Conservative win fuels British interest in French property

British buyers are snapping up French property bargains following last months election, in what is described as “once in a decade” conditions.
Trevor Leggett, Chairman of Leggett Immobilier comments on the recent surge in demand for French property.
It was a timely photo opportunity between David Cameron & Francois Hollande in Paris yesterday. One could almost imagine the British premier asking M Hollande whether yields are better in the 8th Arondissement or on the Cote d’Azur.
damien - cote d'azur
Leggett’s sales in the first quarter jumped by 40% and, following the election result in early May things have really exploded. It’s clear that a Conservative majority has given confidence to UK buyers who see the triple whammy of low prices, cheap financing and a weak euro as an exceptional opportunity.
To illustrate that last point here are two examples of properties around the €850,000 mark that Messieurs Cameron & Hollande would have had fun discussing.
damien - paris
The first is in Paris, the second on the Cote d’Azur. A purchase of this nature would have cost you around £725,000 this time in 2013, around £695,000 this time last year and just £605,000 today. That’s a saving of around £120,000 over the last two years.
Add in the facts that prices have dropped in recent years and that you can get a fixed rate mortgage for around 2.55% with an 80% loan to value and our view is that these are “once a decade” buying conditions.