Sarkozy effect on French property market 'not yet clear'
It is too soon to say what effect the election of new French president Nicolas Sarkozy has had on the French property market, according to an overseas property expert.
Mr Sarkozy had promised to create a nation of property owners, leading some to speculate about potential tax cuts that could herald a new residential property investment boom in the country.
However, Simon Lambert, mortgages and homes expert for This is Money, wrote in a feature that claims surrounding potential tax cuts from Mr Sarkozy should be taken "with a pinch of salt", as how he intends to achieve his goal of a revitalised property market has not yet been established.
Instead, investors should focus on the properties to ensure they are getting the right asset their needs, rather than buying for purely speculative gains.
"Obviously, you will want to buy a property that will retain or increase its value, but your priorities will be different depending on which of the above is the primary reason for purchasing," remarked Mr Lambert.
He also noted that property buyers should take into account any extra costs, as well as the various features of the French property market.
A recent survey from the Bank of Scotland revealed that France is the most desirable European property investment destination for Britons.
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