Investor Insight: The French Property Market Monday 23 July 2007 PDF Print After Rightmove plc acquired the majority stake in holidaylettings.co.uk, the overseas part of our business, RightmoveOverseas teamed up with the holiday lettings site to provide a comprehensive guide to the overseas property market. The South of France offers scorching summers and a cosmopolitan lifestyle, which appeal to both investors and holidaymakers alike. Its popularity as a second home location, combined with its compact geographical make-up, means that much of the coastal development is presented in the form of apartments, penthouses and studios, which account for 76% of holiday rental accommodation in the Alpes-Maritimes on holidaylettings.co.uk. Searches for properties in the South of France have increased on RightmoveOverseas with Languedoc-Roussillon emerging as a hotspot as investors and holidaymakers look for areas which represent a traditionally French way of life and offer easy access from the UK through airports such as Perpignan and Montpellier. France has that unique ability of appealing to a wide range of investors and holidaymakers. There is an array of transport means to reach France from the UK, each region has individual charm and so much of France seems to have retained its cultural and architectural heritage, which doubtless appeals to UK investors. Ross Elder, MD of holidaylettings.co.uk adds: “House prices are increasing in France, but as long as the investor purchases and furnishes a property to meet the demographic of the visitors to that location, there should be potential for attracting holidaymakers and achieving a return on investment.” Properties in Languedoc-Roussillon average at £175,539 on RightmoveOverseas. One bedroom apartments start from £63,543; two bedroom farmhouses from £67,902 and four bedroom cottages from £101,853. “Whether on a buying trip or holiday to the South of France, expect rental prices to reflect the popularity and status of the destination” adds Justin Figgins, Head of RightmoveOverseas. Prices in Cannes range from £160* per week for Lacour, a cosy one bedroom apartment a block back from The Croisette Beach; to £2,000* per week for La Graziella, a luxury two bedroom apartment near the Palais available to rent through holidaylettings.co.uk. RightmoveOverseas has received 251,804 French property searches this June alone, with the most popular region emerging as the South of France which received 43,595 searches; and popular provinces being Brittany, with 11% of the total searches, Normandy with 8% and Languedoc-Roussillon with 8%. Homeowners will be pleased to hear that France remains the second most popular destination for investors and holidaymakers after Spain. French properties on holidaylettings.co.uk are currently receiving 14% of all accommodation enquiries, matching the 14% share they have of the site. RightmoveOverseas lists over 9,290 properties for sale in France, with French properties making up 21% of overseas properties on the site and 25% of them listed as under £100,000. Holidaylettings.co.uk has 2,092 holiday homes available to rent in France, over 800 of which were added in January alone, an increase of 51% on the same period in 2006. Around 1,319 French properties have been added to RightmoveOverseas since January 2007. “The recent election of a new president and Sarkozy’s initiatives are good news for the French property market”, says Justin Figgins, Head of RightmoveOverseas. “This change will also be beneficial for British investors looking to buy into France. Sarkozy’s plans will not take effect until later in 2008, giving investors time to purchase French properties before the boom and watch the price of their properties quickly appreciate.” * Figures quoted are for off peak periods and are subject to change at the discretion of individual property owners. Lacour reference: http://www.holidaylettings.co.uk/22175 La Graziella reference: http://www.holidaylettings.co.uk/20301 - End - For further information, please contact: Maud Rousseau Head of PR Tel: 0207 314 9095 Email: Maud.Rousseau@Rightmove.co.uk Kate Stinchcombe PR Officer Tel: 01865 204738 Email: firstname.lastname@example.org Notes to editors: RightmoveOverseas is the UK’s leading overseas property website, advertising 44,000 properties in over 80 countries. RightmoveOverseas is a division of Rightmove.co.uk, the UK’s number one property website, advertising over 1 million properties from over 15,000 estate agents, letting agents and new home developers. It currently counts over 80 per cent of all UK estate agents among its clients, and at any one time displays a stock worth over £170 billion. www.holidaylettings.co.uk provides an effective means of online advertising for holiday homeowners and a user-friendly accommodation search tool for holidaymakers. Advertising more than 16,000 properties in 100 countries worldwide, the site attracts in excess of 40,000 unique visitors every day. This press release was distributed by ResponseSource Press Release Wire on behalf of Holiday Lettings in the following categories: Home & Garden, Travel, for more information visit http://pressreleasewire.responsesource.com/about.