French Riviera property growing in affordability, figures show

Tuesday, April 21st, 2009
New data has indicated that prices for French Riviera property have fallen, something that may offer investors new opportunities to buy.

Data from the French estate agent’s association, FNAIM’s, latest housing market report has revealed that apartment prices in Toulon fell by 19.3 per cent in the past year, while in Cannes they dipped by 13.7 per cent, Homes Overseas reports.

Such prices could provide many French Riviera property bargains to investors.

Some of those making properties available for sale in the region are Britons looking to offload their second homes, the Guardian reported last week.

Local branch chairman of FNAIM Jerome Renaud said of such UK owners: "Many of them tell me they want to sell their second homes to secure their main homes in the UK."

The paper noted that two years ago Britons represented three per cent of the Riviera’s market for villas and eight per cent for apartments.

Visit Rightmove Overseas for the best selection of French Riviera property. Stop dreaming, start searching!
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Wheelie good time for French Riviera property buyers

Tuesday, April 14th, 2009
One of the most prestigious cycling races in the world heads for the French Riviera in June and July as the Tour de France takes in the southern part of the country, with Montpellier one of the destinations.

The city sees the start or finish of two stages in early July, while the 7th of the month involves a time trial that takes place entirely within the city.

Such an event may be of interest to those investing in French Riviera property, with the chance to enjoy some top class action involving some of the leading names in the sport.

Those investing in French Riviera property who are keen to rent it out may find this event a good chance to do so.

Sports fans can also enjoy some other wheel-based championships in Montpellier.

Late April and early May sees the International Etreme Sports Festival take place, involving activities such as rollerblading, skateboarding and BMX biking on show in both amateur and professional contests.
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French Riviera property may be bolstered as government backs banking plan

Tuesday, October 14th, 2008
A plan to ensure the property market in France and across Europe is secure has been put in place by French president Nicolas Sarkozy.

In news that may encourage UK buyers of French Riviera property and real estate elsewhere in the country, the French government has instigated a €360 billion (£280 billion) plan to guarantee bank debt and ensure any problems experienced by the country’s banking system do not cripple it.

Such a move may help the mortgage market flow in the country, ensuring French Riviera property buyers can carry on buying.

Stating that money is currently not circulating enough in the system, Mr Sarkozy said: "It is therefore necessary to create the conditions for it to circulate again and naturally between banks first as they are at the heart of financing the economy."

The plan was implemented after a similar plan was devised in Britain.

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France ‘to reform property market cautiously’

Friday, September 26th, 2008
The French government has signalled that it is planning to reform its property market in a way that will avoid it matching the kind of problems seen elsewhere in the credit crunch.

French president Nicolas Sarkozy has pledged reforms to make the French a nation of property owners but finance minister Christine Lagarde told the BBC that this would not mean a similar situation to Britain when it comes to buying and lending.

She commented: "Expect two conditions - a down payment of 20 per cent of the value of the house plus mortgage [repayments] which will not exceed 30 per cent of income."

Ms Lagarde added that there will be no US-style sub-prime lending.

Such considerations may interest those thinking of investing in the Brittany property market, the French Riviera property market or the Normandy property market.

The price people are paying for a residential property in France right now is about the correct one that the market should be charging, French property specialist firm VEF has stated this week.

This story was brought to you by Rightmove Overseas, the UK’s leading overseas property portal and part of Rightmove.co.uk. It’s time to stop dreaming and start searching!
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