France property values will rise 'because of the Sarkozy effect'
Property prices in France could be set to rise once president-elect Nicolas Sarkozy takes over from the incumbent Jacques Chirac on Thursday, according to new reports.
Mr Sarkozy is charged with the task of overhauling the French economy, which has faltered in the last decade while other world economies have prospered.
While it is established that the new president will push for a liberalisation of the markets, he is also thought to be keen on transforming the property market to help provide a further boost to the economy - something could benefit property investors in France looking to generate returns.
One builder, Keith Manning, who is based near Bordeaux, told the Daily Express that the value of cheap and idyllic farmhouses - often bought with intentions to renovate - could start rising over the next few years.
"[Sarkozy] believes in a property-owning democracy and wants to see people making money out of bricks and mortar, just like they do in Britain," he commented.
Mr Sarkozy has previously worked as finance minister under prime ministers Jean-Pierre Raffarin and Dominique de Villepin. The current president, Jacques Chirac, backed Sarkozy over the left-wing Segolene Royal to succeed him.
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