French property market 'ideal for long-term growth investments'
France has been named as an ideal destination for long-term property investment, characterised by steadily increasing values and improving growth, according to a property expert.
Market economist Jean-Luc Broulliet, who is also managing director of a bank, cited figures showing that 7.9% of property in France has been bought using foreign money, with external property investment growing by 3.5% last year alone.
Quoted by Pascal Molliere for freelance news organisation Functionpix, Mr Broulliet noted that this appears to be increasing at a rate of 3% per month - meaning that on a year-on-year basis, growth in foreign investment into property has recently reached almost 11%.
"France is the new destination for long-term European growth," he remarked.
The claim appears to be backed up other experts, such as economist Sonia Pangusion from Global Insight consultancy.
Last month, she revealed that the country's economic expansion should "remain broadly on track in 2007", with the housing market in a "dynamic" state thanks to a favourable environment for credit.
Furthermore, it is "unlikely" that a housing crash will occur in 2007, despite the falling number of new homes being built in France.
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