France looking increasingly attractive

South of France has traditionally been a hotspot for UK buyers looking to invest in overseas rental property. It has also been popular with retirees and professionals looking for a holiday home. However, it seems investors have widened their focus and are now snapping up property all over the country.

According to Pierre Williams of Inside Track Group (a company which conducts workshops for potential property investors), “Every region now has Brit ex-pats and holiday homeowners. Different regions hold different attractions and there are noticeable trends in who buys where.”

Williams says young purchasers are attracted to the nightlife of big cities such as Paris, with plenty of distractions in the form of bars, restaurants and nightclubs. On the other hand, older investors are attracted to more quiet, more rural areas. Many continue to opt for properties in the Provence area (famously used as the setting for the Peter Mayle book and subsequent BBC television series A Year in Provence).

France apparently offers the best quality of life in the world. That was the conclusion reached by International Living magazine when compiling their annual ‘quality of life index’ for 2007. France also came top in last year’s index. So what is it about the country that made it the magazine’s first choice two years in a row?

According to International Living, France offers reasonably low cost living compared to many other Western countries and an “impressive” range of properties available around the £50,000 region. The nation’s infrastructure is also rated highly, with the transport system coming in for particular praise. High-speed TGV trains apparently cover long distances in les than half the time traversed by car. Plus many major cities have comprehensive and integrated bus and rail systems.

Another thing that made a French property attractive to the prospective buy-to-let investor is the increase in tourism that followed the introduction of a plethora of cheap air links between Britain and France. According to the Daily Telegraph, surveys show the prices of properties within easy reach of a budget airline destination have gone up twice as fast as similarly attractive holiday spots, which are harder and more expensive to reach.

One potential downside to living in France is the very high rate of income tax. However, this would only affect people living full-time in the country and would not have any bearing on investors, who are simply building a portfolio of properties for the rental market.

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France looking increasingly attractive

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