France has consistently been a favourite amongst the British middle classes buying property abroad. Buyers range from the well-healed looking for a bolt hole in the French countryside to those searching for the ideal place to retire overseas. However France is now attracting a new type of French property buyer. Overseas property portal Homesgofast.com reports that 2007 has been the year for the UK first time buyer searching for property in France, hard pressed buyers now see France as a means to get on the property ladder.
The British housing market is becoming a no go zone for first time buyers with UK average house prices beyond the pockets of most fledgling home buyers. Homesgofast.com report that it has seen a 30% increase in British based first time buyers now seeking a place to buy in France. CEO Nicholas Marr ‘2007 has been the year that the British first time buyer has considered French property as a way of getting a foot on the property ladder. 25% of our registered French home buyers are now first time buyers without a property in the UK. The majority of these buyers are under 35 years of age.
The UK’s Daily Telegraph report that inter-continental commuters have been spurred into action by the New Eurostar link at London St Pancras. The newspapers overseas property section indicates that prices in Pas de Calais are typically a third less than the rest of France. French house prices are generally a 30 per cent cheaper than the UK. A three bedroom riverside cottage 15 minutes from Calais can be bought for only £110,000.
A recent study conducted by Savills Research in conjunction with Holiday-Rentals.co.uk indicates that property values continue to rise in France, with French home buyers getting good returns on their investments, and rental incomes Purchase prices of second homes in France have risen by an average of 19% a year over the past decade according to the study.
Cheap Property For Sale in France
