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France most popular overseas property destination

Thursday, 8 November 2007 12:00 AM

France has seen an upsurge in popularity among those looking for property abroad, as improved transport links make the country more attractive to investors.

That is according to new research released by currency conversion specialists HiFX.

The country saw a 17 per cent increase in the number of property enquiries between August and September, and now accounts for some 28 per cent of all enquiries made to HiFX.

"France has always been a popular holiday home destination for Brits who enjoy the more relaxed French way of life," said Mark Bodega, director at HiFX.

"However, it is now increasingly feasible for buyers to have the best of both worlds, living permanently in what was a holiday home and commuting back to the UK when necessary."

The increase in popularity is attributes to faster rail connections between France and the UK by HiFX.

The new High Speed One section of the Eurostar line opened earlier this year - spanning the 68 miles from the entrance to the Channel Tunnel near Folkestone to St Pancreas in central London station - cutting journey times between the two capitals by 20 minutes.

Spain, the long-time front runner, has slipped to second place during September, and now receives 25 per cent of all property enquiries.

Portugal, Poland and Cyprus also saw their share of overseas property enquiries increase, with Poland now accounting for 12 per cent of all enquiries.

But it is France which has emerged as the frontrunner.

"We've noticed a particular rise in the number of people who perhaps spend two or three days a week working in the UK and the rest of the time living in their permanent homes in France," said Mr Bodega.

"Property prices in France are around 30 per cent lower than those in the UK and those in the Pas de Calais region are typically a third less than in the rest of France."

According to the Future Forum thinktank, 20 per cent of those moving to France plan to commute back to the UK.

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