Primelocation see huge boost in overseas property enquiries

Following the positive figures from both FrenchEntrée and Rightmove Overseas it's heartening to see this press release from Primelocation International.

1.8 million foreign property searches in December is not to be sniffed at....and it's an annual increase of over 200%.

It's clear that people are beginning to once again turn their thoughts to buying a place in the sun. Let's hope that the economy continues to improve and that the pound continues to strengthen agains the euro.

Given both these factors then enquiries should translate into sales and the transaction numbers will take off.

If you are contemplating buying in France then now would seem a good time while it remains a buyers market and the bargains are there to be had.

www.cognacproperty.com

British house owners in France make £1 billion

This amazing statistic has been revealed by the foreign exchange team at Close Brothers:

Between 2008 and 2009, property prices in France declined by around 6.63%, but because of the rise in the value of the Euro, if those Brits owning property there had sold-up and converted the money back into Sterling, they would have actually made money. Close Treasury estimates that there are around 98,000 properties in France owned by British citizens, and between 2008 and 2009, the combined Sterling value of these would have increased by just over £1 billion, or £10,373 per property.


Of course the currency swing could have been the other way and we'd all have been £10,373 worse off but it's nice to know that despite the recession we've actually had a little bit of good fortune over the last 18 months.

Rest assured though that I won't be blowing my slice of the billion pounds on a caribbean cruise just yet.

www.cognacproperty.com