UK house hunters lead 6% growth in French non-resident property transactions
Figures release by BNP Paribas and the Notaries de France show the number of properties bought in France by overseas residents grew again in 2018 by 6%. UK nationals remain the largest single group, accounting for 27% of all purchases by non-residents in France. The number of transactions by UK buyers alone grew by 3%.
Commenting on the figures, Guy Stephenson, director of expat mortgage brokers Offshoreonline said, “Even with the negative publicity surrounding Brexit, British buyers maintained their interest in the French market, pushing forward to take advantage of continuing low euro mortgage interest rates. The stability of the market, which again edged up in value terms in 2018, offers buyers additional reassurance too.”
Key regions for overseas buyers remain Paris, Provence Alpes Cote d’Azur and the South West region of Nouvelle Aquitaine, where the British continue dominate in areas such as the Dordogne.
Fixed rate mortgages now account for 47% of all loans, with the typical buyer likely to be aged 50. Interest only loans remain popular, accounting for 22% of all loans offered by BNP to overseas residents.
Offshoreonline.org is offering overseas and expat buyers of French properties euro mortgage interest rates starting from 1.21%.
For further press information:
Guy Stephenson +44 (0) 20 8333 9125
Email: [email protected]
Note to Editors
Offshoreonline.ORG is a UK based specialist expatriate and international broker offering advice on UK, French, Italian, Portuguese and Spanish mortgages. Offshoreonline.org is the website of Expat mortgages Limited, an FCA regulated entity.
Offshoreonline.org .org pioneered the concept of the discount broker in the expatriate market when it started offering no and low fee deals in 1998.
Overall, the company aims to bring high quality UK regulated broking services to UK expatriates worldwide in the areas of UK and euro mortgages. The company is UK regulated by the FCA for credit broking business, giving offshore customers the reassurance that they are dealing with a reputable organisation.