Investing in the French Property Market
Expert explains why investors need to be quick
"French and foreign investors are investing heavily in France's thriving property market," explains Sharon Hill, the co-director of Your French Property, specialist providers of French investment property to the overseas market. "This high demand for French property means investors need to act fast because really good developments don't hang around and can sell in a matter of days!"
Leaseback apartments in Provence, France
Your French Property recommends that when a buyer has found a property they wish to purchase, they option it (put a hold on it) along with other properties within the desired development.
"If you wish to option a property, you should consider choosing your preferred two or three properties. This is because when they sell quickly, your first choice may no longer be available, but at least we will be able to ask for your second choice straightaway without needing to come back to you and risk your next preferred property being reserved by someone else in the meantime," says Ms. Hill.
"When it comes to optioning a property, it's also worth noting that an option is not legally binding, so the property will only be held by the developer for three working days, or sometimes less, though we can advise you on this. After this time, you will need to pay a reservation deposit. For new build property, the deposit payable is generally between two and five percent of the price. It does vary from one development to the next and French law restricts how much can be paid. We understand that this can all be very daunting for foreign investors; that's why we offer extensive advice and assistance throughout the buying process."
Your French Property was created to meet the demand for an unbiased and professional approach to buying French investment properties. The company specialises in providing French leaseback, buy-to-let and new build property to the overseas market.
Leaseback apartments in Provence, France
"We are proud to have established long standing relationships within the French market, enabling us to represent the major developers in France and cherry-pick the best developments as they come onto the market. From city centre apartments to six bedroom luxury ski chalets, our portfolio is carefully selected to represent a wide spectrum of properties to suit all investors or simply someone looking for the perfect holiday home," explains Ms. Hill.
"Our dedicated team of bilingual staff is on call to simplify the purchasing process and help investors free of charge. Not only do we offer reliable, honest information to help our clients make well-informed investment decisions, but we also guide them through the purchase process and beyond."
Your French Property has enjoyed considerable success over the years, with the company's range of leaseback properties proving popular with investors looking for peace of mind and good returns on their initial investments.
"The leaseback scheme is great if you're looking to invest in the French property market because it enables you to purchase freehold a property which you then earn a guaranteed rental income from. When leaseback schemes are sold, there is a pre-selected property management company to whom you leaseback your property for a period of time, which usually ranges between nine and twelve years," says Ms. Hill.
"During the period you lease your property to the management company, you have the peace of mind of owning it outright and benefiting from a guaranteed rental income, yet you don't have any of the worries related to letting out and maintaining the property. This is one of the reasons why the leaseback scheme is so popular and why there aren't enough quality projects to meet demand."
The company has also enjoyed success with its range of buy-to-let properties.
"There's an excellent range of benefits available to you if you choose to invest in the French buy-to-let market, including a host of special buy-to-let insurances popular in France, which generally include cover for unpaid rent, wear and tear, legal assistance and vacant periods in-between tenants, covering lost income," explains Ms. Hill.
"This is something that doesn't exist in other European countries as such, and is one of the reasons that the French buy-to-let market is so attractive. The yields are generally lower than in some eastern European countries but what is the point of a high yield if the property is never occupied?"
Your French Property specialises in providing the best in French investment properties to the worldwide market.
Click here to view the company's range of properties
© PropertyIndex.com 2007 | Last Updated: 12 October 2007