Nicolas Sarkozy, the recently elected French President, is set to revolutionise the French property market as he takes a ‘Thatcherite’ approach to encouraging more home ownership. His first move is to propose the “selling off” of 40,000 “council” homes in an endeavour to kick start the market place. His second proposal is even more radical. He is suggesting tax breaks of around 5 billion euros to aid buyers and encourage them to take a far greater interest in home ownership. His approach appears to be to that mortgage interest payments on a family’s main residence, be offset against income tax.
France is an exceedingly popular country and attracts more overseas tourists than any other country. According to the CIA World Factbook, it also has the world’s third largest income from tourism. France is a huge country that is extremely diverse and offers a wide range of areas for property investment from its beautiful cities and alpine regions, to it’s lowlands and the many diverse coastal regions. Each has its own particular level of property price values. France is a safe place to invest. The infra structure is in situ, there are no major political problems, there is good economic growth and records show steady, year on year, property price and rental increases.
IMOINVEST International is a highly professional, well placed company which has been dealing with investments in France for over a decade. Working within the country they are able to offer advice and opinion based on a sound professional knowledge. Julien Lu, Regional Director for IMOINVEST says, “France has an endearing charm and a welcoming lifestyle. For the investor there are some very good ‘hot spots’ to be considered, particularly now that the President is looking to have a marked effect on the market. Those investing in 2007/8 could see substantial gains”
IMOINVEST International offers an extensive range of investment properties throughout France, many in superb locations with guaranteed rental incomes. Once such “good buy” currently being offered is just outside Cannes on the French Riviera. The 4* Residence de la Tour de Mare in Frejus.
Residence de la Tour de Mare in Frejus, just outside Cannes
The location is perfect; only 3 kms from the medieval city centre and 5 km from the sea. The area abounds with sporting facilities, sea activities, culture and history. This guaranteed buy to let leaseback residence offers heated swimming pool, sauna and fitness centre, all set within enclosed landscaped gardens. Many of the apartments offer either balcony or terrace. This is an opportunity to secure rental income for the life of the commercial lease and tenant occupancy, as it is serviced by one of France’s leading management companies.
There are three difference investment options, allowing for either a maximum rental income of 4.3% paid net with no personal use, a 4% rental income paid net with 1 week of owner usage, or maximum vacation use under the Quasi Hotel Investment scheme allowing for up to 6 months per year with a reduced rental income (approximately 2.5% paid net). Prices at Residence de la Tour de Mare start from £62,325 (92,000 euros)for a studio apartment rising to £152,437 (225,000 euros) and above for premier two bedroom apartments.
