Almost a quarter of potential buyers said that they would most like to purchase property in France, with many believing that now is a good time to pick up a bargain. HiFX says that France remains a ‘safe bet’ for Brits, with the sun and lifestyle being a big pull, and the weakening euro giving buyers better value for their money.
Spain remains the second most popular destination to buy property with a fifth of potential buyers looking to invest in a property there. HiFX says that the country is still popular with Brits who are hoping to take advantage of current property prices, which have, on average, come down by almost 13 per cent in the last year alone.
The report further revealed that 35 per cent of respondents said they’re looking to buy a property abroad within the next one to two years, whilst 30 per cent are even looking to purchase abroad within the next six months.
The report’s findings echo those of our own - France is top of Conti’s hot spots list for the fourth year running, accounting for a huge 45 cent of mortgage enquiries received so far this year. And last month, the number of people progressing from the enquiry stage to the ‘go-ahead’ stage for French mortgages increased by more than 50 per cent. It seems that there’s a growing feeling of confidence amongst prospective buyers, who are becoming more serious about their intended investment.
Against the volatility of the British market, French property is seen as an increasingly solid investment option over the long term. And while it hasn’t been reduced to bargain basement prices, it generally remains well under UK averages, with plenty to choose from within a budget and the current strength of the pound allowing buyers to get more bang for their buck. It also helps that these countries offer easy access from the UK, and rental opportunities are good too.
