In March this year a flurry of press releases hit the headlines with all kinds of impressive statistics and optimistic claims. One French property website claimed they were advertising the highest ever number of properties for sale, having broken the 6,000 properties mark. Another stated they were receiving a 30% increase in visitors to their website. A French estate agent went on the record stating that not only had April 2010 seen an increase in viewings, they had actually doubled. Mortgage brokers, not wishing to be left out, boasted that they had received a 79% increase in enquiries for property finance.
There are many theories on what is currently playing out in the French property market. Some feel that people are buying now so that when the exchange rate strengthens in favour of sterling, they will in the long run have paid less for their French home. Others think property prices have reduced. An increase in the availability of euro mortgages has also been suggested as a factor aiding market confidence. Others feel that many vendors removed their properties from the sale market during the recession. As these quality properties come back on the market in 2010, quality buyers have also resurfaced.
