Great news for Brits as prices of property in France fall in popular areas

A strengthening pound and falls
in prices of property in France are making it easier for British buyers to
purchase homes in the country. 
That’s the view of a recent article in The Guardian, which
highlights the combination of issues making property in France cheaper to
overseas buyers.

Keep reading to learn more about
how the values of homes are falling, particularly in areas popular with British
buyers.

Prices of homes falling in Paris and beyond

France’s association of estate
agents, FNAIM, predicts an average property price fall of 5 per cent in 2012.  The French notary association sees a
drop of between 5-10 per cent while Crédit Agricole, one of France’s largest
banks, puts the falls at 5-6 per cent.

While prices are generally
expected to fall this year, experts are keen to position this fall as an
‘adjustment’ rather than a property crash.

Prices of homes have fallen in
areas popular with British buyers. 
The Guardian reports that
prices of property in Brittany have fallen by 4.6 per cent this year on
average.  Values are 6 per cent
lower in Lower Normandy, 9.7 per cent lower in Burgundy and between 3 and 4 per
cent lower in the Dordogne.

In addition, some areas of Paris
are finally seeing price adjustments after several years of strong growth.  Property in Paris has seen its value
rise by a staggering 184 per cent in the last decade and there are now signs
that a correction is beginning.

The newspaper reports that prices
are down 4.6 per cent in the 5th arrondissement around Place d’Italie and 4 per
cent in the 10th, home to Gare de Nord and Gare de l’Est.

Nick Marr, director of international property specialist HomesGoFast.com said: “The weakening Euro and falling house
prices have made France cheaper to British buyers in 2012 than for some years.

“This combination of factors
means that overseas buyers are suddenly paying much less for property in
France.”