property in france recommended to foreign buyers
News Posted On: 17 August 2009
Second home buyers have been encouraged to consider purchasing a property in France.
The European country recently came out of recession, with official figures showing that gross domestic product (GDP) went up by 0.3 per cent during the second quarter of the year.
This went against the predictions of many financial analysts, with even French economy minister Christine Lagarde describing the development as "surprising".
It has prompted the Foreign Property Buyer website to suggest that prospective investors consider purchasing a residence in France.
The site said the country's emergence from recession could herald a recovery in its housing market, which means house prices could go up at some point in the near future.
"Now may be the perfect time to invest in a French property, as the property market may be at or close to the bottom," it commented.
"Therefore, bargains can be bought."
Foreign Property Buyer said that investors could potentially take advantage of the subsequent rise in house prices and sell their properties on at a profit.
The website added that low interest rates in the eurozone could also help to boost property sales in France.
Last week, Ms Lagarde attributed the increase in GDP partly to the government's investment in the public sector during the economic downturn, as well as a strong performance by the export industry and healthy levels of consumer spending.
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