Money transfer news: French property market 'on the rise'

The French property market is experiencing an improvement in conditions, which could prompt overseas buyers to research their options regarding money transfers.

According to Sharon Evans, director of Cle France, a property specialist in north-west France, there is "a considerable improvement on this time last year".

She added that interest among French buyers is stimulating the lower half of the market, which in turn is "going to interest and attract English buyers as well".

Ms Evans added: "There is more interest and activity at the lower prices and that is starting to filter through now past €100,000 [£87,700] and up to €150,000. It is having a domino effect."

However, buying a property in France will come with additional expenses for people from England, especially when the foreign exchange rate between sterling and the euro is not in favour of the pound.

It is worth researching your money transfer options carefully before you decide to send money abroad to buy your dream property in France.

Sterling's foreign exchange rate has been on a downward trend against the euro for the majority of 2011.

This afternoon (May 11th), the pound bought €1.14; down from the year's high of €1.20.

Despite this, foreign property investment is still a strong trend among Brits, with recent data from the Office for National Statistics revealing that around a quarter of a million individuals have a second home abroad.

Peter Mindenhall, researcher at investment advice firm IPIN Global, advised people considering investing in property abroad to be diligent in their decisions.

"Taxation, interest rates and currency exchange rates can all influence the outcome of an investment – many of which are easily overlooked and not considered when making international investments," he added.

While you can avoid these difficulties by investing locally, Mr Mindenhall noted that you will not be able to access the same level of diversity as you can overseas.

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Posted by Sarah Pitton