Looking to buy property in France? The time is now

If you've always been keen on the idea of buying a property in France, now may just be the perfect time to take the plunge. Your pound will go further now than it has done for a long time, and you’ll get more property for your money.

The recent strength of sterling coincides with an improvement in the UK economy’s performance, and as such, expats looking to buy in France are able to get a better property than they would have done, say, just a year ago.

House prices in France have remained fairly stable, having risen by just 0.9% in the last five years according to recent figures. Factor in inflation, and the cost of buying in France has actually reduced. Add to that the attractive exchange rates you can now achieve, and the notion of going ahead and snapping up a property across the Channel no longer seems so far fetched.

Let’s take a look at the exchange rates, and see how much money you can save compared to a year ago. Comparing exchange rates now to a year ago, at the end of January last year, the GBPEUR exchange rate was at 1.1733, whereas now, it sits at 1.2044. Back then, £200,000 would have bought you €234,660, but now, that same amount is worth €240,880 - a difference of over €6,000. Furthermore, at no point in the last year has the GBPEUR rate been higher. In fact, over the course of the last year it’s twice been down as low as 1.15 (March and August), further highlighting how far your money goes now. Transferring £200,000 when the rate was at that level, you’d have got €230,000 – that’s nearly €11,000 less than you’d get now. That could make all the difference when it comes to determining whether you can afford the house of your dreams.

For US expats looking to buy in France, it isn't such good news, with the exchange rate actually down on this time last year. Back then, $200,000 would have got you €151,460, whereas now, that same amount gets you €145,060. With this in mind, World First can help you protect your funds by fixing an exchange rate in advance for a future transfer. Then, should the market go against you, you won’t lose out, having already agreed an exchange rate. This is also helpful when budgeting, as you’ll always know what you’ll pay.

If you’re a UK or US expat looking to buy in France, and the idea of transferring money sounds really complicated, World First will make sure the process of making payments is as easy as it possibly can be. If you want to make regular transfers to pay for the mortgage or property maintenance, you can set up an automatic transfer so you don’t have to lift a finger when it comes to making a payment. Plus, if there’s a particular rate you were hoping to achieve, you can sign up to rate alerts that let you know the moment that rate is available.

There’s never been a better time to buy in France, so why not put the wheels in motion now?