UK buyers are battling Americans, Australians, and Far Eastern investors in the popular regions as favourable exchange rates fuel demand for French property, says France specialist FrenchEntrée.
Guy Hibbert, managing director of FrenchEntrée, says UK buyers are in the strongest position for years to purchase at a good price thanks to the strong performance of sterling against the euro. But in sun-soaked areas such as the Mediterranean coast, they are up against international buyers who are also seeing their money stretch further.
“There is a two-tier property market in France,” continues Hibbert. “Foreign buyers looking to buy in enduringly popular regions such as the Dordogne and Côte d’Azur will still be required to pay a premium over native market rates for picturesque rural period properties.”
Among FrenchEntrée’s latest market findings are the most popular buying locations (Languedoc Roussillon, the Dordogne and Poitou-Charentes, all in the southwest of the country) and that overseas buyers are traditionally willing to spend between €250,000 and €400,000 (£191,000 and £312,000) while the average French citizen spends around €220,000 (£172,000) on their home.