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France: Time to go private?

French property investors are shunning traditional property purchase methods, claims one company.

According to the French property portal VEF, record number of French property buyers are choosing to buy privately and save thousands of Euros in French agency fees.

Trisha Mason of VEF explained why this was happening: "It is wise to save those pennies in this current market. We have received reports that French property buyers are saving thousands by cutting out the middle man and buying directly through the vendor.

"Nearly 30% of mortgages approved for French property purchases were private transactions last month and vendors are clearly seeing the benefits of taking a more proactive approach to selling their property in France.