More Brits still choosing property in France than other nations
Despite proposals to raise property taxes in the country, France remains the most popular location for Brits buying overseas property. That’s the result of a new survey from overseas mortgage specialist Conti who found that France topped the chart of overseas destinations for the fourth year in a row.
Keep reading to learn why property in France remains so popular with British buyers.
France, Spain and Portugal remain the top places for Brits to buy overseas property
According to the latest overseas property ‘hot spots’ report compiled by Conti, 45 per cent of mortgage enquiries received so far this year have been for property in France. This has risen from 39 per cent in 2011 and just 15 per cent back in 2008.
The rest of the top three locations remain the same as 2011. 33 per cent of the company’s enquiries were for mortgages on property in Spain – up from 31 per cent in 2011 and 14 per cent in 2008. Portugal remained in third place for the second year running, accounting for one in ten enquiries.
The next seven most popular overseas locations with property buyers were Turkey, Italy, USA, Australia, Canada, New Zealand and Ireland.
Clare Nessling, Conti’s operations director, said: “Buyers have increasingly been sticking to locations they know and trust, which is why France and Spain are out on their own at the moment, and Portugal is starting to rise in popularity again too.
“The eurozone crisis continues, but the growing strength of the pound against the euro is boosting the budgets of people in the UK who are looking to buy property in these locations. This together with some bargain property prices and low interest rates, are making it even more affordable. It also helps that these countries offer easy access from the UK, and rental opportunities are good too.”