France is overwhelmingly becoming the country of choice by most Brits for the purchase of overseas property.  This, according to Conti, the UK based overseas mortgage specialist, has a lot to do with the stability of the French mortgage market.  The UK mortgage market, by contrast, is currently dealing with a few stifling problems of its own.  New, stricter lending criteria has made it difficult for buyers without a significant down payment.  Also, consumer confidence regarding the housing market is still struggling.  These reasons alone have created a desire by some to look outside the country, for property-to-buy opportunities.

A rise from 14 per cent to 43 per cent in 2009 of mortgage enquire share is confirmation that France has become the hot spot for property purchasing outside the UK.  Spain at 24 per cent share, is in a distant second place.

Conti’s operations director, Claire Nessling, commented on how popular France has become as a possible location for property purchase, saying: “The percentage of people enquiring about French mortgages has more than tripled over the last two years, and it’s currently out on its own as far as popularity goes.”

The banks in France have taken a cautious approach to lending, therefore creating stability within the housing market.  As many other countries are experiencing historically low interest rates, France is seeing the same.  Combine that with reduced property prices, and you have a very appealing place for investors looking for a good deal.

France has seen growth of 1.7 per cent within the housing market from last year to the same time this year.