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11-08-08 - The resale market: an increasingly diverse and active market

After the significant fall seen in late 2008 and in the first half of 2009, the sales volume for resale properties in France as a whole has risen steadily since and reached 806,000 between April 2010 and March 2011.

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Appointed by the State Minister of Justice, the civil law notary is responsible for the legality of official documents. He can enforce the deeds  he draws up and play the role of an arbitrator who, impartially, and under strict observance of the law, enables the parties to reach a mutually acceptable agreement.

Notaries' Real Estate Portal : The of... > Informations on buyers I

Informations on buyers I

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FRENCH PROPERTY : INFORMATIONS ON BUYERS


I. Increase in the number of non-residents







The French property market is becoming more international from year to year.

In 1997, non-residents accounted for more 20% of buyers in the sole département 1 of Alpes-Maritimes and between 5 and 10% in less than twenty or so other départements.

In 2007, the 20% threshold was cleared in Alpes-Maritimes, the Dordogne and the Creuse, that of 15% in the Gers and Charente, that of 10% in the Manche, the Deux-Sèvres, the Vienne, Corrèze, the Lot, the Lot-et-Garonne, the Tarn-et-Garonne, the Hautes-Pyrénées, the Pyrénées-Orientales, the Aude and the Haute-Savoie.

The Broad South West is by far the most favoured spot of foreigners, mainly the British, who form the main contingent of foreign buyers (close to 60%).

Certain tourist towns, with an international reputation, whose prices are among the highest in the country, are in the process of becoming the “exclusive preserve” of non-residents.

Here are a few most significant examples of said phenomenon :
- Regarding houses, foreigners accounted over the period studied (01/10/06 – 30/09/07) for 64% of buyers in VILLEFRANCHE-SUR-MER, 58% in CHAMONIX, 53% in GRIMAUD, 50% in THEOULE-SUR-MER, 46% in RAMATUELLE ;
- Regarding apartments, they accounted for 55% of buyers in VILLEFRANCHE-SUR-MER and GETS, 42% in BEAULIEU-SUR-MER, 37% in GRIMAUD, 33% in VAL D’ISERE.