Slow recovery predicted for French property market

Britons looking to transfer their money abroad have been warned not to expect a quick recovery in the French property market.

Recent research from French estate agent association FNAIM has shown that despite a 5 per cent fall in 2009 prices when compared to 2008, most people do not think that now is a good time to buy or sell property.

The fall in values varies by department and has seen the Alps particularly badly hit.

However, other departments such as Aquitaine and Languedoc Roussillon saw a negligible decrease across the year.

Andrew Hawkins of Chesterton Humberts International told Property Wire that he believes the fall in confidence is due to the fact that "many buyers over stretched themselves and have been experiencing financial difficulties".

Mr Hawkins added that he believed things would pick up in France midway through 2010.

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Posted by Chris Barber