UK overseas lender, Abbey National France, has found that despite an average purchase price of £330,000 in the Cote d’Azur UK borrowers are now buying more properties here than in any other region in France.
Demand from the UK has apparently fuelled a 66 per cent increase in house purchases in France last year, and the average purchase price has risen to £150,000, up £25,000 from the year before.
David Wells, managing director of Abbey National France, said: "Demand from UK buyers to live or work in France has never been greater and buyers are prepared to spend a litle more money on their second home than before. While owning a home abroad can be expensive on the Cote d’Azur, bargains can still be found across the country, showing that most people are able to realise their dreams of an overseas retreat if they shop around.
Average purchase prices in France are currently rising by a steady five per cent per annum, but demand from British home-buyers is boosted by the strength of the pound, the excellent value for money with French property and of course the French lifestyle."
