More wealthy foreigners buying property in France
More foreigners bought property in France in 2010 than they did in 2009, suggesting that the love affair with the country has returned as international buyers return to the market. Sales of French properties to international buyers increased by 21% in 2010 from 42,300 in 2009 to 51,200 last year, according to the third Investing and Living Abroad survey by French bank BNP Paribas.
The survey showed that there is a significant increase, some 6%, in the average transaction amount up to €238,000, fuelled largely by the Ile de France, the area around Paris.Similarly, it’s important to look at where these buyers are coming from. It’s clear that the rise in expat French nationals coming home is going to continue while UK buyers have consolidated their position as the third largest market behind the Portugal and France. Russian and Asian buyers remain small in terms of transaction numbers but continue to generate headlines due to the size and glamour of their purchases.