French property market ripe for investors

French property market ’ripe for investors’

17th August 2007
The French property market continues to grow, driven by local buyers and sustained interest from overseas investors, experts have stated.

The continued demand for properties has led to the French government putting forward plans to build an additional 500,000 homes over the next ten years, meaning that there will be plenty of opportunities for UK investors, according to the foreign property firm SPC Overseas.

"With the major shortage of new properties and the ongoing construction programmes to cater for this, coupled with a new president, the market is now ripe for investors," said the firm’s director Anthony Fernandes.

"The next ten years will see France play catch up to other European markets and investors can expect to see tremendous returns," he added.

The comments come as the research service Global Property Guide reported that transaction costs for buying a property in Europe are, on average, equivalent to 14.2 per cent of a home’s value, though France, Belgium, Italy and Luxembourg all charge more than this.

© 7BestInvest Ltd 2007.