Resicom – Holiday Investment – 04-21 – LB

Brits Still Want to Live in France

Maison Carrée Nîmes

Brits still want to live in France, despite the uncertainty surrounding the UK leaving the European Union.

Recent research from property company Leggett Immobilier found that 47 per cent of British overseas property investors buying properties in France are doing so to spend longer periods of time in the country prior to a permanent move.

23 per cent of those surveyed confirmed that their French property would be available to be used by family and friends, whilst 12 per cent planned to use the property for family holidays.

10 per cent of the overseas property investors asked said that family summer holidays were the main reason for buying a French property, while 8 per cent of the Brits intended to rent out their overseas investment.

As previously reported, the French property market has begun to recover from the global financial crisis of 2008, with the latest data from Notaires de France expecting prices to rise nationally by 1.2 per cent year-on-year by the end of September.

Many popular locations in France are rising much quicker already, with Bordeaux recording a rise of 15.5 per cent over the past year.

Nimes has seen prices rise by 11.1 per cent in the year to May, while in Lille prices are up by 8.5 per cent. The capital city of Paris has also seen a rise over the same period of 5.5 per cent.

The 12 months to May also saw property sales up nationally to over 900,000 transactions, a rise of around 10 per cent from the 824,000 recorded in the previous 12 months.

Chairman of Leggett Immobilier, Trevor Leggett, commented: ‘The things that Brits love about France haven’t changed. The weather is still great, the property prices are fantastic, the way of life relaxed and the food and wine delicious. It isn’t surprising that some of our clients are dipping a toe into a new lifestyle with a second home purchase, with a view to a more permanent move in the future,’ he pointed out.’

He continued: ‘With strong traditions around conviviality, the enjoyment and sharing of food and drink, family and friendship bonds, France is also the perfect place for a meeting place for family and friends, so it was interesting to see that this featured as the second biggest reason for buying a second home in France in our poll.

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