New house price index to make life easier for French euro mortgage house buyers
The French real estate market has traditionally been very high on the list of priorities for both UK residents and expatriates abroad wishing to invest in holiday or retirement homes. With French expat euro mortgages relatively easy to come by for the average foreign buyer, buying in France is a straightforward process too.
The Prix de l’Immobilier index of prices across France, provided by the website vendre.seloger.com, gives a weekly view of average property prices expressed through a simple infographic with an arrow pointing upwards, downwards or sideways. The data is available on localised basis.
The reports are built up from a range of sources including banks and estate agents. Up to now, data was mainly available through the Notaires de France website, with prices inputted around six months after a sale has completed.
The new Prix de l’Immobilier index shows data for 6000 towns across France, with information expressed in price per sq. metre. Information is available on different property types such as houses and apartments, making this a very helpful tool for expat buyers who have limited knowledge of current property values.
With mortgage rates as low as 1.80% for foreign buyers, expat euro mortgage brokers Offshoreonline.org has seen a recent upswing in both enquiries and deals completing over the past six months. Guy Stephenson, a spokesman for Offshoreonline.org commented, “France is a very attractive option for many expat buyers. The combination of relatively low prices, cheap mortgage rates and recently, a weak euro, have all combined to increase sales activity amongst overseas buyers. This new index will certainly be helpful, but we would also encourage buyers to compare data sources when conducting their research.”