property abroad in france drops in price

Investors who are looking to purchase a property abroad could be able to benefit from house price reductions in France.

Statistics from real estate group FNAIM showed that between January and March this year, property values were nearly ten per cent down on the same period of 2008.

However, the figures also revealed that the rate of decline in house prices appears to be slowing down.

Values were one per cent down on those recorded between October and December 2008, during which time prices were 6.5 per cent lower than in the previous quarter.

FNAIM added that house prices for the year as a whole are likely to decline by at least five per cent, and possibly as much as ten per cent.

Meanwhile, overseas property buyers who are looking to purchase a home in France have been encouraged to look at the Pyrenees.

According to the Telegraph, the region is an oft-overlooked area that is a good alternative to the French Alps.

Written by Les Calvert

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