France is our nearest continental neighbour and it remains the second best loved country for Britons buying a second home abroad.
By Gordon Miller
Industry body the Association of International Property Professionals’ (AIPP) found that last year nearly one in five of us – 17 per cent – who bought a property outside the UK purchased in France. Spain is the number one destination with almost a quarter of purchases taking place there.
In many people’s eyes France is synonymous with the good things in life: fine dining, great wines, sunshine and a more relaxed pace of life than we are used to in the UK. Philippe Robin, managing director of property finders Selection Property said, 'Quality of life, food, wine, scenery, climate and accessibility from the UK make France an ideal place to retire or holiday.
'From a financial point of view, I would not recommend buying property in France to speculators, however it probably offers the safest environment for a long term investment with an unbeatable combination of superb infrastructures, quality build with 10 year construction guarantees, strong legal protection for buyers and stringent regulations for mortgage lenders.'
Similar to the rest of the world, property prices in France are no longer rising at the heady rates that they did earlier in the millennium. The average increase was 15 per cent per annum 2004-2006. However, because they were not as inflated as in, say, Spain or Florida, they have not slowed down so markedly. Robin said: 'The market for countryside houses in France has slowed down in 2008 compared to previous years.
'Some vendors who had over-inflated their asking price had to become more realistic, especially in areas like Limousin or Charentes. Quality properties in good locations are largely unaffected as demand will always be strong for new developments in departments like Vendée or Hérault, for instance, as well as ski apartments in the Alps and the Pyrénées.
'Most French people go on holiday in these areas, and in considering that France is the number one destination in the world for international tourism, it is not surprising that both short and long term accommodation remains at a premium in those areas. Moreover, the French leaseback scheme, which has been in place for over 20 years and offers attractive tax incentives and hassle-free rental income, gives both French and British buyers a safe and easy option to invest in a holiday property in France.'
Amanda Lamb gives us her top tips for buying abroad in 2009
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