Foreign buyers on the increase in France
Monday, 11 July 2011 2:28 PM
The sale of French houses to foreign buyers increased by 21 per cent last year, according to new figures released today.
French banking group BNP Paribas said its third Investing & Living Abroad survey showed that international investors bought 51,200 houses in France last year, up from 42,300 in 2009.
BNP said the sharp rise in buyers followed an identical fall (21 per cent) in 2009 as it reminded agents and vendors to “understand that they must continue to value and market houses at sensible levels”.
The survey suggested that there was a significant increase (six per cent) in the average transaction value, up to €238,000 last year.
“It's clear that the rise in ex-pat French nationals coming home is going to continue while UK buyers have consolidated their position as the 3rd largest market - behind the Portugal and France” BNP said.
“Russian and Asian buyers remain small in terms of transaction numbers but continue to generate headlines due to the size and glamour of their purchases.
“The real trend seems to be the overall decrease in buyers from western Europe in favour of a marked increase from ‘new world’ countries such as Australia, New Zealand, South Africa and the USA.”
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