Sunrise (in the French economy)
France appears to have turned the corner economically in 2017 and, if Macron succeeds in getting through his changes to the current restrictive labour laws, the future for the French economy is looking very bright indeed. Certainly, for the French property market, things are moving, transactions are up (according to the latest Notaires’ French property market report), particularly in the lower and higher property price brackets. Agents are reporting a large increase in both enquiries and buyers and Notaires are drowning in paperwork (but then that’s nothing new!)
Currently it seems that there is a steady, if slow, movement of properties and there are both new sellers and new buyers in the market.
Bearing this in mind, here is a 5-point plan for anyone looking to buy in the current market:
- Don’t expect or keep waiting for prices to drop further; they are on the level and beginning to increase in the most popular areas.
- Mortgage rates are at a historic low and the Euro is low compared to many currencies so if you have been waiting for the perfect time to invest, I would suggest that this might be it.
- Look for quality and be prepared to pay a premium for it – it is always worth it long term.
- Do not hesitate to make an offer – sellers are far more prepared to negotiate than they were a few years ago and there are plenty of urgent sales out there (divorce, relocation, death etc).
- Location is still key whatever the market is doing.
Any questions, please feel free to get in touch and I will do my very best to answer them.
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