Always a popular destination for British overseas property investors, property prices in France have been rising nationwide, but some areas are rising faster than others.
A study released this week by the French website Seloger showed how different French cities have fared this year with regard to property values.Bordeaux has always been a very popular attractive town, and is soon due to be connected to Paris by a new high-speed train link.
Bordeaux property in particular has risen by 7.1 per cent so far this year, making the Gironde region capital the stand out performer at the moment and now behind only Paris, Nice and Lyon for property prices.
Average property prices in Bordeaux now stand at €3,571 per square metre, noticeably higher than the €3,292 per square metre national average.
Over 80 per cent of cities and towns in France have seen prices rising, with Strasbourg and Toulouse also both showing healthy rises of 4 per cent this year.
Nice was not far behind with property up 3.9 per cent, while Montpellier saw property rise by 2.1 per cent. Lyon property values were also up, showing a rise of 1.9 per cent, and even Paris, the most expensive city by far, still rose by 1.2 per cent.
Not everywhere fared so well however, with some French cities such as Rennes, Grenoble and Besancon seeing decreases in property values by 3-5 per cent. So care must be taken by investors to purchase in the right areas of France.
Overall though the French property market looks robust, and property values are expected to continue rising in the future.
Michel Mouillart, economy professor at the University of Paris-Ouest and spokesperson of LPI-SeLoger, who carried out the study, said: ‘the rise has sped up since the beginning of the summer and the pressure on prices continues to increase.’
France is back on the map for investors looking to buy property overseas.