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BRITISH INVESTMENT IN FRENCH REAL ESTATE
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It seems our love for French property shows little sign of waning as British investment in France is greater than any other nation. Foreign property buyers in France are dominated by the Brits with them closing 6 acquisitions out of 10.
There is a tendency for the British to buy houses rather than apartments. When apartments are purchased it is often in the mountainous areas such as The Alps with winter sports a key reason for buying. So where are purchases being made? The most popular area is the south-west, French property firm VEF said, “the south-west region has a wide range of attractions, including accessibility and a historical tendency to see prices rise.” In recent years departments such as Creuse have seen the Brits accountable for over 25% of all foreign property investment.
The British apartment choice in France*
Highest % per department:
6.56% in Savoie
5.16% in Haute Savoie
3.57 in Dordogne
2.48% in the Pyrenees
2.44% in Gard
2.15% in Aveyron
The British house choice in France*
Highest % per department:
25.33% in Creuse
18.13% in Charente
17.71% in Dordogne
15.02% in Haute Vienne
13.48% in Lot
12.88% in the Gers
French property in the large cities is not as popular, though we are willing to spend on average £200,000 on property within areas such as Paris. The average price paid outside Paris is £183,000. Away from the cities, there is a strong attraction to the tranquillity and peace of the rural areas. Departments such as Charente and Dordogne are strong favourites.
Figures from the Notaires de France database show one third of French Property purchases by the British are made by those making a permanent move from the UK or a short term settlement. Many will be looking to retire while the rest make a living in trades such as building, running B&Bs, teaching and a small number make a living in farming.
* share of British investment within all foreign property investments, source: Notaies de France databases.
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