First-time buyers 'looking across the Channel'

24-Jul-2008

Financial woes are causing some first-time buyers to look across the Channel towards France, it has emerged.

A spokesperson for information portal Property Finder France cited the country's quality of life and lower cost of living as reasons for the trend.

"Whereas it used to be very much the retiring couple who were looking for somewhere nice to retire, now - with the property situation being what it is in this country - a lot of first-time buyers and younger couples are moving to France purely because it's cheaper and the quality of life is better," confirmed Laura Sturgess, the site's web services research assistant.

"They're looking at the metropolitan areas - the centre of France, near Paris and around that area - rather than looking at the typical south of France [areas]," she added.

Ms Sturgess' comments follow predictions from property firm Leapfrog earlier this year regarding the credit crunch and its effects on the French market.

It speculated that the sector would remain unscathed due to tax reform and a lower level of pricing relative to wages in the country.

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Undersupply of homes 'hindering first-time buyers' French property market 'should remain unscathed'

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