Expatriates buying homes in France
With over 42,000 sales, non-residents and overseas buyers accounted for 4.6% of the market in 2011, Portuguese being the lead buyers in Ile-de-France.
On average, these particular buyers purchased properties that were more expensive than the French: 265,059 Euros against 205,000 Euros. In addition, the average investment rose by 12% when property prices in France increased by only 7%.
However, it is far from the amounts spent by the new Russian oligarchs or rich Americans and Chinese who buy luxurious apartments overlooking the Eiffel Tower. In fact, 60% of non-residents buy French Properties in the province (outside of Paris).
Speaking about nationalities, it was the French expatriates that formed the largest population of buyers: 14%. “The development of the Internet makes selecting properties easier, moreover, French citizens living abroad (1.6 million, Ed) are becoming more numerous each year.”
Côte d’Azur
One nationality ahead of the British is the Portuguese emigrants. They constitute the greatest numbers of foreign buyers in Ile-de-France, where too they often live. The English retain the lead in Aquitaine, Brittany and Normandy. As for the Italians, they are leading the race in the PACA region (Provence-Alpes-Côte d’Azur), adjacent to their country.
The rankings of preferred regions for foreign investors is constantly evolving. The Paris Ile-de-France, where we have stunning properties, is their preferred destination (37% of transactions) in front of Cote d’Azur, where most of them enjoy a cozy way of living (14%) and French Alps, mostly known for its nice properties in ski resorts (11%).