French property market ripe for investors
French property market ’ripe for investors’
17th August 2007
The French property market continues to grow, driven by local buyers
and sustained interest from overseas investors, experts have stated.
The
continued demand for properties has led to the French government
putting forward plans to build an additional 500,000 homes over the
next ten years, meaning that there will be plenty of opportunities for
UK investors, according to the foreign property firm SPC Overseas.
"With
the major shortage of new properties and the ongoing construction
programmes to cater for this, coupled with a new president, the market
is now ripe for investors," said the firm’s director Anthony Fernandes.
"The next ten years will see France play catch up to other
European markets and investors can expect to see tremendous returns,"
he added.
The comments come as the research service Global
Property Guide reported that transaction costs for buying a property in
Europe are, on average, equivalent to 14.2 per cent of a home’s value,
though France, Belgium, Italy and Luxembourg all charge more than this.
© 7BestInvest Ltd 2007.