Brexit – Three Weeks On
Tim Swannie, Director of Home Hunts Provides Insight into Property Enquiries in France
Thursday 14th July 2016 (French Riviera):
Since June 23rd – 11 French property purchases have been agreed; 3 of which were to British clients (prices range from approx. €730,000 to just under €6M). These purchases have been in the Var, Riviera and Aquitaine regions. The other 8 are split between The French Alps, Provence, Languedoc, Paris and the Riviera.
Home Hunts is currently negotiating 7 further offers on properties. These buyers are British (1), Dutch (2), UAE (1), German (1) and Scandinavian (2)
Total international enquiries are slightly lower than this time last year but not noticeably so (less than 10% lower). We are still getting a large number enquiries from clients in the Netherlands, Belgium, Switzerland, Germany and Scandinavian countries for all the areas of France we cover
Enquiries from the UK however are vastly different, nearly 50% lower than this period last year which is understandable under the current political circumstances
In the past, the majority of Home Hunts enquiries from the UK were for holiday homes, this has changed a lot in the recent month. Since June 23rd the only increasing area of UK buyers is from those who wish to relocate. UK based enquiries for Paris have risen dramatically; mainly coming from people working in Finance (London based generally)
We are seeing a similar pattern in the French Alps too for homes within easy reach of Geneva. This is not as high as in Paris but there is still a noticeable sharp increase
We are also getting a good number of enquiries for the Dordogne, Languedoc, Provence and Riviera from UK families and retired couples looking to relocate
Due to the lower exchange rate from Pound to Euro, we are speaking to a lot of our British buyers and advising that even if they wish to buy in cash, it is a good idea to consider a mortgage at the moment instead. Interest rates are very low and it makes sense to take advantage of that and borrow the money in Euros from a French a bank. Most British vendors have quickly become more flexible since the upset of the Brexit announcement; particularly if they are changing their money back to sterling.
There is a long road ahead with Brexit and the exchange rates are likely to be volatile, so it is very important to choose the right time to make any transfers. Home Hunts work with currency exchange and mortgage experts who would be happy to advise
In this unique and challenging climate, EVERYBODY is looking for a good deal. Having a buyer’s agent such as Home Hunts that scours the entire market is really important so that purchasers can find the very best deals available on the market.
Director, Tim Swannie is available for phone interviews on request.
ABOUT HOME HUNTS:
Home Hunts specialise in finding luxury homes and investment properties throughout France, Monaco, Geneva, London, New York, Miami and shortly Spain. Home Hunts is a leading buyers’ agent; whose role is to find the hidden gems that the property market has to offer. The team collaborates with all of the best estate agents, notaries, developers and private sellers to provide the ultimate selection of properties in a desired area. Home Hunts work closely with clients, offering unbiased advice and support throughout the entire buying process and beyond.
SALES ENQUIRIES: Website: www.home-hunts.com / Tel: UK: +44 (0)208 144 5501 or France: +33 (0)970 44 66 43
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