France on verge of spring property boom
French property will no doubt find itself in high demand over the coming months, with foreign buyers returning to the market in time for spring. Trevor Leggett, chief executive of Leggett Immobilier, explained that once the warmer weather begins, international investors head to the country to find a bargain. Despite difficult economic times, Mr Leggett doesn't expect 2013 to be an exception to this rule, and agents are already reporting "increased activity right across France".
So just what is it that is allowing France to continue to draw in foreign buyers when other nations are struggling to tempt investors? "The penny (or centime) seems to have finally dropped that homeowners and agents should price sensibly and we are seeing some terrific bargains being snapped up by clients," Mr Leggett said. "We have seen a 31 per cent growth in sales over this time last year and our call centre team are reporting an increase in viewings booked in the run up to Easter."
The weather is also helping to send UK investors abroad, as Britain continues to be subject to snowfall and freezing temperatures. What's more, Leggett Immobilier expect Budget 2013 to be a further incentive for Britons considering entering the second home market. Mr Leggett explained that last week saw George Osborne deliver a "budget for homeowners", which will no doubt increase confidence in UK property. This will spill over into overseas real estate also, whether for a holiday home or commercial venture. "With so many purchasers looking for a mixture of lifestyle & investment returns we think that France is ideally placed to profit," Mr Leggett said.
There is no doubt that the country is filled with bargains at the moment, unable to escape Europe's property woes that have sent prices falling. This has especially affected homes at the top end of the range and Leggett Immobilier expect that anything over ?600,000 will have to be priced competitively (£513,037 approximately). Consequently, investors can now obtain prime property much easier than in previous years.