Is Affordable French Property a Better Bet Than Your Pension?
By Jeff Seems
With the current state of the dollar and the pound against the Euro you might think there couldn't be a worst time to buy a property in France. Hang on though. A lot of French estate agents are well aware of the power and importance of foreign buyers and you might be surprised just how affordable French property still is.
There's also the investment angle to consider. Certain French estate agents are actively promoting French property to foreign buyers as a viable alternative to investing in a private pension and when you look at the growth potential they have an argument worth listening to.
If you're coming to France from the US, the situation isn't the same is if you're Dutch or English. It's definitely the Northern Europeans who have the greatest difference in house prices (unless you're from one of the major US cities).
Affordable French property, two and three bedroom cottages for example, in the easily accessible North of France, are half the price or less compared with a similar house just across the channel.
Go further south, into the heart of France where it's a largely rural economy and the prices are even cheaper. If you're prepared to get your hands dirty there are still some French country properties at real bargain prices.
It's true that you're not going to make the same killing that you would have ten years ago. But you could probably say that of any property market in Europe. The south coast around Nice and Cannes is just plain expensive. In the south west around Biarritz you'll be equally pressed to find a bargain.
But go further north up the coast a bit, around Royan and La Rochelle, and there's still affordable French property and building plots to be had almost right on the beach. Not cheap, where by the coast is? But not astronomical either.
And what about the investment angle? French estate agents realise the value of foreign buyers and are quite creative when offering you reasons to buy French property! A number of them have come up with strong arguments for French property as an investment, particularly if you're considering buy-to-let.
They're not just pulling ideas out of the air either. They have figures to support their proposals that certainly challenge traditional thinking about private pensions. The market probably isn't rising at the 15% level that it has been, but it's not tumbling like the UK one. Rental income can also cover a great deal of your costs. If you can buy now you'll be well placed when your currency regains some of its lost strength.
I would never advocate taking risks in the property market. You should always consult a properly qualified financial advisor and make sure you understand how the market in France works.
However, just because the pound and the dollar have gone down the toilet recently doesn't mean there's no more affordable French property!
Jeff Seems is an Englishman living in France. He is author of The French Property Buyer's Guide which is vital reading for anyone thinking of buying property in France.
Article Source: http://EzineArticles.com/?expert=Jeff_Seems
http://EzineArticles.com/?Is-Affordable-French-Property-a-Better-Bet-Than-Your-Pension?&id=1296931
Buying Property Abroad
Brand new, paperback,
Price: £10.95 including post and packing
Available here:
http://uk.ten.ebid.net/perl/auction.cgi/1217073593-7463-0
