Saturday, March 26, 2011

Good news for Owners of French Real Estate

The Fédération National de l'immobilier, the French estate agents' body, says average prices of all homes in France rose 6% in 2010 and property purchases exceeded 700,000 – a 15% rise on 2009. "Prices, after having fallen quite significantly – approximately 10% if we look at the end of 2009 – have regained a certain strength," says FNAIM president René Pallincourt.

The average price of a home in Burgundy is now €148,400 (£129,000), while in Languedoc the figure is €208,800 (£182,000) rising to €384,200 (£334,000) in Provence. The federation and lenders, such as Credit Agricole, predict rises of about 3% this year, with larger increases in cities.

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