French property market ‘is fairly flat’

Posted 29/05/2012

The property market in France is fairly flat at the moment, according to one expert.Peter Elias, founder and managing director of estate agent Allez-Francais, stated prices look to be stable outside of the nation’s bigger cities such as Paris.However, he noted there are significant inflations in the cost of properties in these areas.”There is however, a very high number of properties on the market, meaning that buyers are frequently able to negotiate down the asking price,” said Mr Elias.He added there is currently uncertainty about the future of the housing market in France due to the recent election of socialist prime minister Francois Hollande.Mr Elias suggested it could be the case that the euro currency as we know it is terminated over the course of the coming months and years.Graham Downie, founder of Cognac Property Services, recently claimed French property prices are likely to level off later in the year.Matthew Cameron, who heads Ashtons Legal’s French Legal Services team, adds: “Overall, the market may be relatively flat, however we are still seeing a good number of clients seeking legal advice for their purchase in France. This reflects a common sentiment that while there may not be as many people investing overseas, those who do are looking to ensure that everything is in order with their purchase.”Posted by Matthew Cameron