It’s been a year since Donald Trump was sworn in as US President and one of the beneficiaries of his tenure has been the French property market.
Trevor Leggett, Chairman of Leggett Immobilier, comments: “We posted record sales in 2017 and put much of this down to a “Brexit Backlash” and we are seeing a similar trend (albeit on a smaller scale) with a “Trump Backlash“. Enquiries from the USA jumped by 27 per cent after the election in November 2016, and these turned into visits and sales last year. Sales were mostly made to professionals – teachers, lawyers, dentists, doctors and even an engineer in atmospheric physics and chemistry – living across the USA.” One buyer was only 22 years old – perhaps inspired by France’s dynamic and youthful new president? But but the bulk of sales were in the 50+ category, with people looking to take advantage of the quality of life that France has to offer, from the sun-drenched vineyards of the south-west, to the chic beaches of and Med. Aquitaine and Provence-Alpes-Cote d’Azur (PACA) were the most popular areas although US buyers bought homes in 13 different regions last year. Quality of life, climate and relatively low prices were the most common reasons quoted for the purchase. Indeed, the bulk of our sales were in the €300-500,000 range which is attractive when compared to the average price of a condo in Manhattan at $2 million. France now looks exceptional value and this is driving enquiries.