Business as usual for British buyers as newly elected French president François Hollande will have zero impact on French property market says expert Danny Silver
The battle between François Hollande, the Socialist challenger to the incumbent French President Nicolas Sarkozy finally came to a head last Sunday at the 2012 French Presidential elections with Hollande emerging triumphant.
But what will this mean for Brits thinking about entering the French property market?
Danny Silver, expert in French real estate and MD of The Villages Group, France comments,
“Being married to a top French economist and having lived in France for the past 15 years, I have been exposed to the French elections as they happen. With French property being my speciality I can say that going on past experience, the effect on the property market will be minimal to zero now that Hollande has got in.
“It is important that British buyers remember that this election was simply a vote for the French Presidency not the Government so there will be no particular implication on the real estate market. It’s business as normal!
“Indeed, the legal process (which has changed very little in 200 years) will remain the same with France continuing to be one of the safest nations in world to own real estate according to the IMF, World Bank and US Federal Bank. You only have to look at real estate litigation rates in France which stand at just 0.3% compared to Europe at 3.9% and the US around 8%.
“The new Presidency will not impact on many of the factors that affect the purchase of French real estate such as currency or the buying process, and with France consistently ranking as one of the most popular countries in which to live and with property prices remaining stable there is no need for potential British buyers to worry.”
For more information on the French property market, the impact of the new elected President Hollande or The Villages Group, please call + 33 1 4007 8625, email villages@pdfparis.com or visit www.thevillagesgroup.com.