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Follow on Google News | A Growing Number Of Uk Investors Are Turning To French Property Market As Safe HavenLondon, 2nd June 2010 -- French mortgage specialist Athena Mortgages, has seen a surge in the number of enquiries by UK investors looking to buy properties in France. The CGT rises in the UK and the fantastic buying conditions in France.
By: John Busby Interest from UK buyers has gathered momentum since the start of the year, and new enquiries from Brits looking to purchase in France were up by 72% in the first quarter of 2010 compared to Q4 2009. Also, the first quarter of 2010 saw the highest level of enquiries by UK investors in any quarter since Q4 2007. With property prices in France rebounding over the past 12 months, foreign investors are starting to feel more confident about re-entering the market. The new build market, in particular, is performing strongly. Prices in Paris and Marseille, for example, are up by 8% and 11% respectively, compared to this time last year. This increased confidence amongst UK investors in French property as a safe long-term investment, is also reflected in the number of enquiries that Athena Mortgages received in February and March this year, that have progressed to the application stage and all the way through to a firm mortgage offer being made. France is particularly appealing to UK investors at the moment, because of the weakening Euro, and the availability and competitiveness of mortgage products being offered by French banks to attract foreign investors. John Busby, director, Athena Mortgages, comments: “Since the beginning of this year, we have certainly noticed a change in the mindset of UK investors, and in particular the last two months we have taken a lot of calls from prospective buyers who are serious about investing in France. “There is definitely a feeling amongst investors that this is a pretty good time to buy in France, with the value of the Euro plummeting in the last couple of months, the European Central Bank rate likely to remain low for some time yet, and the relative stability of the French property market. There are also more competition mortgage products coming onto the market, as French banks look to attract foreign investors. “Also, with concerns over the UK Government’s proposal to hike Capital Gains Tax on second homes, we are predicting that more UK investors, who are planning to realize their gains in the domestic buy-to-let market, will turn to the French property market as an attractive and safe long term investment option.” For French mortgage best buys and comparison tables of the current best French mortgage rates please visit http://www.athenamortgages.com - Ends - # # # French mortgages for International buyers Athena Mortgages is the leading multilingual France only French mortgage finance broker for international buyers of French property. We believe in keeping things simple and provide best buy tables. End
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