Price Of Property Rises Substantially In Destinations Popular With British

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There are certain parts of France which have been so affected by Foreign buyers that the price of property is now far too much for the local French to contemplate. This is common place in Holiday areas and places which have become popular for retirees such as Sarlat in Dordogne, Morzine in the Alps and of course many places on the French Riviera. Prices over the past 10 years on the Coted'azur had quadrupled in some areas and a similar story is seen in Morzine. This has the benefit of making the French locals who own property wealthire but pushes 1st time buyers or those of lower incomes further into the countryside or another place altogether.

Cheap flights, low Euro interest rates and a better quality of life have been the main reasons for the interest in the French property market and expensive house prices in Britain have meant that many have sold up to get much better value for money across the channel.

A market that previously was only available to the affluent foreign purchaser is now, due to vastly improved transport links, ease of credit and generally higher wages, also available to those who previously would never have dreamed of the exuberance of owning a weekend getaway in Normandy, for instance. A plumber or electrician by trade 30 years ago could never have afforded to buy in France but now things are different and more and more Foreigners- British especially are taking the plunge and setting down their roots in one of many beautiful and tranquil corners of France.

All of this means that house owners in many regions, especially coastal, are seeing their properties soar in value. This is all well and good for current house owners but for local French buyers not as wealthy as the foreigners it is pushing them to buy in the more rural, cheaper areas, possibly further inland. Hence the trend of people moving from the countryside into towns is now being reversed as expensive property prices push them into more rural locations. So in the next few years it is likely that property prices will be increasing even in the areas which are relatively quiet right now where good value property can be bought.

About the Author:
Nick Dowlatshahi is a leading industry figure in the French Property market and Managing Director of Leapfrog Properties- the largest French Property agency. http://www.leapfrog-properties.com



Article Originally Published On: http://www.articlesnatch.com


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