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Foreign investment in French property 'growing'

Thursday, March 18, 2010

Source: Catherine Deshayes

The results of a recent property survey suggest that international money transfers to France are on the rise.

According to the report from Jones Lang LaSalle, the last quarter of 2009 saw foreign investment in the French property market almost double against figures from the third quarter.

Chris Staveley of Jones Lang LaSalle commented: "The growth we are expecting to see this year will be fuelled by an improvement in the availability of debt, the recognition that pricing has probably hit or even passed its floor, slightly more appetite for risk-taking, and more assets coming to the market."

While prices are low, recent comments from property journalist Marc Da-Silva highlight the effects of currency exchange rates when moving abroad.

Mr Da-Silva said that exchange rates could have an "absolutely massive" effect on property prices for people buying overseas.

Using a broker to move money, as opposed to making a bank transfer, could allow people to get a much better rate of exchange when moving large sums of money overseas.

Source: www.hifx.co.uk