The race is on to buy property in France

Wednesday, 27th January, 2010 by Overseas Editor
UK investors who are looking to buy property in France are bringing their purchases forward, according to a report from mortgage provider Validus Financial Services published on property news website Easier Property.

The low interest rates for mortgages in France, currently at 3.6 per cent, coupled with the opportunity to buy property in France while house prices remain relatively low, are beginning to drive the country’s property market forward.

Previously, many people had felt it unwise to rush into any buying decisions due to the recession but now is thought to be the best time if buyers intend to finance the purchase with a mortgage.

The report illustrates the point by using the example of a three bedroom property in France worth €97,500(£84,500). To obtain an 80 per cent loan-to-value fixed-rate mortgage on this house would cost €348 (£301) per month.

Interest rates in France have returned to similar figures recorded for December 2008 after a fairly sharp rise in mid-2009, according to the European Central Bank.

Stop dreaming, start searching! Visit Rightmove Overseas for the best selection of Property in France.ADNFCR-1848-ID-19580699-ADNFCR

No related posts.