THE DEUX-SÈVRES MONTHLY
France is more affordable than you think!
by Peter Elias.
There is increasing evidence that buyers are returning to their favoured overseas markets of France & Spain, keen to take advantage of the discounted property prices. They are currently being assisted by the ￡ trading above the 1.20 Euro rate and fears that the Eurozone would collapse have now been eased. Recently 800 Euro zone banks have tried to replicate America’s recent success in rising consumer confidence and borrowed 530 billion Euros in the largest ECB liquidity operation of its kind. N.B. This is not a Greek style bailout. This is a growth stimulus, which should boost the property market as banks start lending again. It is worth noting that the USA initiated a similar scheme last year and since the start of 2012 America has:
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• Reduced unemployment by 250,000 people. • Consumer borrowing is near a 10 year high. • The DOW Jones has breached the 13,000 mark for first time since 2008. • US property prices have risen by 4.3%. • US GDP is expected to increase by 3% • New build property is up 9.9% when compared to the same period in 2011 • US Stock market has experienced its best quarter since 1998. These figures are in complete contrast to the storm of negative media in the UK and Europe which has sapped consumer confidence to the extent that potential buyers are tuning off and walking away from fantastic buying opportunities. Fortunately a lot of professional investors feel the recent surge in positive US data coupled with the boom in US property prices and the 5% drop in Gold is proof that the USA has “turned a corner”. As the saying goes “when America sneezes the world catches a cold”. If you are a cash buyer you won’t get a better opportunity to buy than the one today! Professional investors and representatives from Scandinavia, Russia, China and America are already buying. Peter Elias (Agent Commercial) www.allez-francais.com With thanks to William Smyth , Trading Development Executive, Foreign Currency Direct PLC. (See advert at top of page).
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