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Follow on Google News | Changes to ownership rules set to boost French property salesThe recent government announcement detailing a reduction in the qualifying period of ownership from 30 years to 22 years for property sellers, is expected to boost sales volumes in the French property market.
By: www.offshoreonline.org Meanwhile, prices in the sought after areas of the 6th and 7th Arrondissements in Paris are already surging ahead, according to data from the Notaries de France, with some areas having risen by over 18% in one year or nearly 40% over five years. Parisian property has outperformed the provinces in this regard and, in the popular Alpes-Maritimes department which includes Nice, prices slipped back slightly by around 3% for older, established apartments, having risen for each of the four years prior since 2009. On a euro per square metre basis, prices in Nice are now running at €4860 for new build properties or at around €3600 for existing housing stock. Meanwhile headline grabbing mortgage rates as low as 2.80% for 10 year fixed rates or 2.15% for variable rate products will be attractive to both domestic and expatriate buyers, thinks Offshoreonline.org. Managing director Tim Harvey comments, “In the traditional centres where expatriates like to buy, the French market has shown an enviable combination of relative price stability, even when volumes have fallen significantly. Unlike in the UK, though, mortgage finance remains readily available, making this an attractive proposition for investors who are focussed on return and lifestyle, rather than a specific location.” International buyers considering a French property purchase can find more information on euro mortgages at www.offshoreonline.org End
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