France is still popular with British overseas property invests despite Brexit, with recent research by BNP Paribas showing that Brits still top the number of foreign buyers in France and make up 27 per cent of all international homebuyers in the last year.
So where in France is most popular at the moment, and most attractive for investors? Buying agent Home Hunts have looked to identify the trends which have emerged in the past year.
They found the following regions to be the most popular.
The Riviera is on the way up and prices are rising, with Cannes and Nice in particular offering the best investment potential. This is due to several factors, including less restrictions in the number of days owners can rent out their property in Cannes, a wide range of events held throughout the year, and a new tram linking Nice Airport to the city -all of which help guarantee a strong rental return all year around.
The Var is also becoming more popular, with Cotignac and Fayence -where houses average around €2,600m2- in the hottest locations. This is where buyers can get more for their money and benefit from a laid-back lifestyle in places that are lively all year around, yet also have the Riviera on their doorstep.
Arles is an up-and-coming town and is particularly attractive for those looking for long-term investment opportunities. Prices increased by 4 per cent over the last year and are expected to keep rising thanks to several planned developments. The town’s strong links with history and art guarantee buyers a strong rental return, and it was voted one of the best places to visit in 2019 by Conde Nast Traveller Magazine.
Southwestern France is still very popular, especially rural areas such as Dordogne, Lot-et-Garonne, and Gers. Prices have remained stable and buyers find they can get more for their money, leading Home Hunts to expect sales to increase in the second half of 2019. The area offers a wide choice of lifestyles, making it ideal for those wanting to relocate permanently, as well as easy access to Toulouse and Bordeaux (where prices rose by 7.8 per cent in the past year).
Paris is experiencing a boom and has benefited from Brexit, with many buyers from outside the EU now choosing it over London as their European base. Property prices have increased by around 5 per cent in Paris and Île-de-France, with four locations constantly the most sought-after: the Golden Triangle (in the 8th and 16th arrondissement); the Left Bank in the 6th and 7th arrondissements; the 18th and 17th arrondissements near Monceau Park; and Le Marais in the 4th. Demand for hausmannian-type building apartments is particularly high.
It seems that despite Brexit, the British continue their love affair with France.