Overseas property buyers continue to outstrip supply

26.11.2008 11:58:23 It has been revealed that the overseas property hotspots in Southern France are seeing demand from overseas property buyers continue to outstrip supply.

(live-PR.com) – The French National Estate Agents Federation (FNEAF) reports that French property prices overall rose by 7.1% in 2006, 3.8% in 2007 and 1.7% in the 12 months up to July 2008 – making it one of the few places in the world that has seen continual price rises throughout the credit-crunch.

Liam Bailey, chief market analyst for upcoming property portal Property Abroad had this to say of the revelation:
“France has seen such continued – if steady – increases in property values, mainly because it never really became swept up in the overseas investment boom. In the last 2-3 years thousands of savvy people with a pound to spare decided to put their money into overseas property, but did so, mainly in off-plan properties in emerging markets where prices were incredibly low, and the opportunity presented itself for immediate high-level gains and incredible rental yields. France never exactly offered an abundance of these properties, and so has and will remain to be one of the favorite places for people [especially Brits] buying a resale property as a holiday home.”

The locations noted as being continually successful in terms of overseas purchasers by the FNEAF were, particularly Cannes joined by its Southern France neighbors: Cap Ferrat, Mougins and St Tropez.

Property Abroad have some excellent properties in Southern France, including fantastic one and two bedroom apartments in central Cannes, just a short walk from the area’s best known Palm Beach. The apartments, over five floors start at just (euro) 282,000 and have terraces overlooking the beach.