The recent election of socialist Francois Hollande as the new President in France is unlikely to have much of an impact on the country’s property market, according to Matt Frost.

‘We believe that this change in presidency will have no great effect on the French property market. House prices rose by about 4.3% during 2011 according to INSEE (the National Institute of Statistical and Economic Studies) and when coupled with low interest rates and more favourable exchange rates – France is still a desirable and logical place to buy a property’

Matt remarks that ‘France remains one of the most popular places in which to buy a second home for UK residents and other Europeans. Its important to remember that Hollande’s main objectives are to tax the rich and end austerity, this could mean a rush of wealthy French looking to buy property in the UK, however, it is not thought that there will be any major effects on the domestic property market.’

‘The most important element driving property sales in France at the moment is the favourable exchange rates. 12 month ago the rates were around €1.10 to the pound, but we’re now nearing the €1.25 mark. To the buyer, this is a huge difference from 12 months ago and makes the mortgage process a lot easier’

In conclusion – France will continue to be one of the most visited countries in Europe and is regularily voted and one of the best places to live in by various on-line and travel publications.