The number of Brits looking to purchase a property in France before next year’s Brexit deadline is soaring, new data shows.
According to Home Hunts, a France-based property search engine for affordable housing, there was a 100 per cent increase in British enquiries at the end of 2017, many of whom were motivated to buy before March 2019.
“The interest from Brits was a little up and down in 2017 due to the pound losing value against the Euro since the Brexit referendum,” the report noticed. “But having sat on the fence for a while, many Brits have just decided ‘enough is enough’ and rather than continuing to wait, they have looked for ways to make things work.”
Tax reforms made by President Emmanuel Macron earlier this month, designed to give the property market a boost, may have also led to the growing interest in the country’s property market.
The French property has been slowly strengthening over the past two to three years. The domestic market in many areas has become much more buoyant and there has been a significant increase in foreign investment too, particularly since the election of President Macron.
According to Home Hunts’ predictions, property prices in France are set to rise by eight to 10 per cent in big cities such as Paris and Bordeaux during 2018, fuelled largely by international buyers (particularly in the US, UK and mainland Europe).
Other areas where Home Hunts’ expect to see strong property price increases this year include the French Riviera, Languedoc Roussillon and some parts of the French Alps.
Article published 10th January 2018