Well there are ?N? no. reason for UK citizens to invest in french property. As the economic situation is getting favorable week by week it is right time to invest. France provides a stable political climate, a beneficial market to invest, round the year tourist locations and huge returns on investment in both resale and rental properties. Moreover UK and France share the double tax treaty which allows the person to pay tax only once on his earnings. Some of the favorable reasons for are ?The Property prices in France are relatively low when compared to most European Countries. ?France has a big requirement for good rental apartments/houses on a long term basis. The percentage of people who rent property as opposed to those who purchase property is much higher in France than in UK. Thus the long term residential property price growth in France is approximately 10 percent per annum with a respectable net rental yield summing up to 8-10% of the investment. ?France rely more on its residents on investment in property (95%) who constantly purchase holiday or permanent accommodation. Thus France has a rigorous buying going on, a protective legal system and a wonderful ?France is providing 100% finance for foreigners with mortgage rates about 4% and low Euro interest rates. Government backed ?leaseback? Investment property with guaranteed yields up to 5.5% and full VAT refund of 19.6%. French Law allows all costs including mortgages to be settled against rental income which reduces the amount of actual tax paying. ?The Capital gains tax on housing rentals has been halved to 16% and can be exempted if the bearer holds the property for more than 15 yrs. ?It is the most visited tourist location in World with constantly emerging tourist market demanding fresh supply of new tourist accommodations. ? is provides opportunity to enjoy the cosmopolitan atmosphere, culture, lifestyle, french food and wine etc. in holidays and earning rent from the property rest of the time.
Thus France is a land for investment in Property these days especially for the UK citizens.
For those who want to buy investment properties or buy to ?Let In? in France visit http://www.amr4france.co.uk/
Author Bio:
Derek Grimshaw has 35 years of Experience in UK Property as a chartered surveyor, mainly based in London. He set up the a french property agency in July 2000. The Agency has a rapidly expanding web site currently standing at some 450 properties offering prospective purchasers a wide range of choice.
If you are thinking of purchasing a property in France then right now is the best time to do it. There are deals galore at the moment with vendors in certain parts of France accepting offers of 10% and sometimes 15% below asking price meaning there are literally tens of thousands of pounds to be saved by buying now while your bargaining power is at its strongest.
This shift in the market can be seen all over France from Poitou Charentes right through to some areas of the Cote d'Azur and is especially evident for character village and countryside homes which are the least in demand from the local French population and therefore seeing the biggest price reductions. British and Irish buyers who are traditionally looking for this type of property are wasting no time in taking advantage of this lull in the market before prices kick on once again as they have done in the previous five years. Other highly sought after areas such as the popular ski resorts, commercial towns or tourist hotspots are seeing far smaller price reductions from vendors as demand is still high and will always attract buyers.
The reason for this quiet market in France right now is not easy to boil down to just one variable but two in particular are likely to have had an effect: Euro interest rates and large price increase over the last five years. The Euro base rate of interest is now at 3% after last month's increase bringing most mortgage interest rates to a little over 4% p.a. which has taken the pace off the demand. French buyers are now more cautious and wary of another increase in interest rates wandering if there is more of a correction in the market to come after the boom in property prices in previous years.
New Build/off plan property is performing far better and developers are having no trouble at all selling their units and indeed are struggling to keep up with demand for French residents and foreigners alike. Unlike other countries such as Spain new developments are not as frequent in France yet demand by French citizens for new homes which has historically been far greater than for old homes sees no sign of changing. This limited supply and excess demand therefore keeps the new build market strong in France even in times when market conditions are not at their strongest.
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