This summer's unrelenting rain has been a factor in a surge of interest in overseas holiday homes. As many parts of the UK disappeared beneath the flood waters, investors and holidaymakers alike turned their attention to the other side of the Channel. A study by Holiday Lettings has identified the areas attracting most interest from investors, a growing number of whom fund their acquisition by letting the property out for at least part of the year.

In the 12 month period from June 2006 to June 2007, Holiday Lettings registered a huge increase in the number of properties being added to its online directory. Of all the country categories, only Spain saw a larger number of holiday homes being added than France. The prolonged damp weather in June and July is thought to be a key factor, spurring the search for a place in the sun. Those concerned about travel-related carbon emissions but unable to endure wet British climes have salved their green conscience by not going long-haul.

The South of France, thanks to a good air transport link with the UK, is an almost perfect destination virtually on the doorstep. The region offers reliably hot summers and there's hardly any question that it is a lot more chic than a waterlogged cottage in the Cotswolds. Buying a home here is a relatively low risk investment that appeals equally to property professionals and vacationers. An abundance of suitable second homes is another advantage enjoyed by a Southern region like Alpes-Maritime.

This area is currently a hot favourite. Here, apartments, penthouses and studios make up 76% of the accommodation available through Holiday Lettings.

Ross Elder, co-founder and now Managing Director of Holiday Lettings, believes this is a stable market: "House prices are increasing in France, but as long as the investor purchases and furnishes a property to meet the demographic of the visitors to that location, there should be potential for attracting holidaymakers and achieving a return on investment."

The overseas arm of property agent Rightmove, has one bedroom apartments on its books from just over £60,000. Over a quarter of a million searches for French property were carried out on the Right Move Overseas website during June. French properties comprise just over a fifth of the properties on the site, 25% of those listed for less than £100,000. Justin Figgins, the Head of Rightmove Overseas, cautions against bargain hunting if the property is bought as an investment, however. "Whether on a buying trip or holiday to the South of France, expect rental prices to reflect the popularity and status of the destination." To make substantial profits, first-timers need to do their homework.

And what about the prospect of floods in France? Not impossible, by any means. The good news is that anyone planning a move to France can now sign up for metnext.com - an early warning system for those involved in farming, tourism and other weather-dependent industries. The scheme highlights forthcoming weather risks, allowing you to manage risks and at least giving you time to look up "sandbags" in your French dictionary before the deluge...