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Overseas Property News
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French property mortgage market report
Country: France
28 July 2009 Athena Mortgages has launched a monthly French Property and Mortgage Watch, which should provide a useful overview of the French property market and an invaluable pool of information for potential investors looking to invest in property in France. July's report includes French property price trends, gross yields information, and some of the most popular areas to invest in property. The report says that the French residential property market is showing encouraging signs of improving, with average prices up 3.9% in Q2, following a lull in the market caused by the global financial crisis. But France’s cautious approach to residential mortgage lending, has effectively reduced the impact of the global economic downturn, and seen France’s property market fare better then most neighbouring countries such as Spain and the UK. Average residential prices in France have depreciated moderately, falling by just 2.5% on an annual basis. France’s rather sensible lending criteria, which has been in effect for many years, generally only permits anyone taking out a mortgage to borrow up to three times their total gross monthly income, helping to prevent sub-prime mortgage type loans. While mortgage finance in the UK remains difficult to secure for borrowers with a small deposit, in France it is still possible to get a mortgage of up to 100% loan to value (LTV). The report adds that the buy to let sector in France is attracting particular interest from property investors at the moment, with greater yields on offer in light of recent French property price falls. The average annual gross yield in France is currently 5.6%, according to the Athena Mortgages report. Popular areas include in which to invest in property includes the medieval town of Troyes in northeastern France, with average gross yields of 6.3%, Perpignan in the South East with a gross yield of 6.2% and Chateauroux, in central France (8.5% yield). John Luke Busby, director, Athena Mortgages, comments: “For second home purchases, the French property market is stabilising and a degree of normality has returned. However, what has changed is that while, in the past, the majority of British buyers opted to finance their French purchase in the UK, very competitive interest rates, the lower sterling/euro exchange rate and the availability of French funds are seeing more people opt for a French mortgage to buy their second home. “In the second quarter of 2009, we’ve seen a 42% rise in the number of mortgage enquiries compared to the first quarter and a 22% increase on the second quarter of 2008.”
See Also: France, Marc Da-Silva, Mortgage, Overseas property investor news
Some properties in France
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Price: £15,293
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Type: House
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Bedrooms: 3
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NEW PRICE!!
Total renovation required of this cottage which is ideally situated near to Josselin, in fact it is possible to walk to Josselin from this little hamlet. Also near to the Nantes -Brest canal.
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Price: £16,098
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Type: Apartment
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Flat leisure land of 10 000 m2 located 500 m of a village with all amenities. No water or connexion to electricity. Ideal for gardenning or leisure for the week-end. Land along a country road with an easy access. Lovely views.
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Price: £23,342
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Type: House
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Village house to fully renovate with 80 m2 of possible living space and an interior terrace that could be uncovered (plastic roof). Non habitable as it is, electricity and plombing to foresee. The roof needs to be checked . The floors are sound.
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Price: £25,756
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Type: Apartment
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Flat leisure land of 18 000 m2 located 500 m of a village with alla amenities. No water or connexion to electricity. Ideal for gardening or leisure for the WE. Land along a country road with an easy access. Lovely views. Peaceful location!
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Price: £28,000
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Type: Apartment
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Bedrooms: 1
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Chateau de la Cazine is situated within the heart of the French Lake District of Limousin. The Chateau has undergone a massive refurbishment and is opening in April 2012.
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Price: £28,171
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Type: House
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In a hamlet at 5 minutes from Lamalou les Bains, stone house to renovate with possibility to make 90 m2 of living space on a plot of about 100 m2.
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Price: £28,332
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Type: Apartment
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Flat leisure land of 20.135 m2 located 500 m of a village with alla amenities. No water or connexion to electricity. Ideal for gardening or leisure for the WE. Land with an L shape along a country road with an easy access. Lovely views.
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Price: £30,586
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Type: House
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Bedrooms: 1
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This town house is ideally situated in a quiet residential street, only 2 minutes walk from the town centre. The dwelling of -47 m2 h.s.a., comprises 1 bedroom, bathroom, living room with kitchenette, storeroom and shower room.
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Price: £32,187
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Type: House
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Village house to renovate completely (roof, floors) with 90 m2 inside space and small terrace of around 6 m2 in front of the first floor entrance, located in an authentic village surrounded by lovely nature.
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Prices from: €232,000 Bedrooms: 2, 3 & 4 Apartments & townhouses on Severiano Ballesteros designed Pont Royal Golf Course between Aix-en-Provence & Avignon.
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Prices from: €156,000 Bedrooms: 1, 2, 3, 4 Cohennoz: Great year round location. Mountain lifestyle, easy access to one of the best Alpine skiing areas.
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Price: €795,000 3 Beds. 1 bath, 1 shower Exquisitely restored. 13 ha of private grounds. Sweeping lawns edged by woodland. Children’s play area, heated pool.
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