One of Britainââ¬â¢s leading
newspapers has named France as the best place in the world to buy
property. The Daily Telegraph has recently reported the results of the biggest
ever survey of foreign holiday homeowners and found, perhaps surprisingly, that
ââ¬Ëthe number of Brits buying abroad as actually increased during the downturn.ââ¬â¢
Number of Brits owning properties abroad has risen since 2006
Research from Savills and a
leading lettings website published in the Daily
Telegraph found that 385,000 Brits owned holiday homes abroad in 2006 but
that figure increased to a record high of 410,000 in 2010.
The author of the report,
Savillsââ¬â¢ Rebecca Gill, said: ââ¬ÅItââ¬â¢s even more surprising because some previous owners
will have sold in the interim. The net increase means there has been a sizeable
number of Britons buying abroad since 2006.ââ¬Â
Popular locations with Brits
include Portugal, Italy, the USA and Turkey although it is France that remains
the most popular place for Brits to buy property.
Prices of property in France rise 5 per cent this year
The research analysed data 1,700
Brits owning abroad, a thousand Brits renting holiday homes overseas as well as
British and overseas government bodies.
France was the most popular place to buy and this was attributed to the
range of choice available and the proximity of the country.
The Daily Telegraph reports that ââ¬Ëmore than 50 per cent of those who
own French holiday homes drive, rather than fly. Other Britons own apartments in Nice, while wealthier buyers
aim for rural Provence or Champagne.ââ¬â¢
While prices of property in
France fell between 2007 and 2009, estate agent Century 21 reports an 18 per
cent rise in prices across Paris last year, while FNAIM, the countryââ¬â¢s estate
agentsââ¬â¢ association, reports five per cent rises across France in 2011.
The Savills report says ââ¬ËFrench
banks have continued to lend on second homes, stimulating the marketââ¬â¢ and the
newspaper states that ââ¬Ënow is the time to buy before further increases.ââ¬â¢
