If you are planning to make investment in overseas property, and especially keen on overseas property for sale in France, then let me share a fact with you that this is the best time for buying overseas property in France. And if you are cash rich, and are well funded you are indeed lucky!
The reason for this is that (according to leading financial newspapers in France) 2008 is the first time in last ten years or more that property prices in France have come down. And with prices of houses and properties falling, and as obvious fallout of it - credit more difficult to obtain, cash buyers are enjoying win-win situation. Believe me, people with cash literally hold all the cards.
Not very long ago the French estate agents association FNAIM had reported that house prices in France have dropped by approximately 3.5% in the third quarter, and were now on an average approximately 5.9% lower than they used to be in the same period last year in 2007. The noose tightening of credit-conditions has proved to be a crucial factor that has affected the market conditions.
The interest rates have gone up from what used to be at around 4% per annum to close to around 6% in today’s date. Not only have the interest rates gone up but also the sanctioning of loan for buying property has become far stricter. The banks in France have incorporated documentation, paper work and terms and conditions, which are difficult to furnish.
As far as the prices of apartments in France are concerned they have also dropped by 2.3% in last quarter, and by 3.1% in the past twelve months.
Needless to even mention that France is a great place to live. The quality of life is such a lot better in France. The infrastructure, especially the roads there deserve a special mention as they are an absolute joy to drive on, and the weather can beat that of United Kingdom.
Whether you are looking for a chalet or a farmhouse, even if you are looking overseas property for sale in France for your first home, a family residence, a holiday apartment or a comfortable retirement home, make sure you are approaching the right and honest Overseas Property Dealer in France. Choose a real estate agent who is capable of guiding you through the legal process of buying overseas property in France. He/she should be in business for some time and should have thorough knowledge about the legal intricacies involved in buying overseas property in France.
Investing in property involves a fortune so you better do your homework properly because once your funds or deal falls in the wrong hands that’s the end of it. I don’t mean to scare you by any means. I am just trying to be as straight forward as possible so that you don’t regret it later and your property does what it is suppose to. Increase your self worth in more ways than one. Good luck!
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