BRITONS URGED TO LOOK ACROSS THE CHANNEL
Thursday, 03 Apr 2008
British investors who find the domestic market is not generating sufficient returns have been advised to look across the English Channel.
Homes Worldwide stated that house prices in the UK are falling, while mortgage rates are continuing to go up.
This has prompted the website to suggest that investors who are disillusioned with the British housing market should consider possible opportunities in France.
According to the online portal, property values in France went up by four per cent last year, which means investors could possibly collect the proceeds of capital growth.
Homes Worldwide said this shows that that the country is weathering the economic storm created by the current worldwide banking crisis.
The website commented: "The market does not seem to have been affected by the so-called credit crunch that has unsettled the US and UK markets."
Investors were also told that property prices in France tend to be about a third cheaper than those in the UK.
According to Amanda Lamb, presenter of Channel 4's A Place in the Sun, British nationals now own real estate in more than 50 different countries.
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