France - 500,000 new properties a year just to satisfy local demand

France is seeing a sustained growth in its property market and this is partly due to local demand, with up to 500,000 properties needing to be built each year for the next 10 years just to satisfy this demand. However this does not cater for the continued overseas investments and many areas are experiencing ‘mini growth markets’ particularly as French property prices have been traditionally lower than that of other mainstream European countries.

Anthony Fernandes, Director of SPC Overseas says, “France has always been an attractive market for many from the UK. Traditionally, France has been seen as good value for money and UK holiday home buyers have been able to realise superb properties and grounds at a fraction of what the near equivalent would cost in the UK. However, therein lied the problem, it was only attractive to holiday home buyers looking for a certain quality of life. With the major shortage of new properties and the ongoing construction programmes to cater for this, coupled with a new President, the market is now ripe for investors. The next 10 years will see France play catch up to other European markets and investors can expect to see tremendous returns. However a shrewd investor will look for what has been labelled ‘mini growth markets’. These are areas where demand from both locals and overseas investors is high and one example which fits into this category is Brittany which is showing all the signs of being a superb area to invest in.”

Brittany is ideally placed, being so close to the South East of England, a factor which has been instrumental in attracting holidaymakers for years.

SPC Overseas now brings to the market, ‘Le Parc des Dryades’ a classic buy to let opportunity in Gestel, in Brittany, just 10 minutes from the nearest beach. Gestel is a mix of town, countryside and traditional village. There are superb facilities all within walking distance and Lorient is just 15 minutes away. This gated development is divided into three buildings with each building comprising of one and two bedroom apartments. Each apartment benefits from a terrace or balcony, car parking and cellar for additional storage. With spacious accommodation and landscaped grounds, this is an ideal opportunity to get onto the French property ladder.

Anthony continues, “It is important that we offer investors the ‘full package’ so over the years we have built many relationships in France to further enhance our services to investors. In Gestel we work closely with a rental agency and currently achieve 98% occupancy. One bedroom properties at Le Parc des Dryades are expected to achieve £260 rental per month, but remember we are only at the start of what promises to be one of the most rewarding decades ever for France.”

One bedroom apartments at Le Parc des Dryades start from just £66,311.

SPC Overseas are experts in the overseas property market who offer investors and holiday home buyers alike, an extraordinary personal service in locating the property that will best suit their personal needs.

For further information, visit spc-overseas.com.