Monday, September 26, 2011
France now UK's top 2nd home choice
Good old Savills.
They have published some research into where UK buyers invest in second homes. You can see their findings here and they open their comments with:
"France has replaced Spain as the favourite destination for second home owners to invest. Its perception of stability, limited house price decline and ease of access help make it a safe bet for UK buyers"
What's more they gave an exclusive preview to respected property journo Graham Norwood and you can read his article in the Daily Telegraph here. An extract I liked was:
"Prices across France fell 20 per cent between 2007 and 2009, but are bouncing back. Estate agent Century 21 reports an 18 per cent rise in Paris last year, while FNAIM, the estate agents’ association, reports five per cent rises across France this year.
“French banks have continued to lend on second homes, stimulating the market,” says the Savills report. Now is the time to buy before further increases".
As regular readers will know I take French house price rises/falls with a huge dollop of salt but I can't help feeling that French housing looks as good as (or better than) just about every other European asset class at present.