France is a dream destination for many reasons. From delicious food items, stunning beaches to museums and art galleries in the exquisite landscapes— all of these make France a popular tourist destination.
People who are into real estate might be interested in getting a property in France. However, those who do not live in the country might face difficulties in investing in properties in France.
This is the reason they take a step back and do not get involved in property shopping in France.
However, if you are determined that no matter what obstacles come your way, you will get a house or villa in France, then this article is here to help you.
Keep in mind that there are no obligations for any foreigner to get property or land in France.
Here, you will get to know about the top five things you should look for when you are property hunting in France.
French property is not as costly as getting a property in the UK or the US. You can find so many ads for luxury property for sale in the South of France in a cheap price range. In that same amount, you might get a single bedroom flat in the UK.
The property price of France was hiked in the past few years; however, as per the latest reports, again, the property price had dropped 0.1% in 2020. Therefore, this makes it a good time to purchase property in France.
Investing in French property is always a profitable option because you can get the best yield by renting out your property in France.
You will get the opportunity to put your property on rent during the holiday season of Summer. On the other hand, people who are looking to buy properties in France or those people who visit France in winter to enjoy the sun also will love to take long-term rentals.
In short, the money you will invest in buying the property in France can get it back within few years by renting out the property.
Housing Market Stability
Due to the covid-19 outbreak, there was some instability in the housing market of France. However, the French property market is rising again. According to the marketing forecasts, the price of French houses can increase up to 3.5% during 2021.
As both the supply and demand are increasing, in case you are looking for a Mougins property for sale, this is the ideal time to contact a realtor now.
As already mentioned earlier, the French property market is rebounding strongly. As per the latest reports, the prediction is 950,000 property sales in a year will happen in 2021 across France.
The price of the French properties will keep on increasing in the next years too. So not only can you earn more by putting your property up for rent, but you can also get a solid price hike even if you think about selling the property to other buyers in the future.
The economic system of France is mixed that provides some private freedom as well as combined with government regulation and centralized economic planning. In the last five years, France had a compound annual growth of 1.5%.
From the above numbers, it can be easily detected that compared to other countries in Europe, the economy is better in France. Plus, tourism adds an extra amount to the revenue of France. Not only do the foreigners come to visit France during holidays, even the locals also enjoy the same.
All of these can help you to earn profit by putting your money in French property. So your ten-year projection of profit might sound sensible if you think about buying a property in France right now.