Whats happening the French Property Market

An interesting Property Survey

BNP, one of the leading french banks have carried out a survey on the non-resident market.

Some interesting conclusions:

• France is relatively shielded from competition from other countries for foreign buyers – minor reservation being complex administrative procedures


• Foreign buyers only moderately affected by the current economic crisis
  

Trends

• Transaction numbers down 9% (2008 v. 2007)


• Average purchase price down slightly to €230,000


• Non-resident share of property market is 7% (+1 point)
  

Outside Paris

• 72% of overseas buyers are European


• Big fallers – Great Britain and Ireland


• Big risers – Belgium, Russia and Germany


• Average purchase price is slightly lower: New build €295k (-4.1%) & Resales €240k (-2.9%)
  

Paris

• 52% of overseas buyers are European (down from 57% in 2007)


• Portugal and Italy feature strongly


• Transaction numbers down from Great Britain (4% to 3%) & Ireland (1% to 0.5%)