The buying and selling property trends in France are expected to be very positive. The real estate market in France continues to grow in strength and is not far from the highs last witnessed in 2007. France remains a popular overseas property destination.
France benefits from the twin advantages of low mortgage prices and a stable property market. Property prices have been steady for a while now, which has certainly restored confidence of both buyers and sellers, according to the Institut National De La Statistique Et Des Études Économiques (INSEE). Buyers now feel confident about making bigger bids now, than they were only a few years ago.
Resale property transactions have hit a new high in 2016, and are estimated to be 830,000, up by 19 percent over the previous year. This has certainly been aided by the interest free loan which is given by the banks to properties that are in need of renovation. The goal is to encourage property transactions in all regions of France, and not just in the popular areas such as Paris and the South of France.
There is however some concern over the mounting real estate prices. There is a fear that higher property prices could turn away some of the prospective buyers and even lead to a bit of a slowdown. But at the moment, there is no fear of a slowdown.
Real estate agents across France have reported an increasing number of inquiries for homes and apartments in France from a number of emerging nations such as Russia, China, Ukraine, Brazil and from the Middle East.
They have also reported that the interest from Britons, who are the biggest buyers of French properties, continues to be high, despite the Brexit referendum. Americans, Germans, Italians and Scandinavians are the other big buyers of French properties.
The interest is expected to remain high as the French government plans to keep the mortgage rates low for the foreseeable future. However, there are a few factors that have impeded growth, such as the introduction of rent controls in some areas of France. This has led to many looking for rented accommodations than buying a home of their own.
Among the cities in France, Bordeaux has reported the highest price increase. It is more expensive than ever to buy a property in Bordeaux.
Here, property prices were up by 7.1 percent over the last 12 months, making it the fourth most expensive city in France after Paris, Nice and Lyon. The average price of an apartment in Bordeaux is €3,571 per square metre, which is slightly higher than the average in France, which is €3,292 per square metre.
But it’s not just Bordeaux that has witnessed such a jump in property prices. Home prices have risen in 80 percent of the towns and cities in France and they are expected to continue to rise as well. This is certainly good news for those who are planning to sell their property in France.
Contact the experts today to sell property in France fast.