Global Property Guide

Financial Information for Residential Property Buyers

France draws more British expats flocking to idyllic retirement enclavesOne in seven British citizens living overseas said they would stay abroad for “the favourable cost of living” according to a new report conducted by the Home Office with the majority of British emigrants “making a lifestyle choice” rather than moving primarily for work.

Amid this steady flow of Brits buying abroad, France tops the list of destinations for home buyers looking to snap up a foreign property. Indeed the latest HiFX Property Hotspots report revealed that 23% of potential property buyers are looking to own a home across the French channel.
 
“France remains a safe bet for Brits. It goes without saying that the sun and lifestyle are a big pull but buyers can now get better value for their money and take advantage of the weakening Euro,” Mark Bodega, director at HiFX says.

Mr. Danny Silver, an international real estate expert, explains that “French buyers are now taking advantage of the current Eurozone crisis with the largest percentage per capita of holiday home owners in the world.

A recent report has shown that 84% of French citizens spend their holidays within the country - there must be a good reason for that!"

France has won numerous accolades as a retirement destination, consistently featuring in top ten lists from publications across the world. In 2009, it was one of Forbes' top ten retirement havens.

This view is also shared across Europe; in May 2011, British newspaper, The Daily Telegraph, voted France into its own top ten lists of overseas retirement destinations.

“Southern regions of France have long been considered a great retirement destination for foreigners. Its mild climate and picturesque, idyllic villages along with cheaper living costs are often cited as common reasons UK citizens choose to reside there,” adds Mr. Silver.