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The average price of French Riviera property has fallen below €2m for the first time in history, according to the latest Luxury Property Index. Price drops in 2011 drove sales up by 16 per cent, but the cost of prime Riviera real estate is now at an all-time low of €1,925.383.
The latest report from the FNAIM shows house prices rising for the 5th consecutive quarter. The report covers the second quarter of 2011 (April - June) and is available on www.fnaim.fr.
Bubble or not, France's buoyant housing market is fuelling high-level fears that a post-crisis boom could turn to bust.
The international estate agents' first Prime Global Cities Index highlights a growing divergence in property values between city and country, while major European capitals like Paris and London come back into vogue with investors.
French property buyers are likely to be encouraged by news that the country's real estate market is not heading towards a bubble.
The price of an apartment in Paris continues to skyrocket, with one real estate firm reporting a 20% rise in prices last year alone, with more increases expected over the rest of 2011.
Forget the rat race – buying abroad offers bargain properties and the living is easy, says Christopher Middleton.
Investors looking to purchase overseas should hop across the Channel to France where near double-digit price increases have been recorded, says specialist French property firm Experience International.
A growing oversupply of new builds in the country's popular tourist regions is seeing discerning buyers return to traditional French farmhouses and cottages in their search for a holiday home.
President Nicolas Sarkozy’s government should consider curbing mortgage lending to counter rising home prices in France, the Organization for Economic Cooperation and Development said.
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