The market for non-resident British buyers in France has shown itself remarkably buoyant in the aftermath of the UK’s decision to leave the EU in June 2016.
According to a recent report prepared by BNP Paribas (International Buyers), the British still outpace other foreign nationals in their bid to become owners of a property on French soil. The Report highlights the country’s way of life and climate as still exerting a major influence but that low interest rates and the continued supply of good value properties are increasingly a factor.
BNP Paribas reports that for 2017, so far they have seen a 6% increase in the number of requests received globally for finance when compared to 2016.
Any concerns that Brexit may have impacted on UK residents’ decision to purchase in France seem to be unfounded according to the Bank. It reports that 61% of those surveyed with a project involving a purchase in France have not changed their plans whilst 30% have actually fast forwarded them.
It is noted that some British investors appear even more determined to carry out their project in spite of the potential uncertainty this involves. For others, however, issues regarding the possible regulatory or tax issues do exert a negative impact.
The report backs up what our French specialists have experienced during conversations with clients. For many, owning a property in France has been a long held dream or represents a lifestyle option which they are not willing to abandon just because of Brexit.