Demand for french property rises

Antibes, France (Photo: Jack French)

Knight Frank's latest French residential report reveals that enquiries and registrations with site have both jumped in the first few months of 2014.

Between January and May 2014, registrations with Knight Frank from potential buyers more than doubled year-on-year, while enquiries have soared 144 per cent.

Knight Frank attributes the rise partly to the time of year - Spring is always a peak period for the French market - but notes activity has been "particularly pronounced" since the start of 2014. Indeed, France overtook Spain as the most popular place to buy overseas property on TheMoveChannel.com earlier this year, as low property prices and even lower mortgage rates left the country's market more affordable than ever.

Mark Harvey, Head of the French network, comments: “This 144% increase in enquiry numbers suggests that the market is near the bottom. Increased realism on the part of vendors looking to sell is creating some unique buying opportunities. Moreover, credit remains cheap and despite the “tax chat” surrounding France the treatment of foreign ownership remains remarkably benign.”

Propery between the €1m and €5m price bracket attracted the most viewings between January and April 2014, although the sub-€1m bracket enjoyed the largest growth in applicant numbers.

The Cote d’Azur remains the most sought-after place in France, accounting for 33 per cent of viewings, ahead of the French Alps (25 per cent) and Provence (18 per cent). Online viewings for the latter jumped 8 per cent year-on-year.

Dutch, Swiss, Italian, American and Spanish buyers have driven the majority of demand this year, with Russian buyers having less of a presence than in 2013.