Eurostar commuters fuelling French property market

The improved Eurostar service, launching later this month, has already fuelled increased interest in buying properties in France, reports HiFX. In its latest global property hotspots the currency specialists reveal interest in France has increased and attributes this to the growingnumbers of international commuters. The promise of fast links back to the UK is enabling workers to consider properties in France as a permanent base than just a holiday destination.

According to the number of enquiries received by HiFX, interest in France increased by 17% between August and September. Interest in Portugal and Cyprus also increased whilst Spain maintained its position as second the most popular overseas property destination after France - accounting for 25% of enquiries in September.

The improved Eurostar service will make euro-commuting 20 minutes faster to and from Paris and Lille and the prospect of living in France, but working in the UK, a reality.

Mark Bodega, Director at HiFX who help over 30,000 people buy property abroad each year explains: “France has always been a popular holiday home destination for Brits who enjoy the more relaxed French way of life. However, it is now increasingly feasible for buyers to have the best of both worlds, living permanently in what was a holiday home and commuting back to the UK when necessary.”

Peter Wheelton from VEF Pas de Calais, French property experts adds: “We’ve noticed a particular rise in the number of people who perhaps spend two or three days a week working in the UK and the rest of the time living in their permanent homes in France. Property prices in France are around 30% lower than those in the UK and those in the Pas de Calais region are typically a third less than in the rest of France. Also Calais and its surrounding area is almost equidistant from London, Paris and Brussels, which makes it an attractive destination for the international commuter.

According to the think tank Future Forum, there will be more than 1.5 million people working in the UK while living in another country within a decade. Also 20% of people moving to France permanently are planning to commute back to Britain for work.”

An Easier Commute

Compared to travelling in the UK, it is easy to see why cross-border commuting is increasing. A train from London to Manchester can cost over two hundred pounds and takes three hours. In comparison, les Frontaliers, as international commuters are known as in France, can travel from London to Paris in two hours and fifteen minutes for less than £90 return.

Anyone living or working overseas needs to consider the best way to regularly transfer money such as salaries, mortgage payments or rental income and protect themselves against currency fluctuation. HiFX offers a regular payment plan to protect people against currency fluctuations, by fixing exchange rates for between six and twenty four months. This ensures the same amount is debited or paid in each month and because everything is fully automated via a direct debit, customers have no need to speak to their bank each month.