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News: Brits undeterred by Les Miserables

Thu, 11 Oct 07

France is no longer the European powerhouse it was at the turn of the millennium...

In short it is struggling, at a time when the world economy is in a period of expansion. However, with many from the UK actively looking to invest in French property, there has never been a better time and with hopes of Nicolas Sarkozy’s promised ‘La Rupture’ to put things back on track, the French property market is full of opportunities.

Anthony Fernandes, Director of SPC Overseas says, “France, as a major European economy has been through a torrid time in recent years. This cloud which has been hanging over France for some years is now expected to ‘lift’ however there will be scattered showers as the skies clear.

Period of unrest

The problem lies in the fact that France has not been performing in the overseas markets.  With rising wages, strong consumer spending, coupled with restricting labour issues, it has caught a cold. This period of unrest has led to increased numbers of educated French looking for pastures new overseas, with the UK being one of the most popular.

However with Sarkozy promising growth and Paris in particularly starting to attract strong foreign investment, the tides are surely changing. What hasn’t been affected is the numbers of UK investors into property. If anything this trend, has increased as they take advantage of a sluggish market. With ‘La Rupture’ now in sight, UK investors could see considerable gains over the next five years as France gets into the fast lane.”

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