Buy French property now - before prices rise
There may still be political uncertainty in the UK but one thing is certain: if you’re thinking of buying a French property this year, the French Property Exhibition at Harrogate is the best place to be this weekend!
With the euro under threat from the Greece crisis, and concerns about Portugal and Spain’s debt problem too, sterling is starting to rally, rising to 1.8 the day before the election. After a small drop during the election results, it’s on the rise again – up to 1.6 today and expected to keep rising. It might not seem like a huge change, but for someone purchasing a property at €100,000, the difference between buying the property earlier in the year at a rate of 1.2, and buying it today at 1.6, would be £20,883 in their favour.
“After a long period of doom and gloom the pound is starting to shine,” comments Phil McHugh of Currencies Direct. “We have recently witnessed a sustained move higher against the euro and although the EU have announced a huge bailout plan, it is expected that the pound should continue to gain against the euro.
“The proof is in the markets buying the pound and selling the euro, even in the light of the UK political uncertainty at the moment,” he adds. “If we see a coalition government formed soon then this should give the pound another boost.”
As sterling strengthens we are anticipating an increased interest in the French property market, and a corresponding rise in prices. Indeed, in many parts of France property prices are already on the move upwards. It’s a balancing game now: do you wait for sterling to strengthen further but risk property prices also rising, or do you buy now while prices are still low - indeed, there are still many amazing price-reduced bargains on the market – and there’s not so much competition from other buyers?
The French Property Exhibition is the ideal place to start exploring your options, whether you’re ready to buy now or planning for a purchase later this year or next year. You’ll be able to browse property details and discuss your plans with an assortment of estate agents, legal professionals and financial experts, all eager to help make your dream come true.
5 reasons to buy a French property now!
1. Bargains galore across the Channel: many property prices have been reduced to levels not seen for years.
2. For now, it’s still a buyer's market: vendors are willing to negotiate but it won’t stay that way for ever.
3. Put your hard-earned savings to work: forget the banks, put your money into bricks and mortar, and make a lifestyle investment too.
4. Safe and sound: while other overseas property markets are floundering, France still offers a good long-term return on your investment.
5. Free holidays: your French property can provide you with holidays and perhaps even earn you an income through rentals.