout France and Middle England is buying again. In 2013 the average purchase price for a British buyer was €269,000, we think that in 2014 this will have risen to around €300,000 and that in 2015 it will rise further still,’ he added. The firm has seen a lot of activity in the Alps and Cote d'Azur and pointed out that buyers tend to want properties that are finished to a reasonably high standard and that are in good locations. ‘We're still selling plenty of renovation projects but there is a definite trend towards just furnish to your own taste style properties,’ added Leggett. He also pointed out that the UK general election in May hasn't yet had any effect on enquiry levels. ‘Traditionally buyers of second homes tend to be cautious in the run up to an election but we currently have over twice as many ongoing sales, between exchange and completion, as we did at the start of the year, the bulk of these to buyers from across the channel,’ said Leggett. Continue reading →

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