Everything you need to know about: French Buyers

Where do the French buy?

French buyers can be seen to represent foreign buyers as a whole. They buy in all areas of the country but display a fondness for coastal regions such as Valencia and Alicante, and islands – particularly The Canaries.

Gerona, just over The Pyrenees border with France, is a particularly popular destination – perhaps due to its Mediterranean coast location and close proximity to home. It’s unsurprising then that Lloret de Mar on the Costa Brava was the fastest growing zone of French interest in 2017, attracting 38% more leads than the previous year.

What types of property do the French buy?

From Almeria to Cadiz, it doesn’t seem to matter where the French are buying, they like to make sure they have plenty of space. While other nationalities opt for apartments and townhouses, French buyers are more inclined to choose a generously proportioned villa. In fact, they’re almost 10% more likely to buy a villa than other international buyers.

This should help when you’re scanning your portfolio for properties that might be of interest.

How does the buying process differ?

As with all countries’ legal systems, the process of buying property will differ between France and Spain. This may cause French buyers an element of nervousness about the transaction. If you can learn a little about the differences your buyer can expect to see you will be able to help quell their anxieties and guide them through unscathed.

We’ve pulled out a few of the most notable differences:

• In both countries you will need to enlist a public notary to ensure that your property transaction is carried out legally and all necessary taxes are paid. In Spain your public notary will be separate to your real estate agent, whereas in France they may be one and the same.
• French buyers might expect that both parties choose their own notary, however in Spain both buying and selling parties must use the same notary. This is to help avoid conflicts of interest.
• When selling a property in France, sellers are expected to provide a number of professional surveys as part of the sales process. Surveys required will depend on the area of the country or the age of the property. But they might check for the presence of asbestos, termites or lead as well as the safety of gas installations, electric wiring and septic tanks. As there are many less requirements in Spain, it may be useful to reassure your French buyers that these differences in regulation will not affect their purchase.

Conclusion

By understanding a little about what French buyers are looking for as well as the process they might expect, we hope you’ll be able to deal with French nationals with confidence and provide them with exactly the support they require.