AU COURANT


Keeping you up to date with the French property market, news, travel and events


PROPERTY WATCH: THE RETURN OF NON-RESIDENT BUYERS


A


recent Notaires de France report marks the return of overseas buyers to


the French property market, accounting for 1.8% of all transactions for existing homes in France in 2022. In Paris, the proportion of non-resident foreign buyers reached its highest level for 10 years, at 3.4% ( up 1.2% over one year). While the average price


spent by foreign buyers fell slightly from 2017 to 2020, it rose by 9% in 2021 and 13% in 2022 (compared with 5% and 2% respectively for French residents). In the provinces, non-residents spend an average of 13% more on property than French residents. Since 2021, Belgians have


represented the largest group of non-resident buyers, representing 19% of property purchases in 2022. The number of British buyers, which has dropped steadily since 2016, fell below the 20% threshold for the first time to 17% in 2022. Meanwhile, the proportion of ‘expatriate’ buyers (i.e.


On the market


CYBER ATTACKS ON THE RISE The frequency and scope of cyber attacks has been growing at such an alarming rate that the French government has issued a formal warning against false bank advisors, a growing trend in recent months. The record level of


data breaches involving ransomware attacks mean that fake bank advisors can get access to your personal information to the point that they could trick you into approving a transaction, believing you are dealing with your actual bank. The government


The Côte d’Azur is popular with buyers from around the world


French nationals not living in France at the time of the purchase) is at its highest level ever, accounting for 1.5% of property transactions. In the Île-de-France (Paris) region, this number rises further to 4.2% in 2022 (compared with 1.4% in 2019). The department with the


highest number of sales to non-resident foreign buyers in 2022 was Creuse (8%), followed


by Alpes-Maritimes (7%), Ardennes (7%), Dordogne (6%), Nièvre (6%), Charente (6%) and Haute-Savoie (6%). Charente is one of the


departments where the British are most represented – which in 2022 was 59%. Americans are taking a larger share of the market than before, reaching 6% in Charente in 2022 and 7% in the Alpes-Maritimes (compared with 1% in 2012).


FIND YOUR HOME IN FRANCE ON FRANCEPROPERTYSHOP.COM & FRENCHENTREE.COM


emphasises the importance of remaining vigilant and keeping up to date with potential scams. Phishing via email or text message is the most common approach, but fake advisors are getting more and more sophisticated and are widening their targets, so nobody is really safe from their claws.


Information for victims is available on cybermalveillance.gouv.fr with guidance on how to report a suspected scam or what steps to take if you were affected


€185,000, Creuse: Four- bedroom stone character property in St-Silvain-Bas-le-Roc with large garden, vaulted cellar and château views


€169,000, Charente: Three- bedroom house set within shared grounds with a swimming pool, close to thriving villages; for sale fully furnished


10 FRENCH PROPERTY NEWS: May/June 2024


€290,000, Paris: Top/fourth- floor 24m2


studio within an


elegant 1830s building with charming communal areas; comes with a cellar for storage


Beware of fake bank advisors


©SHUTTERSTOCK


©PIX4FREE


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