The French finally turn to property investment over pensions

According to a study on housing in France commissioned by the Savings Bank, Caisses d'Epargne, more and more French see home ownership as the key to ensuring a better quality of life in retirement.

The study claims that 80% of French consider property to be an ideal investment. This statistic in itself is not news. Home ownership is France is high. It's the motivation to own property that has evolved somewhat. These days, though, it's less about inheritance and more about investment.

Property investment is now thought by the French to provide shelter and security against the world's economic uncertainties. The study reveals that "in 2007 peoples' foremost priority was to own their own home". This is a stark change in attitude when compared to the results of the same study carried out in 2001 when home ownership came fourth.

Inheritance is no longer as important as the ability to stave off career and family risks. People are now more concerned about their quality of life in their old age and making life as comfortable as possibile for as long  as they can. The French, it would seem, have lost all faith in the state pension being able to adequately provide for their retirement.

The study concludes with a warning to people saying that "transforming property into a Holy Grail can have some perverse effects. It can itself be the cause of considerable stress, anxiety brought on by rising barriers to entry, creation of a new social order of 'the haves' and 'have-nots', and a fear of being left behind that feeds a sense of urgency to buy property in france".

Rubbish! Go for it! For years the British have put their money, most wisely, into bricks and mortar. Long gone are the good old days of the final salary pension.