Why buy French property?
France is synonymous with all the good things in life
, unique in the world for its individual sense of style, its gourmet food and wine, rustic architecture and beautiful landscapes. Little wonder that for so many years, it has remained such a firm favourite for those seeking a second home in the sun.In what has always been a solid, stable property market, prices here have escaped the dramatic drop in value seen in neighbouring countries during the global recession. After soaring for most of the decade, they dipped slightly in 2008 but quickly levelled out. Whilst the devaluation of the pound against the euro may have put some people off investing in the short term, it is once again a buyers market in France as we head into 2010 and if you are able to put in an offer, the general advice is to strike while the iron`s hot.
Whilst buying a home in some countries has often been a gamble ending in heartache, investing in a property in France has always been a safe bet. This is not only due to stable economic forces but the nature of the French purchasing system itself, which while appearing to be over-stringent in some areas, is highly protective of the buyer and favours long-term investment. A 7 day cooling off period after signing contracts, for instance, allows purchasers to withdraw without penalties and long term investors enjoy low capital gains tax here. 100% mortgages may be unheard of in France, where buyers are required to raise a substantial deposit, but on the other hand banks do guarantee the safety of off-plan purchases, having a legal obligation to intervene should the builder declare bankruptcy.
Unlike in neighbouring countries such as Spain, there are few `property hotspots` in France, where holiday homes and buy-to-let properties can be found everywhere, from city apartments to rustic country cottages across all regions. Cheap and plentiful flights to France make it an attractive option. House prices vary from region to region, but a search for renovation projects reveals that they can be found in some areas for under 50,000 euros, with detached properties on offer for under 150,000 euros. Of course, for those with a much larger budget, 1m-2m euros will buy a sumptuous chateau in western France or a superb villa on the Cote d'Azur.
Why buy French property?
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