US buyers on the rise in France’s top second home destinations
Whether Paris, Provence, the French Riviera or South West France our teams are reporting a notable uptick in US enquiries.
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Analysis of Knight Frank’s website shows property searches for French property by US-based buyers increased 37% in the first five months of 2022 compared to the same period a year earlier.
There are three motivating factors: the currency play, a strong accumulation of US household wealth during the pandemic and two years of closed borders.
With the Fed tightening monetary policy more aggressively than the Eurozone to combat above-target inflation the dollar is appreciating against the euro. In June 2022, it stands at 1.05 but Capital Economics forecast the two will reach parity by the end of the year.
The recent move by Delta Airlines to introduce new daily flights from Nice Airport to New York JFK suggests demand is set to strengthen further.