Given the fact that the financial crisis is spreading worldwide, many investors are wondering if it’s time to invest in the French real estate market. Indeed prices on the French real estate market had been highly increasing since 2002. The growth was exponential in many areas : + 110% in some districts in Paris for instance. Although prices are still high in Paris, the French real estate market begins to change drastically. Indeed, in many regions, prices are falling. That’s why many investors are wondering what to do about French real estate market. Is that a good time to invest in the French real estate market ?
The answer is YES but WAIT ! As a property finder on the French Riviera, my job is to advise my clients to choose the right property at the right price. Given the fact that it’s just the beginning of the downward trend on the French real estate market, it’s better to wait until the end of the year. Anyway, some cities are already good opportunities to invest in. Marseille or Nice for instance are suffering from this downward trend on the French real estate market.
On the reverse, Monaco Antibes or Saint Jean Cap Ferrat are safe from the international crisis.
If you’re looking for sunny beaches, wonderful landscapes, great history and culture …French Riviera is definitely the ideal place to invest. Obviously you can find some other places in the world that offer you beautiful coastlines, good food and street markets for less money. Anyway, invest in French Riviera is safe !
French Riviera is one of the top tourist locations in the world. The economy is stable and there is no politics instability. Concerning properties, invest in French Riviera is very safe, given the rigorous buying process and protective legal system. Interest rates are still low compared to other countries even if they have been increasing since the end of 2007.
More over in some places in French Riviera, prices have been decreasing a little and locals are reluctant to invest in French Riviera or somewhere else in France. This is the good time for foreigners to invest in French Riviera, specially in big cities like Marseille, Nice or Antibes.
Buying a property is not an easy task to do in its own country ! There are many factors to take into account : the local prices, the neighbourhood, the evolution of the area…When you want to buy a property abroad, the task is much more harder. You need to find the right information about prices but also about the transport access to the property, the local legislation (see our post ) . Are you sure that there is no plan for a motorway construction close to your property? Where to find a good architect?
Moreover, you have to visit many properties and some French real estate agencies don’t feel confortable with English speaking. Some of my clients have decided to ask for a property finder when they felt fed up with visiting properties during all their holidays without success. Continue reading ‘Do you need a property finder to buy a house on the French Riviera ?’
