New enquiries from UK investors looking to buy French properties has more than doubled in May 2010, compared to the previous month, according to Athena Mortgages.

May 2010 was also the busiest month in the last twelve for new enquiries according to Athena, as they increased overall in Q1 2010 by +71% over Q4 2009 which was also the busiest quarter in over two years.

John Busby, director, Athena Mortgages, said: “Since the beginning of this year, we have certainly noticed a change in the mindset of UK buyers, and in particular the last two months we have taken a lot of calls from prospective buyers who are serious about investing in France.

“There is definitely a feeling that this is a pretty good time to buy in France, with the value of the Euro plummeting in the last couple of months, the European Central Bank rate likely to remain low for some time yet, and the relative stability of the French property market. There are also more competition mortgage products coming onto the market, as French banks look to attract foreign investors.

“Also, with concerns over the UK Government’s proposal to hike Capital Gains Tax on second homes, we are predicting that more UK investors, who are planning to realize their gains in the domestic buy-to-let market, will turn to the French property market as an attractive and safe long term investment option.”

Property prices in France have rebounded over the past 12 months as foreign investors appear more confident about re-entering the market, with in particular the new build market performing strongly. Prices in Paris and Marseille are up by +8% and +11% respectively, compared to the same time last year.