French property market 'bottomed out'

Making an international money transfer to France soon could help Brits to buy a dream property at a good price.

According to recent suggestions, the market has "bottomed out" and prices in certain areas are beginning to rise again.

Figures from National Association of French Estate Agents (FNAIM) revealed that prices in Paris rose by 2.5 per cent between July and September.

In addition, Ile de France saw increases of six per cent and Aquitaine, Provence and Brittany also saw property values rise.

FNAIM told Overseas Property Professional that the main reason for "the upturn in fortunes" in the market is the drop in mortgage rates, which are currently lower than they have been since World War II.

"The end of tax relief and the withdrawal of tax breaks for property purchases and investments from January 1st 2011 is also spurring overseas property buyers into purchasing now," the agency added.

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Posted by Sarah Pitton