Following the Brexit decision to exit the EU and the forthcoming French elections, what does 2017 hold for the French property market, long a favourite destination of overseas property investors.
Despite the troubles within the European Union and relatively low economic growth in the French economy, property sales in France were up 15 per cent during 2016 and property price growth became positive nationally at 0.5 per cent.
Despite this growth being behind other countries such as the UK, growth is expected to improve up to 2 or 3 per cent in 2017.
Like many other countries such as Spain, property price growth in France varies widely from region to region. Some areas such as Bordeaux, Toulouse and Nantes bucked the 0.5 per cent national average in 2016, enjoying growth of up to 6 per cent.
Overseas property investors therefore need to research carefully the areas of France in which they wish to invest.
France attracts more than its fair shgare of overseas property investment in Europe, with British investors long making up a large percentage of these. Although British interest waned after the Brexit vote, the general consensus is that UK investors will return strongly in 2017.
All signs seem to be that French property has turned the corner since the downturn of the global financial crisis in 2008, and with renewed interest already showing from America, Australia and Scandinavia it seems that the French Property market is now back on track.
Despite uncertainty over the up coming elections it does appear that interest from both domestic and overseas property investors is growing in France, and whilst there are still property bargains to be had it may well be time for British property investors to renew their love affair with our nearest European neighbour.