The international property market has been relatively subdued in recent years. Concerns about the UK financial situation have meant that some vendors have found it difficult to sell their houses. Since the beginning of 2014, however, things have begun to change. There are several reasons for this: - On the home front, the British economy is picking up, with a growth rate higher than any other EU country. This generates confidence. - Interest rates in the UK are still low, generating minimal returns on investments. - On the French front, property prices have dropped by an average of around 20 per cent. Price reductions are now the norm for properties that have been on the market for some time. Owners of those recently on the market understand that to sell within a reasonable time, pricing has to be competitive. - There are two additional factors that are also encouraging for the British buyer. First the exchange rate has increased significantly since the beginning of 2014. Second, French mortgage rates are at an all-time low: loans of 3.1 per cent fixed for 20 years with a 20 per cent deposit are currently obtainable via “ La Caisse d’Epargne”. (Conditions apply). At Winkworth International, we have high expectations for 2015. If you are looking to buy or let a property or have a home to sell or rent, call 020 7870 7181 or email email@example.com. Further information can be viewed on our international website.
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