The time it takes to buy a property in France is dropping. for main residences it now take an average of four months to complete the purchase, compared to seven months in 2014.
According to a study by Credit Foncier, the transaction speed has been helped by mortgage rates at just-above historical lows and soft property prices across the country.
As was the case last year, the majority of buyers (63%) have negotiated a lower price purchase of 7% on average. The age group which were the best negotiators. The best negotiators are between 41 and 50 years of age and are earning at least 4000 euros per month, added the report.
However, to make their move happen, four out of ten respondents were forced to make concessions on their original requirements. Although this is still a significant number it is much lower than 2014’s figure of 61%. Just over a third (39%) bought property which was smaller than their initial expectations and 36% agreed to leave their ideal locations. Almost a quarter (23%) of households had to go beyond their initial budget (29% last year), drawing on their savings (34%) or increasing the monthly payments on their mortgage (33%).