Investing and living abroad - BNP Paribas Observatory– edition 201230th September 2012
After a year marked by a stabilisation in the number of transactions in 2010, the non-resident market declined (-7%) in 2011. The provinces have been particularly affected (-11%) whilst Ile-de-France has recorded a slight increase of 2%.
The average transaction amount has increased significantly throughout the country as a whole which seems to confirm the upgrading of non-resident customers. Recourse to financing has also increased in line with this trend.
Client profile: UK focused
French expatriates were the main property purchasers in France in 2011. The British are still in third position, but have
declined slightly (-2 pts) whilst Western Europe as a whole has stabilised.
Compared to other foreign nationalities, British buyers are represented in a larger amount of regions. South of France is still the main area where the UK buyers like to invest. More specifically, Rhône-Alpes and PACA are the top 2 favourite regions.
UK Buyers prefer buying existing properties rather than new built. They also prefer buying houses rather than flats.
France on the European property market
The French real estate market remains a sound investment and today's customers are choosing France more spontaneously than other European countries which have been more affected by the economic climate. This has led to a high level of satisfaction in terms of purchasing in spite of growing uncertainties surrounding the future of prices (37% in 2012 compared with 21% in 2011).
An equally high level of satisfaction can be seen regarding real estate professionals (91%).
Internet in the purchase process
The market is developing and becoming more international and more "digitised". Purchasers are gradually changing their property purchasing habits in France. The Internet is becoming a major or even essential tool (in around 50% of cases) which is enabling them to travel less and prepare more for their acquisitions upstream.
Source: BNP Paribas Observatory