french property to reign supreme with british buyers
News Posted On: 03 June 2010
The French property market is looking like having a strong few years in terms of demand from British buyers, as those who first brave into overseas property again will buy cautiously and closer to home.
When overseas property started to see massive popularity among Brits in the early noughties, most people bought in Spain, France, Italy, and a few would go for Portugal or Greece.
As budget flights spanned the globe better investment opportunities and cheaper properties opened up overseas property to a wider group of Brits. Brits began buying in Croatia, Bulgaria, Estonia, Finland and even Canada and Cambodia.
The main reason for buying further afield was the low prices, rental yields and capital growth potential, people had made massive gains by getting into Spain and France early, and now price growth was slow in those countries, people looked elsewhere, with increased accessibility becoming a factor in building investment potential in those locations.
During this time the popularity took British overseas property buying to boom levels in 2005/06 and continued to grow until mid-2008.
The crash zeroed out the clock on all of that. Today's overseas property buyer is akin to those first brave few who originally opened up the trend, well, not quite but close and certainly as risk averse. The first few years will see France, Spain and Italy reign supreme again. This, when you look at Spain and Italy's debt and austerity leaves France in a strong position to see the bulk of British demand for overseas property in the coming years.
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