Posted on 28 July 2012
I remember having real doubts about whether Sterling would ever regain its value against the Euro, but of course, that was before the EU sovereign debt crisis went supernova.
At Sterling’s low point a French property worth 100,000 Euros could be purchased with £95,000, right now that same property could be purchased with just £78,250. So, now is a great time to buy French ski property.
But it doesn’t stop there; while property markets and economies around the world were crumbling and falling apart, the French economy and property market remained strong. As a result of strength in the French banking sector liquidity has remained high and French banks have continued to offer good mortgage deals, even to foreigners.
For example you can still get French mortgages at up tp 100% loan to value with payment durations of up to 30 years. The interest rates have been most impressive though, in fact they regularly hit the lowest in Europe. Currently French mortgage rates are about 2.9%.
Of course, most people buying ski property pay in cash wih no need for a mortgage, but it is nice to know that there are options there for anyone that does. Combining the weak Euro with the excellent mortgage rates and now is definitely the time to buy ski property in France.