2015 was an “okay” year for the residential property market in France. While there was a lot of interest in properties in France, especially from British and American buyers, sellers weren’t really able to make much of a profit on their homes because of the poor performance of the Euro, relative to the British Pound and the US Dollar. So if you’re looking to sell property France online, let’s talk about what 2016 holds in prospect for you.
2016 should be a year of stability in France. The French economy should witness a period of slow but steady growth and this should be reflected in the housing market as well. It is expected to be a buyer’s market in France, just as 2015 was, but sellers should be able to make more of a profit than before.
What will help home sellers in that the mortgage rates in France are at a historic low – this should give a real boost to real estate activity. Also, the currency exchange rate situation will continue to favour British buyers, which will compel more Brits thinking of buying a second home abroad to invest in a house in France.
Now, while it is very much a buyer’s market in France, properties are selling for a much higher price than, say 3 or 4 years ago – especially in the South of France, which continues to be hugely popular as an overseas property destination.
As a seller, you won’t find it hard to sell your home in France as long as you are realistic about the price. Buyers don’t like it when a seller sets a price for a property that is much higher than what comparable homes in the area are selling for – regardless of how valuable and priceless the property really is.
While there is a lot of interest coming from British buyers, there are many across mainland Europe, especially from Scandinavian countries such as Sweden, Norway and Finland, as well as from Belgium, Germany, Netherlands and Switzerland who have shown a great interest in buying properties in France.
There is a lot of interest coming from China, South Africa, and the Middle East as well. Of course, needless to add, the U.S. interest in French properties continues to be as strong as ever, because of the romantic view of France held by most Americans.
The French Riviera has been the biggest beneficiary of the overseas demand for French properties. Also popular are areas such as Provence, Languedoc, Bordeaux, Roussillon and Dordogne. French vineyard properties continue to be in demand as always.
For British buyers, conditions are so good that it’s a once in a lifetime opportunity to buy a home in France. For one, the property prices in France are lower than they were a decade ago, the Euro has never been weaker, and the Pound never stronger. Also, banks are willing to lend at better rates than at any time in the recent past. There are excellent bargains to be had all across France, and yes, a lot of British buyers are indeed taking advantage of that.
The average age of British buyers buying homes in France is 53, and clearly most are preparing for a retirement to follow. France always tops most quality of life surveys, and has the best health care system in the world. So a lot of UK nationals would rather spend their retirement years happily in France than back home in the UK.
What’s equally interesting is that there are a number of young professionals with growing families who are relocating to France as well, because of the excellent education system here and the higher quality of life.