Overseas Buyers Returning to France Thanks to President Macron

Overseas Buyers Returning to France Thanks to President Macron

 Do you have a property for sale in France? It does look like the property market in France has been doing very well in recent months, thanks to the positivity brought to the economy by Emmanuel Macron’s election as the President of France.

The French economy has been boosted by the fact that there aren’t likely to be any upheavals in the country, such as those promised by Macron’s opponent, Marine Le Pen, who said that she would call for a French exit of the European Union. Clearly, the majority of the people of France have decisively voted against any such thing.

It also seems that overseas buyers are returning to the country in droves. France has emerged as a better alternative than the UK for wealthy investors, who don’t like Brexit and what it has done for the UK.

A lot of foreign investors don’t like the direction in which the UK is headed for, and certainly don’t appreciate the current climate of political and economic uncertainty in Britain, where nobody really seems to be in charge.

France looks like a much more attractive prospect in comparison, which is why there are so many who want to buy property in France online and are willing to pay good money for it.

South of France, in particular, is very popular with overseas buyers. This is where all the best properties are. A house, villa or luxury apartment in the South of France is considered to be a major status symbol in the international community, especially among the wealthiest families in Asia – from China, Hong Kong, Singapore and Malaysia. And Macron as President has a lot to do with this positive sentiment.

 As Edward de Mallet Morgan of Knight Frank says in an interview with The Telegraph, “Buyers are getting the best value they’ve seen in five or six years and President Macron is giving people a new confidence to invest in France. It’s completely different to when Hollande was in power. Overseas buyers have always been there, but not at the price that sellers wanted. Now, houses that have been on the market for several years are selling.”

Any property in Cote d’Azur, such as in Cannes, is today worth its weight in gold, Mr. de Mallet Morgan says: “That means a five-bedroom house on a 3,500-square-metre plot with a pool and uninterrupted views across the sea and city. That’s the money shot they want and they will genuinely use the house, the boat and the beach clubs for the whole of July and August.”

St Tropez is also quite popular, especially with wealthy international buyers. In fact, the overseas property market seems to be picking up across Europe, not just in France, but also in Italy. The wealthy are certainly buying again, says real estate expert, Alasdair Pritchard from Knight Frank, which is why you will get plenty of great opportunities to sell your property in France fast at a great price.

“What cost €25m a few years ago will now be €15m and for that you can get the top of the range – a 10,000-square-foot house set on 300 hectares, some shooting, a bit of olive oil. It’s most likely going to be a fifth house and buyers know they don’t need it, but they want it,” Mr. Pritchard explains.  

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