Is this the right time to be selling property in France? France, in Western Europe, encompasses medieval cities, alpine villages and Mediterranean beaches. Paris, its capital, is famed for its fashion houses, classical art museums including the Louvre and monuments like the Eiffel Tower. The country is also renowned for its wines and sophisticated cuisine. Lascaux’s ancient cave drawings, Lyon’s Roman theater and the vast Palace of Versailles attest to its rich history.
France is in a sweet spot right now, and that’s for many reasons, not just because of President Emmanuel Macron. Macron has shown himself to be a visionary leader in the short time he has been at the helm. He is certainly a more business friendly leader than the previous President of France.
The Macron Effect, as they call it, is there to be seen everywhere, even in the property market. Indeed, the French property market has been flying these days. This is a great time to be selling overseas property in France, and there is a good chance that you will get a very good price for it.
It’s easy to see why. It’s the dream of every foreign investor in the overseas property market to buy a home in France. The Russians, Australians, Chinese, Scandinavians, Irish, Britons and other Europeans, they are all heavily involved in the French real estate market.
British expats are a major force in the French property market, as buyers as well as sellers. There are close to 151,000 British citizens living in France. Most of them live in the French countryside and like the quiet and relaxed lifestyle there. Rural homes or French cottages are very popular with British buyers.
The Irish and Scandinavian and other European buyers have the same outlook about France as British expats. They are more interested in the French countryside than in Paris for example.
The Chinese and Russian buyers display a different behaviour. They are very much interested in buying expensive apartments in Paris, costs don’t matter. This is the case with American and Australian buyers as well.
That’s why, apartments in even the most expensive neighbourhoods in Paris are never short of buyers. The French real estate market is roaring like never before.
Yes, for sure the interest from British buyers has gone down by a bit recently, mainly because of Brexit.
Brexit was an unexpected event and divided British expats into two opposing groups. However, it hasn’t affected the great love and admiration that Britons have always had for France. Brits continue to be big buyers in the French Riviera, just as they have been for the past 15 years. They share a strong familiarity with France like none other.
Indeed, according to a recent survey conducted by BNP Paribas, at least 30 percent of Britons said that they would like to move to France if given the opportunity buy property there.
Britons and Irish remain the leading foreign buyers of overseas property in France. So if you want to sell your overseas property in France fast, then you won’t need to look far. Just find a buyer from the British or Irish communities.
Also, watch out for Chinese buyers. There are many posh neighbourhoods in Paris that are now almost fully occupied by rich, high net worth individuals from China, Hong Kong and Singapore. Just keep looking until you find the right price for your property.
Contact us today to buy or sell property in France.