The number of people seeking to buy properties in France has risen during the last two months, with the number of new enquiries for mortgages more than doubling during May as compared to April. Many UK investors are especially attracted to France currently due to the current weakness of the Euro, as well as the competitive mortgage rates and the willingness of French banks to offer them to  foreign investors, industry experts stated.

Athena Mortgages, a French mortgages specialist, stated that it had witnessed a dramatic increase in the number of enquiries made by investors from the UK seeking to purchase French properties, with May being the company’s busiest month for new enquiries. In fact, May turned out to be the busiest such month for Athena Mortgages compared to any month in the last year.  The start of 2010 saw increased interest being generated by UK buyers, with new enquiries from British buyers seeking to purchase properties in France rising by 72% during the first quarter of this year as compared to the final quarter of last year, according to Athena.

The opening quarter of 2010 also witnessed the highest volume of UK investor enquiries of any quarter since the final three months in 2007.

Due to the fact that property prices in France have recovered during the past year, investors are regaining their confidence with regards to coming back into the market. It appears that the new-build market is especially strong at present. For instance, prices in Paris and Marseille respectively have risen by 8% and 11% as compared to the same period in 2009.

The increase market confidence has also been reflected in the volume of enquiries received by Athena that developed all the way through to a firm mortgage offer in February and March of this year, engendering strong overseas interest in the local market.

John Busby, director of Athena Mortgages, is upbeat about the prospects for foreign investors in France.