Online Calculator | France’s Mortgage Rates Take A Dip, Offer Investors Greater Opportunites

France’s Mortgage Rates Take A Dip, Offer Investors Greater Opportunites

With mortgage rates the lowest they’ve been since the recession began, France is looking to be a prime destination for overseas investors, experts say.

French mortgages were updated at 3.35 percent last month, compared to 5 percent in November 2008, according to research by the Observatoire Credit Logement/CSA. With the sterling faring rather poorly as of late, some real estate experts are suggesting that British investors don’t take risks, buy property and set up their mortgages in euros.

According to France’s National Institute of Statistics and Economic Studies, Paris ranked the favoured French destination by British buyers last year. Around 20,000 Britons live in the capital city, which is close to 15 percent of the 135,000 British expats living in the country on a regular basis.

With Paris offering a plethora of world-renowned museums, galleries, cafes, boutiques and restaurants, it seems “lifestyle” is the key reason, other than sheer investment, that these British buyers are moving to France. Properties in France has recently shown itself as a high demand area, with British investors putting a high emphasis on Parisian life as a selling point to their decision. However, first-class culture does not come at a cheap price; homes in the heart of the city are some of the highest priced in Western Europe. Yet bargains can be found, and many first-time holiday home buyers and expats are looking for French properties just outside of the city, in the surrounding suburbs.

Paris aside, another lifestyle destination in France is the French Alps. While a great many of these foreign homeowners use their properties only during the winter months, developers are trying to keep up with demand as they see interest rise amongst the British. Agents also say there are some surprising deals coming out for South of France properties especially for water and summer enthusiasts.

 

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