Easy Steps to buying a French Property at a discount
The first months of 2008 have been very slow for French property sales. Immobilier (French real estate agents) have reported low enquiry rates and few viewings. However, since Easter the French Property Market has shown some positive signs with more enquiries and viewings.
A major obstacle has been the strength of the Euro - effectively making French homes more expensive for currencies outside of the euro zone. However, a growing number of potential buyers in the French Property market, have accepted the new rate. cDo NOT expect it to recover to the old rate this year - subject to problem in the Euro Zone!
Last year the market rose about 4 but re-sales of houses have dropped. The result is seeing properties in France being marketed at more realistic prices.
French Property Market 2008 - the future Commentators are confident that the French Property market will hold up better than the UK market. Why? The interest rates in France are lower, the French economy is less exposed to the credit crunch , and President Sarkozy via his tax changes is aiming to promote home ownership. Hopefully house prices in France will not fall more than 5%.
Easy Steps If you are cash buyer, then negotiate on price! You are in a strong position and with fewer buyers around with cash, then vendors will accept lower offers as they do not have to worry about the lack of mortgages. Typically house purchases take about 3 months to complete - forward buy your Euros so you do not have to worry about the increasing value of the euro. Choose a currency exchange company, they will offer better exchange rates than the high street banks.
There are many buyers already reducing prices - do not be afraid to negotiate hard as they are already signalling that they want to sell right now! They are motivated sellers.
Howard Farmer Marketing French Property on 1st for French Property for 7 years. 100s of properties sold. http://www.1st-for-french-property.co.uk
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