FRENCH 'PROPERTY SLOWDOWN' DISMISSED
Thursday, 06 Mar 2008
An expert has dismissed worries over a downturn in the French housing market after figures revealed that house price inflation fell last year.
Georgina Caldwell, deputy editor of French Property News, told the Independent that the market was simply levelling off as a result of supply and demand evening out.
She said she was "hesitant" to describe the figures from the Royal Institute of Chartered Surveyors as a sign of a slowdown and instead said they showed a "steadying of the market".
Ms Caldwell commented: "Prices were low thanks to over-supply and the fact that the locals were largely uninterested in the old, dilapidated stone housing stock."
However, she stated that this has now changed, which means that people should not be concerned over the latest figures, which show that house price inflation in France dropped to three per cent last year.
According to A Place in the Sun magazine, France is currently the second most popular foreign investment market among British buyers.
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