Your French Property offers a fully comprehensive service free of charge
Your French Property are specialist providers of French property to the overseas market. Whether you are seeking a leaseback investment, a holiday home or a permanent place of residence in France we can help. Due to our long standing relationships within the French property industry, we are able to cherry pick the best properties as they come on the market and represent the major developers and estate agents in France. Our dedicated team of bilingual staff are on call to help you locate the perfect property and to assist throughout your purchase, simplifying the process and helping you free of charge.
News
Irish Revenue probes accounts linked to overseas property Monday 17th March 2008
16 March 2008 By Ian Kehoe
The Revenue Commissioners have obtained the names of thousands of Irish citizens holding overseas bank accounts, as part of a major investigation into overseas property investments.
The tax authority is also examining foreign tax returns filed by Irish residents in an effort to determine if any undeclared money has been used to buy overseas property.
The Revenue has identified France and Spain as the most popular destinations for Irish investors, and is working closely with tax officials in both jurisdictions.
The tax returns were advanced to the Revenue under exchange of information agreements with its European counterparts. The Revenue has also been provided with a list of names of Irish citizens who have earned deposit interest on overseas bank accounts across the EU.
To read the full article please click on the link below:
Full Article on Sunday Business Post
Moving can be murder... Sunday 16th March 2008
As Jessica continues her house-hunting in France, here’s a warning on sitting tenants
Jessica Bown: Living the dream
From the Sunday Times
APPARENTLY I am not the only Briton to decide that living overseas is the way forward.
Since the emergence of the sub-prime crisis last year, interest in property investment abroad has increased by 96%, according to internet search engine Google.
Many of those fleeing Britain for warmer climes are retirees keen to make the most of their new-found freedom.
A poll from Hotproperty.co.uk found that almost half of us would prefer to spend our later years abroad rather than move to a retirement spot in the UK.
But whether or not they are retiring, overseas buyers should not forget that there will be variations between the laws and processes involved in Britain and wherever you are looking.
France, for example, seems pretty similar to Britain, but there are still quirky differences that it is essential to understand.
One thing it is vital to be sure of, when buying in France, is that the property has a clean title.
If someone dies intestate, their property is split between their spouse and any children. So if the title deeds are not spotless, a claim could potentially be made generations later.
Those hoping to make a quick profit on an investment property should also be aware of “plus value”. This is the property law stating that, if you sell a property that has increased in value within five years, you can still be forced to sell it for the price at which you bought it.
How crazy does that sound to a Briton who has cashed in on the property boom?
The reasoning behind it is interesting, though. The French think that someone who is selling a property for significantly more than they bought it for just a few years ago ? and without making improvements ? must have basically screwed the former owner.
Its aim is to prevent the weak or the elderly from being tricked or coerced into selling at an unfair price, which is a rather nice sentiment when you think about it.
If you don’t know your French property laws, however, a little old lady could end up playing a trick on you if you buy her home “en viager”.
When I first started looking for flats in France, I found a beautiful three-bedroom place with land in a stunning location ? and within my price range.
When I remarked on its low price to a French friend, he laughed and told me that the current tenant ? an 83-year-old lady ? would live there until she died even if I bought it.
Once we had established that I wouldn’t have to live there, too, and look after her, I looked into the details and discovered that “en viager” buyers basically have to wait for the owner-occupier to die, and pay an annual rent until that time.
It’s like equity release, but privately funded. The initial price you pay is very low, but if the former owner lives for many years, you could end up paying over the odds.
You do have to wonder, however, whether there are any figures revealing peaks in sudden deaths among those older people who sell their homes this way.
I decided against it ? purchasing “en viager” that is, not murdering anyone ? because I wanted a place to live in pretty much immediately.
It could be a good plan for an investment buyer with an appetite for a bit of risk, though.
After all, if the owner dies within a few years of the purchase, you will get the property for a very good price ? and can then take advantage of the rental value.
If you do plan to rent a property in France, it is also worth remembering that, if you have a tenant over the age of 70, you cannot evict that person or raise the rent unless you can find an equally nice place for them to live at the same price.
The cyanide solution aside, both these laws show a kind of institutional consideration for older people. In fact, many aspects of daily life here demonstrate the greater respect with which the French treat their elders ? which may come as a welcome surprise to those who retire here.
Full Article on the Sunday Times
Latest Construction Photos for La Plagne Development Thursday 24th January 2008
Please click on the link
Construction Site La Plagne.doc
Updated Photos for Corsica Leaseback Development Wednesday 7th November 2007
Please click on the link below for the latest photos taken in October 07 from the leaseback development in Corsica, Les Marines de Bravone.
This development is now completely sold out.
Latest Photos from Nimes Leaseback Development Wednesday 7th November 2007
Please click on the link below to see the latest photos, taken in October 2007 for the leaseback development in Nimes.
Icade CEO says French property market 'sheltered' from US sub-prime risk Friday 10th August 2007
Forbes.com
10.08.2007
PARIS (Thomson Financial) - Serge Grzybowski, chief executive of property development group Icade, says the French property market is 'sheltered' from the US sub-prime crisis, thanks to the strict legal and financial framework governing mortgages in France.
'Floating-rate loans are often capped in France and banks don't lend more than 33 pct of an individual's disposable income,' he said in an interview with French daily Les Echos.
In contrast, US households tend to take out uncapped floating rate loans, and in some cases have borrowed over 40 pct of disposable income, leaving them particularly exposed to rises in interest rates.
Grzybowski also said French property groups have little exposure to foreign property markets 'or to the more speculative property markets', and above all maintain a prudent debt policy.
To read the rest of the article please click on the link below.
Moving abroad: Pensions, tax and savings Thursday 9th August 2007
James Salmon, Daily Mail
8 August 2007
Every year, hundreds of thousands of Britons pack their bags and go to live in sunnier climes. James Salmon explains how upping sticks permanently will affect your savings, pensions and tax.
CHECK YOUR STATUS
There are two crucial things to consider when you move abroad: residency and domicile. Generally, when you move to another country and become one of its residents, you'll be subject to its tax on your income, pensions and savings. Your domicile is where you are from: so if you live in Spain but were born here, you are resident in Spain but UK domiciled.
The tax situation is complicated, but the UK has what's known as double taxation treaties with most countries which ensure you can't be taxed on the same money in both countries. As a resident of your new country, you can still be subject to UK tax - for example, if you keep a property here and rent it out. But the double-taxation agreement ensures you won't pay tax on that income in the country where you now live. If you work abroad, you could pay a lower than normal tax rate - speak to your foreign employer.
How you become a resident of another country depends on its laws. If you move to France intending to live there, for example, you become a resident on arrival. It's harder to become an Australian resident, though you'll still pay Australian tax on any income you make Down Under. In Spain, you're resident if you live there for more than 183 days a year.
Many Britons who become resident abroad remain UKdomiciled - and where you are domiciled is crucial in inheritance tax planning. UK inheritance tax (IHT) will be payable on your worldwide assets if you are UK-domiciled. But if there's a double tax treaty, you'll get relief from IHT in one country for the IHT paid in the other.
To change your domicile, you'll have to lose all links with the UK: this means closing bank accounts and selling off other assets. And you will have to tell the taxman you are leaving by submitting a DOM1 form to your local tax office. You can download one at www.hmrc.gov.uk.
The French do not differentiate between residency and domicile. And once you become a French resident, the UK taxman has no claim on any of your worldwide assets apart from your UK property. You pay tax at French rates on all other worldwide assets.
To read the full article please click on the This is Money website link below.
French property: how to find hidden gems Wednesday 8th August 2007
Sharon Hill of Your French Property gives an expert run down of the French property market
Whilst increases in prices in the French property market have slowed, prices are still increasing, notably in the cities such as Lyon and Strasbourg, and in coastal areas where a real shortage of accommodation is apparent.
The market slowed off in the run up to the French presidential election, which is a normal occurrence, but has since picked up and the future looks promising due to the new president, Mr Sarkozy’s planned reforms. For those purchasing their main property of residence he has introduced a tax reduction of 20 per cent of the mortgage interest paid annually up to 1500 Euros per year per couple, or 750 Euros per year for a single person during the first five years after the purchase and of the mortgage. Inheritance tax has also changed, with the surviving spouse no longer paying inheritance tax. Mr Sarkozy wishes to encourage French residents to purchase property and to become a nation of home owners like the UK.
These reforms are expected to boost the French property market in the coming years as more and more people are encouraged to purchase property, which will also attract foreign investment. This coupled with French lenders improved flexibility and less rigid approach will allow more people to purchase a property. In 2005 the average age of people purchasing an apartment was 43.5 according to the French chamber of notaries. 18 per cent of our clients are aged between 30 and 35 and live in the South East, so it just shows that more and more young professionals are highly attracted to the property market despite the ups and downs we have seen over recent years.
With the famous “loi littoral” in France, developers are not allowed to build on the coastline and therefore developments on the beachfront are extremely rare and sought after. Despite a general slow down in the French market, coastal areas are continuing to see the highest increase in property prices, as buyers rush to secure property as a main place of residence or a holiday home, but also with the outside interest of foreign purchasers such as the Brits.
YFP are currently selling a beachfront development in the Atlantic resort of Mimizan Plage where prices rose by 12 per cent last year alone and are expected to continue to increase with the current trend in France for coastal properties, fiscal advantages and also the improvements of the resort itself. Prices start from 181,400 Euros. Bordeaux and Biarritz airports are both less than 90 minutes away and are serviced by Easyjet and Ryanair.
Loire Atlantique and Southern Brittany are also coastal hotspots, property prices rose by an average of 21 per cent in 2006 in the area surrounding La Baule. A lack of properties on sale in the Morbihan area means that prices are tending to rise rapidly as it is a sought after area. YFP are currently marketing properties for sale in a delightful seaside residence just 20 metres from the beach, located on the Presqu'île de Quiberon in Brittany. Prices start from 205,500 Euros.
France remains a popular destination for tourists from the UK and Ireland due to its proximity and flights with low cost airlines. We are seeing more and more requests for new build coastal properties as opposed to existing houses and renovation projects, as new build properties present a good solution for those looking for a holiday home due to the low maintenance and building guarantees offered.
France has everything a Brit could ever dream of, 45 per cent of our clients buy in France because of the fantastic lifestyle that it has to offer, not to mention the amazing climate compared to the UK’s unpredictable weather, particularly this year’s tragic monsoon summer. With Sarkosy’s changes, prices on the up and property bargains still to be had France is still a viable and stable option for Brits to look into for a long term investment.
Languedoc-Roussillon Confirmed French Property Hotspot Monday 30th July 2007
Survey proves that Languedoc-Roussillon region is area of choice for British relocators and property investors.
RightmoveOverseas teamed up with holidaylettings.co.uk the holiday lettings site to provide a comprehensive guide to the overseas property market revealing that the sunny southern region of Languedoc-Roussillon is in great demand both in terms of property purchase and holiday destination.
The South of France offers scorching summers and a cosmopolitan lifestyle, which appeal to both investors and holidaymakers alike. Its popularity as a second home location, combined with its compact geographical make-up, means that much of the coastal development is presented in the form of apartments, penthouses and studios, accounting for 76% of holiday rental accommodation in the Alpes-Maritimes on holidaylettings.co.uk.
Searches for properties in the South of France have increased on RightmoveOverseas with Languedoc-Roussillon emerging as a hotspot as investors and holidaymakers look for areas which represent a traditionally French way of life and offer easy access from the UK through airports such as Perpignan and Montpellier.
Properties in Languedoc-Roussillon average at £175,539 on RightmoveOverseas. One bedroom apartments start from £63,543; two bedroom farmhouses from £67,902 and four bedroom cottages from £101,853. "Whether on a buying trip or holiday to the South of France, expect rental prices to reflect the popularity and status of the destination," adds Justin Figgins, Head of RightmoveOverseas.
RightmoveOverseas has received 251,804 French property searches this June alone, with the most popular region emerging as the South of France which received 43,595 searches.
Homeowners will be pleased to hear that France remains the second most popular destination for investors and holidaymakers after Spain.
Mon, 30 Jul 2007 15:04:54 +0100
Written by: Chloe Anderson
Why Britons are moving abroad? Thursday 7th June 2007
Why Britons are moving abroad?
“… WILL THE LAST PERSON TO LEAVE BRITAIN PLEASE SWITCH OUT THE LIGHTS.”
(The Sun)
The Sun’s famous 1992 headline is still valid today in voicing the disillusionment that drives so many Britons to seek new lives abroad. Why do they go and where do they go? And what especially are the attractions of La Belle France?
Hard figures are difficult to obtain: the Office of National Statistics does not record destinations of emigrants, and the International Passenger Survey (the UK government’s attempt to measure immigration and emigration) has been discredited. However, a count of British passport holders abroad issued by the Foreign Office in 2006 indicated that the most popular destinations in Europe were France and Spain, and that half a million Britons live in the US while more than 600,000 live in Australia. (Daily Mail 03/11/06)
There is another side to this story. Although there is a large net outflow, estimates indicate that around half of all British emigrants eventually return home. Many younger families fail to make a success of new business enterprises, whilst older emigrants miss their children and grandchildren. They also fail to integrate into their new environments in mainland Europe because of language difficulties. In our tiny village in the Languedoc-Roussillon, for instance, any newcomer without reasonable French would feel isolated.
Figures available are mostly guestimates and it is hard to make sense of them. There are also significant discrepancies, especially concerning second home owners in France.
The Daily Mail (03/11/06) reported that the number of British citizens who emigrate each year has risen by more than a third since the mid-1990s.
In the years 2000 to 2005 1.1 million Britons left the country while fewer than 600,000 returned from abroad
Furthermore:
In the years 2000 to 2005 1.1 million Britons left the country while fewer than 600,000 returned from abroad - an overall loss of around half a million British citizens. Around 198,000 UK citizens emigrated in each of the years 2004 and 2005. This compares with just under 150,000 in 1997.
Turning now specifically to France:
According to The Guardian (27/01/07): “Barclays estimates that 50,000 British people buy property in France each year, often selling their home in England to buy ruins mortgage-free and painstakingly doing them up. In addition to the resident British, some half a million more own holidays homes there [surely an excessive estimate, see below].
French property fairs in Britain were once 65% geared towards holiday homes; now the balance has tipped in favour of people seeking a permanent move. The traditional British retired professionals such as ex-teachers, police officers and civil servants living down the sweep of the west of France and across to the Côte d'Azur and Alps are now being joined by couples in their 30s and 40s.”
The French census of 2004 revealed that there were 100,000 Britons living permanently in France - double the figure of five years earlier. And this does not include the estimated 50,000 people who have second homes across the Channel, where many spend more than half the year. (Daily Telegraph 02/04/07)
According to Simon Jenkins in the Sunday Times (22/04/07), 42,000 Britons emigrated to France in 2005, against the 30,000 French men and women who settled in the UK. Jenkins says there are 50,000 second home owners, whilst 7.3 million British holidaymakers choose France each year.
It seems that so many French are attracted to the UK because of its more favourable environment for entrepreneurs. It reportedly takes two days to set up a company in Britain against three months in France. Whatever the overall advantages of living in France, the country’s economy and bureaucracy are not among them. It remains to be seen whether Sarkozy will be able to carry out his proposed reforms.
To read the rest of the article on Expatrica.com please click on the link below:
Why Britons are moving abroad Article
Interesting Facts & Figures About Leaseback Residences in France Thursday 17th May 2007
Some interesting facts and figures about French leaseback residences.
In France, the network of leaseback developments (residences de tourisme) counts:
1 487 résidences de tourisme of which 57 % are classed under the star system which represents 120 737 properties of 513 120 beds. The Natioal Syndicate of Tourist Residences (SNRT) federates 55 % of the residences. The tourist residences are spread out as follows :
- 44 %, so 624 residences and 48 196 apartments are located on the coast and during the summer months of 2006 registered an increase in occupation with a rate of occupation of 71% as opposed to 70% in 2005.
- 465 mountain residences, with nearly 40 000 apartments (38 % of total tourist residences), were occupied at a rate of 78% during the 2006 season (4 months in the winter and 2 in the summer).
- There are 218 urban residences, representing 10% of the total. For the summer of 2006 they recorded a decrease in occupation of 74.5% against 80% in 2005. It must be noted that urban residences run all year round so do not just rely on summer occupation.
- 116 residences, representing 8% of the total or 9 420 apartments are located in the countryside and are occupied at a rate of 72.6%.
11 Million people, 26% of which are foreign, choose to holiday in leaseback residences each year. Half of all the foreigners come from Belgium, Germany, Great Britain and the Netherlands.
50% of all visitors come as families and 20% are friends taking their holidays together. 10% are retired/semi retired and 20% are business visitors.
The average stay is for 7.4 days.
Come and discuss your property requirements - Investment Property Exhibition, Dublin Wednesday 16th May 2007
Come and meet the YFP team and discuss your property requirements at the Investment Property Exhibition in Dublin, Citywest Hotel, Saggart, Dublin, May 25 - 27th.
Call us now on 0044 1793 610947 to make an appointment with one of our property sales consultants to discuss your property requirements.
We have a number of free tickets to give away for the event, if you would like to benefit from this offer please send us your address and the number of tickets you require (limited to 4 per household).
Investment Property Exhibition
Leaseback Apartments in Ivry Sur Seine near Paris Completed Thursday 10th May 2007
The popular leaseback development in Ivry Sur Seine (south of Paris) has now been delivered.
Please click on link below to see photos.
To find out more about similar opportunities please contact us.
Photos of Ivry Sur Seine Leaseback Development
YFP in the Press Friday 4th May 2007
French Magazine have featured our development in Callian in the latest issue of their magazine (June 07).
Photos of the leaseback development in Morillon Friday 4th May 2007
The first phase of the leaseback development we have in Morillon, in the French Alps is now completed. You can view photos by clicking on the link below.
Click here to see the Morillon development photos
Development Photos Released Wednesday 2nd May 2007
Progress photos of our leaseback development in Les Sables d'Olonne are now available.
Simply click on the link below to see them (requires Acrobat Reader as in PDF format).
This is a charming development comprising of 1, 2 and 2 bedroom duplexes situated just a short walk from the heart of Marina and the local shops and restaurants in Les Sables D’Olonne (Vendee).
Ideal for families, this development is offering two weeks personal occupation, one of which can be taken in the summer high season with a yield of 3.81%.
This development consists of 60 apartments of exceptional quality, as part of the central marina, overlooking the sea. Each apartment benefits from a private garden and/or terraces. There is a shared indoor private swimming pool and each of the apartments comes with private parking and a cellar.
Development Photos (Click to download)
Les Sables d'Olonne Development Details
New French mortgage products offers best ever deals Tuesday 1st May 2007
With interest rates in the U.K set to rise again it comes as welcome news that French Mortgages remain as competitive as ever, with some of the best deals on the European market available to U.K buyers. French Mortgage Direct has just released its latest mortgage products and there is nothing but good news for investors looking to buy properties in France.
100% mortgages (105% for leaseback properties) have been available for some time but did you know that now investors can make the most of the unbelievably low fixed rate offers for the entire duration of their mortgage, or that French Mortgage Direct are offering an 80% fixed rate interest only mortgage with no compulsory savings plan alongside the mortgage for both Buy-to-Let and Leaseback properties.
With no broker fees and extensive experience in French property financing, French Mortgage Direct is uniquely placed to offer crucial impartial advice. French Mortgage Direct also guarantees to turnaround all decision in principle forms within 2 working days and have quotes from the top lenders in France ready for your approval.
Either visit the website link below or complete an online decision in principle form on our website which will be forwarded to them.
http://www.frenchmortgagedirect.com
Avoid A 100% Penalty! Friday 27th April 2007
By Alison Hunt | 26 April 2007
If you're one of a number of people with offshore assets, such as a savings account in the Channel Islands or a holiday home in France, watch out -- the tax man has his eye on you!
Although there appears to be a widely held belief that you don't have to declare (and thus pay UK tax) on overseas income, this is in fact untrue. If you're a UK resident, any interest made or rent claimed from overseas property must be declared to the tax man and UK tax paid.
It's reckoned that one in five people are not declaring overseas interest, which according to accountants Grant Thornton could mean that the government is owed around £5bn in unpaid tax, interest and penalties (with £1.5bn from Barclays Bank's offshore accounts alone). Unsurprisingly, the thought of this much money is making the government rub its hands with glee, and plot a way to get it back!
Offshore Disclosure Initiative (Amnesty)
Fortunately, if you are one of the many that has kept quiet about overseas income, it's not all doom and gloom (you can put your passport down -- you don't have to run off to South America just yet). The government has announced an unprecedented amnesty -- declare what you owe within the next two months (until 22 June) and you'll be charged a reduced penalty of 10%, as opposed to the 100% normally charged, which must be paid (with the tax owing) by 26 November.
However, wait until after this date and you could be badly stung. Revenue and Customs officials are planning a crackdown on offshore assets, meaning you will be likely to face a full investigation and have to pay 100% of the tax owing, plus a fine equivalent to 100% of the outstanding amount. What's more, their investigations could stretch back as far as 20 years -- and you could face prosecution, too!
TO READ THE REST OF THE ARTICLE PLEASE CLICK ON THE LINK BELOW
Easy High-Speed Train Access To Eastern France Wednesday 25th April 2007
Opening in June, the TGV Est will link Gare de l'Est in Paris to 23 new stations in Eastern France, cutting journey times by half.
In June this year the brand new TGV Est Européan rail service take to the tracks, dramatically cutting journey times to Eastern France. Linking Paris Gare de l’Est with 23 new stations including Strasbourg, Reims and Nancy, the new line is set to put this often-overlooked area of France on the map, providing a viable – and greener – alternative to flying.
This improved access will boost the buy-to-let market as holiday-makers start to book their summer breaks. New record-breaking TGV trains reaching speeds of up to 320mph will be in place to give airlines a run for their money, with faster, reliable journey times, no check-in, slick interiors and reasonably priced fares. This will make it the ideal way to travel both for relaxed breaks and for property hunting holidays.
As a special introductory offer, tickets as low as £7.50 to Reims are on sale for a limited time only, so get booking! TGV Est officially opens to rail travellers on Sunday 10 June.
For more information visit www.raileurope.co.uk or call 08708 304862.
http://www.homesworldwide.co.uk/europe/france/news/2/easy_train_access_to_eastern_france?news_id=0039250
Find out more about the Alsace region here
As UK House prices climb further, France still offers the best investment opportunity in Europe Wednesday 25th April 2007
Property prices rising fastest in Upper Normandy say experts
Article by Pascal Molliere
Tuesday 24th April 2007, 23:07
The housing market in Great Britain has been steadily rising for almost 2 decades but experts are predicting a major slow-down which will see prices level off. So what next then for the hungry property developer who’s looking to make some fast cash?
While reports say that far flung European destinations such as Bulgaria, Croatia, Estonia and even Hungary are returning vast sums of profits for property developers, there still remains one consistent out-performer on the European housing marketplace and with it being on our own doorstep, it is no wonder why France is set to become the next reliable and long-standing property hotspot.
The news about surging house prices and rising interest rates is never out of the news. A plethora of home and property programmes swamp our daytime (and night time) tv schedule and there aren’t many of us who haven’t thought of how we can either climb onto the property ladder or improve our bricks and mortar assets to realise those ridiculous price levels that have been achieved time and time again.
It’s official, property is more reliable than our pensions, more reliable than gold and certainly more profitable than working for a living. But with the ever growing interest in property developing and refurbishing, it is no wonder that the market is becoming somewhat overcrowded. Not in France however, and a growing army of first time and experienced property developers are casting their nets across the English Channel to France and in particular Northern Normandy for their profit fix in the real estate business.
France as a property hotspot is not particularly a new thing. Indeed, property in France has shown a steady increase in value over the past 50 years and more importantly in the last 10 years. But it is in the last 6 months that have really shown a difference and is what leading market economist Jean-Luc Brouillet has been predicting.
“France is the new destination for long-term European growth” says Brouillet, managing director of one of France’s leading banks. “Last year we saw and increase of foreign investment into property of 3.5%, making a total of 7.9% of property being bought with foreign money. The year before it was 3% - but this year has seen the most significant jump yet of almost 11% year-on-year and it is climbing at a rate of 3% a month”.
In particular, areas such as Alsace, Massif Central and Seine et Marne have shown significant rises, but it is Normandy and in particular Upper Normandy that have shown the most interesting results. Jean-Luc Brouillet thinks he knows why. “Towns and villages around the Upper Normandy Seine Valley have proved very popular with British buyers due to it’s proximity to Ports such as Le Havre, Dieppe and airports at Rouen.” He continues “Motorways linking Normandy to Paris is also an important factor”. “Smaller villages such as Caudebec En Caux, St. Gilles De Cretot, Allouville Bellefosse are yet to be discovered and represent prime investment opportunities in this region” “These areas have attracted large increases in property values largely sparked by foreign buyers”. He says “Because France offers an amazing quality of life, coupled with traditional family values and a strong market economy, we are ripe for investment. But it is factors such as our proximity to Britain, cheap property prices and affordable service prices that is encouraging the serious investor to this particular region”.
Property investors are practically guaranteed a return of at least 22% per annum across most regions in France, with some regions such as Normandy fetching more than a 30% increase.
A couple from Portsmouth who rented out their home in England in order to buy a property in Caudebec En Caux late last year have already made a €55,000 profit with just an €130,000 outlay. “We bought a property here in November last year” said John and Frieda Wright “We borrowed the entire amount from BNP (Banque Nationale De Paris) at an amazing rate of just 3% - our repayments were just £300 a month which we could easily afford as we were earning £1700 a month from the rental of our house in England. We sold the French property again only 4 months later for €190,000. All it needed was a new kitchen and bathroom which we bought from Ikea in France.
John met his German wife Frieda while on holiday in Turkey 3 years ago and got married in England in 2005. “We wanted to tap into the potential of property because it seemed a reliable and straight-forward way to make money work for you, but we quickly realised that for every one potential bargain in the UK there exists 30 – 40 cash buyers who are ready to pounce instantly to snap up the property”. Frieda, from Berlin said “This in turn forces prices higher and therefore profit margins are forever being squeezed”. “We did a little homework and discovered that Europe is changing dramatically with regards migration, property and market economies. We looked on some European property sites and then some French property sites such as 1st-for-french-property.co.uk and we found that prices were very affordable”. Frieda added “I have friends in the region who were telling me that prices were moving up and up in Normandy very quickly, so we started looking there”.
2 months later, the couple had found their ideal project, a slightly run-down house in upper Normandy region in a town called Caudebec En Caux. A pretty historical town situated along the banks of the river Seine, a few miles inland from the large deep sea port of Le Havre.
The couple are typical of many young investors who are looking further afield to realise a better return on their investments or to live in and build a new life. “Many people are also looking to build businesses in France such as Café’s or Gites (Bed & Breakfast)” said Brouillet “Many foreign visitors are choosing a life in France because of the quality and the ease of life compared to that in the UK”.
With many major French towns and cities now within easy reach of UK shores thanks to the high-speed rail link, cheap airline deals and fast motorway links in France, many British investors are also choosing to live in France and maintain a house and/or business in the UK. “Better transport systems, less cars on the road, lower taxes and higher quality education is tempting for many cash strapped British families” said Brouillet. So we decided to check out a few of these claims.
We took a look on one or two French property websites and found quite a few bargains. For example, this one property set in a National Park area in the Normandy countryside on the website1st-for-french-property.co.uk . The description reads - “This half timbered detached residence, built in 1830, was once the village shop cum post office cum café, and has ample space to either keep as a large family home, or to be used as a B & B. A 5 bedroomed property priced at only £140,000, the listing goes on to say There is also a large barn on the property which could be converted to living space. The house stands on 800 sq metres of land.
This particular find is typical of several in this region, however it represents an interesting prospect with it's own un-converted barn. Others included a 4 storey period house with a pool and 2 acres of land for £300,000, a riverside apartment priced at £80,000 and a converted bakery in the town centre for £180,000.
With interest rates set to rise in the UK by another quater of one percent and further still by the time summer is upon us, France is definitely offering something special for the serious and the first time property investor.
French property 'offers excellent alternative to Spain' Wednesday 25th April 2007
Article from The London Stock Exchange (please see link below)
25th April 2007 23:02
The property market in France offers British investors an excellent alternative to the saturated Spanish market, according to one property search company.
Rightmove claimed that there are still "lots of places" in France that are relatively untouched by the overseas property market, such as the wine regions.
Burgundy and Rhone, for example, are "definitely" locations that investors should be thinking about, thanks to the beautiful surroundings and affordable prices from a British perspective, revealed Rightmove.
While these areas have often been overlooked by those seeking properties on the Costa Del Sol, the saturation in the Spanish market means that France offers many investment opportunities by comparison, the company stated.
Maud Rousseau, a spokesperson for Rightmove, commented: "If you buy a house in Burgundy, you can still get a very good price for an amazing property - it's very expensive for a French wallet, but for a British wallet, it's not at all."
Recent losses on the stock markets for Spanish property companies have led to growing fears that the Spanish property bubble may be about to burst, according to recent reports.
Online property searches up 399% Tuesday 17th April 2007
The volume of online international property searches has leapt 399% in twelve months, according to a new report
Tuesday, 17 April 2007
Holly Kirkwood of Country Life
(to read full article please click on the link below)
The number of people looking for international property online has more than trebled in a year, as new research from Mintel found that around 800,000 British households now own a property abroad.
Primelocation.com found that the number of searches for international property conducted by UK residents jumped 399% in 12 months, with the number leaping up by 25% between February and March alone.
France and Spain top this popularity list, while Italy is also a common choice, as it overtook Portugal for third place. But the country with the most dramatic increase in interest proved to be the United Arab Emirates, which climbed ten places in the past twelve months to sixth most popular country. The research also found that Canada is gaining in popularity, with search volumes up by 285% from last month alone
Over half of all Brits hope to retire abroad Saturday 14th April 2007
14 April 2007
Over half of all Britons hope to retire abroad, according to a survey by Insure4Retirement.co.uk. The leading reason behind the decision to emigrate proved to be long-standing fears about retired life in the UK.
The findings, published from an annual customer survey, revealed the most popular retirement destinations for disaffected Brits are Spain, France and Canada.
The single largest worry for the retired community in Britain proved to be concerns over money and maintaining a secure income; 40% of all respondents cited this issue as their greatest fear. Further concerns about retiring in the UK included the spiralling cost of healthcare, worries surrounding the NHS and fear of hospital waiting lists. One in four polled was also concerned with council tax, while health (7%), vandalism (6%) and immigration (6%) were also major concerns.
Managing Director of Insure4Retirement.co.uk, David Holden said, “This year’s survey is an accurate reflection of how many people over fifty feel - neglected and facing an uncertain future. That over half of those polled are seriously considering retiring abroad is a telling indictment on the poor level of service provision and financial security offered to the retirement community.
At Insure4Retirement.co.uk we believe that the over 50’s deserve better. People over 50 are more careful with their homes and their property than younger age groups. It’s only fair therefore that they should reap the benefits of this considerate lifestyle by - at long last - paying less for Insurance.”
French Beat Swiss In Winter Resort Ranking Wednesday 4th April 2007
Great news for owners of ski property in France, as Tignes pips Nendaz to top the winter holiday resort chart.
Holiday rental specialists Interhome have just revealed their top winter holiday spots, and the French resort of Tignes has moved up three places from last year, knocking Nadaz in Switzerland off the top spot!
The French resort enjoyed a 61 per cent increase in year-on-year bookings through Interhome, who handle 5,000 ski properties, and director Madeleine Winship commented, "Tignes is high up and offers glacier skiing - an added bonus in a season when snow conditions have been unpredictable."
Another French resort to have enjoyed increased business through Interhome is Chatel, and there have also been upswings for Verbier (Switzerland), Zell Am (Austria), and Grindelwald (Switzerland).
To read the full article please click on the link below.
Full Article on Homes Worldwide
Sunnier outlook for holiday home taxpayers Friday 23rd March 2007
Sharlene Goff writes for the Financial Times
Published: March 21 2007 19:00 | Last updated: March 21 2007 19:00
Hundreds of thousands of people who have bought overseas holiday homes through companies will enjoy lower income tax charges following changes flagged in Wednesday’s Budget.
The move was heralded as much-needed common sense as, although these many homeowners were in theory clocking up significant income tax bills, only a minority of owners of overseas property were actually paying the tax.
Gordon Brown has removed the “benefit in kind” tax charge that has been payable on overseas properties purchased through companies – effectively an income tax charge on the property’s assumed annual rental income.
So a higher rate taxpayer who purchased an overseas property worth £500,000 with a notional rental yield of 8 per cent, would have been liable to pay income tax of £16,000 each year.
To read the full article please click on the link below:
What to check before instructing a French property lawyer Wednesday 21st March 2007
Here are a few points one should always check before instructing a solicitor that claims to be a "French Property specialist":
1. Am I dealing with a qualified French lawyer, i.e. a French "Avocat" qualified to practise French law? Obviously, a trained, qualified French lawyer is much more able to represent you than a lawyer qualified in another jurisdiction. It takes at least 7 years to qualify as solicitor in France. The knowledge and experience required to practise law as French property lawyer is immensely higher than what a foreign lawyer may learn by attending a couple of French Property Law seminars for example;
2. Is this lawyer registered in France with a local Law Society (this is called "Ordre des Avocats")? Registration is indeed compulsory to practise French Law as a French lawyer, but some people purporting to be "French lawyers" are registered neither in France or the Country where they are established!
3. Does he have a dual qualification: e.g. French lawyer and UK or Irish Solicitor? Customers expect to get legal advice in English, but using English legal terms can be totally misleading if used in the wrong context. There are many false cognates, which only a dual-qualified lawyer can identify and avoid. There are very few lawyers claiming to be "French law specialists" who actually hold such a dual qualification;
4. Does this lawyer hold Professional Indemnity Insurance specifically covering advice on French Law? In most cases, the answer is simply no. Don't be fooled by those so-called French property specialists purporting to be insured, who mention an insurer's name on their website. Contact the lawyer's professional indemnity insurers and check for yourself.
5. Is this lawyer based in France? If something goes wrong, a local solicitor will find it much easier to defend your interests than a lawyer that is established overseas. A qualified French lawyer established in France can officially act for you when corresponding with French Notaries, local authorities, banks, etc. It may be wrong but, the fact is, in France overseas lawyers do not have the same credibility as French Advocates...
6. Use your common sense: let's face it, if you were French buying property in Ireland for example, would you rather instruct an "Ireland property specialist" based in France or an Irish trained, qualified and registered solicitor?
Free Weeks Occupation Offered for Reservations Before 10th April 2007 Friday 16th March 2007
We are pleased to advise of an attractive promotion on an otherwise "pure investment" leaseback development in Les Mathes–La Palmyre in the Charente Maritime.
This new development lies in the middle of the small peninsular (only 1/2 a km from the beaches in either direction) It consists of 138 single or 2 story renovated houses set in 16 hectares of land which have been dedicated to outdoor living.
PROMOTION: The developer is offering one weeks holiday to be taken in either June or September for a five year period for all reservations made before 10th April 2007 (limited to 20 properties only). To find out more please contact us.
For more information please click on the link below:
Your French Property joins European Property.com Wednesday 14th March 2007
Your French Property has become a member the European Property.com portal where you will soon be able to view our properties.
Rare Sea Front Apartments - PAY NO NOTARY FEES Monday 12th March 2007
Exceptional Financial Promotion
Exceptional & Rare Beachfront Apartments On France's glorious West Coast
Classic Purchase with high yield seasonal letting
All reservations (transfer or contract signed) before 21st March will benefit from having the notary fees paid (approx 3.5% of the purchase price).
The developer also has a bank guarantee which ensures peace of mind during the build process, and he is also offering an unusual buy back promise to customers, guaranteeing that if they wish to sell during the first two years he will buy back their apartment from them at the price they paid.
Just six apartments are currently available.
To find out more, please visit the link below.
Low-cost flights could boost Lille property Friday 2nd March 2007
Lille could be set to be the next big property investment destination after a low-cost airline announced that it is to begin direct flights to the city.
bmi regional said that it would be starting the UK's first direct flights to the city in northern France from April 23rd.
The flights will take place six days a week from Leeds Bradford Airport, and are scheduled to offer convenient connections for passengers coming to and from Edinburgh and Glasgow.
To read the full article on RealEstate TV please click on link below:
Housing Demand Forecast to Remain Strong Wednesday 21st February 2007
Article From Internet French Property.com (see below for link to full article)
A major study into the future demand for housing in France has concluded that demand will remain strong in the coming years, with the need for around 500,000 new homes a year up to 2020.
The study was carried out for the French mortgage specialist Crédit Foncier by the University of Paris-Dauphine.
The research team base their forecast on four main structural trends taking place in the country – an ageing population, the breakdown of the family, growing professional mobility and levels of migration. Ageing Population
In 2005 there were nearly 13 million people in France over the age of 65 years, a figure that will grow by 10 million to 2050, when seniors will comprise one third of the population.
This growth will not only reduce the number of homes coming on to the market, but it is also increasing the demand for second homes by this group.
In effect, the order of the day is ‘mobility and security’, with retired persons buying two or more homes, which offers them one home for winter and one for summer, or one to meet their existing needs and one that will be suitable in older age. Future of Family
The report points a bleak picture on the future of the family, with divorce rates continuing at around 40%, an increase in those wishing to live alone, and many young adults seeking to move out of the family home as quickly as possible to share with friends.
The authors consider the trend towards the breakdown of the family to be ‘irresistible’, and that it will continue to push the demand for more homes. Employment Mobility
Employment trends are also driving the demand for second homes, with an increasing number of professionals leading a nomadic lifestyle, working away from home during the week and returning home at the weekend.
Somewhat perversely, therefore, the growing instability of employment, with many jobs now on fixed terms and based around ‘projects’ and ‘missions’, is resulting in increased pressur on the housing market.
France is still top tourist destination Thursday 8th February 2007
France remains the most popular destination for the world's tourists, despite fierce competition from other destinations, the French Tourism Ministry has confirmed.
A total of 78 million people visited the country in 2006, a 2.7 per cent increase on 2005, while revenues from tourism rose 2.5 per cent from €34 billion in 2005.
To read the full article published by Holidaylettings.co.uk please click on the link below.
Paris tipped as top property investment city Thursday 8th February 2007
Paris has been named as the top investment market in Europe for 2007, beating off competition from London, Stockholm, Munich and Lyon.
Published by the Urban Landscape Institute in partnership with PricewaterhouseCoopers, the Emerging Trends in Real Estate Europe report for 2007 rates the French capital highly for both return prospects and low risk.
The report also pointed to the city's potential due to its status as a global gateway, the good urban regeneration currently underway as well as its economic stability and sustainability.
To view the full article by Holidaylettings.co.uk please visit the link below:
Latest Photos of Building Work in Notre Dame de Bellecombe Wednesday 31st January 2007
To see the very latest site photos from the new leaseback development in Notre Dame de Bellecombe please click on the link below.
These photos were taken on January 30th.
Currently, we have just one two bedroom apartment available on this development - if you would like to receive more information please do contact us as we do not expect it to stay on the market for very long.
To View Site Photos - Please Click Here
Shortage of New Build Property in Strasbourg Monday 29th January 2007
The arrival of the TGV Est (East TGV fast train service) and the development of the East-West axis, has given a new breath of life to the town of Strasbourg. However, all of a sudden, there is an insufficient supply of new build properties in the area.
In France, each time the TGV service comes to a town, it becomes a celebrated event and Strasbourg isn’t any different. Strasbourg will only be two hours and twenty minutes from Paris and will welcome the TGV Est in the heart of the town from June 10th. In December, this same line will also serve Munich. Better again, in 2010 with the TGV Rhin-Rhone, the capital of Alsace will see itself transformed as it becomes the crossroads of two railroad axis. Therefore, to go to Lille to Budapest or from Hamburg to Barcelona, everyone will go through Strasbourg!
When the TGV has arrived in other towns such as Lyon, Aix en Provence or Marseille, it has really boosted local economy as companies relocate and the same is expected of Strasbourg. The additional advantage here are the long term plans mentioned above.
“Even if the town hall of Strasbourg are trying to reply to the demand for new build properties in the area, the supply of new build developments in Strasbourg is insufficient compared to the current demand” stated a representative from a leading French construction company.
Prices remain reasonable however, generally between 2 800 – 3 500 Euros ex VAT per m2 with some of the top end properties going for up to 4 000 Euros per m2.
Leaseback Property in Strasbourg
Come & Meet Us! Wednesday 17th January 2007
Come and meet the Your French Property team and mortgage partner, French Mortgage Direct at the Vive La France exhibition in London Olympia on 19 - 21st January (stand numbers 342 & 344).
Opening hours and directions can be found on the Vive La France website.
Britons Want to be French! Monday 16th October 2006
It seems as if the attraction of France is bigger than most people expect! There has been quite a few articles recently about Brits wanting to be French and relocating there.
Click on the link to see Decanter Magazines view on this.
YFP in the Press Monday 2nd October 2006
The Irish "Moving In Magazine" featured a one page article written by Sabine Druce of Your French Property in their latest issue.
To read the article please click on the link.
Building Site Photo - Notre Dame de Bellecombe Friday 25th August 2006
Work at Notre Dame de Bellecombe has advanced since our last visit and they are currently working on the lower floor.
The final deeds for this property are expected to be ready to be signed in October.
We still have a couple of properties available on this attractive, well located development - please visit the link below for development details.
Photos from Parc Moulin Wednesday 23rd August 2006
These photos were taken onsite at Parc Moulin in July this year.
6 Houses Re-Available in the Lot (Leaseback) Wednesday 12th July 2006
This popular development sold out within days of coming on the market earlier this year, but we now have 6 houses re-available.
Please click on the link below for details.
Notaries - Doing it by the book Monday 19th June 2006
French Magazine's resident legal expert Graham Platt, solicitor and French legal expert for Fox Hayes, reveals why cutting corners or using underhand tactics when dealing with notaries will land you in trouble.
Buying with SIPP's Monday 19th June 2006
David Anderson from France Magazine writes 'Brown's U-turn may appear to have ruled out using a pension to buy French Property, but it is still possible.
Investment areas in France Monday 19th June 2006
Taken from French Magazine's june issue - property statistics on where to find areas of France which are still affordable and good investment areas.
New flight routes to France Monday 19th June 2006
Taken from French Magazine's June 2006 issue, a brief overview of the new flight routes from the U.K to France.
Re-Sale House price increases remain lively in 2005 Monday 5th June 2006
Article translated from the original French article published on Batiactu.com 05/06/06.
The re-sale property market has continued its ascension in 2005. An increase of 14.3% in prices for existing properties all over France, the market has recorded the second strongest increase since 1998 according to the Index Notaire-INSEE.
The property market did not decrease in 2005. Far from it! The price of existing properties has respectively increased by 14.8% in Ile-De-France, and 14% throughout the rest of France, so an increase of 14.3% throughout France. After the increase of 15.9% in 2004, it is the second largest increase since 1998. Over 8 years, prices have doubled (+113%).
Even though all types of properties are included in the increase, the price of apartments has increased more than houses, with a progression of 15.3% and 13.4% respectively. This is for the 5th consecutive year.
In Ile-De-France, apartment prices rose by 15.1% against 14.2% for houses. For the two types of properties, it is the departments of Seine Saint-Denis (+21.4% for apartments; +17.6% for houses), the Essonne (+18.5%; +17.6%) and the Val d?Oise (+17.1%; +17.5%) which have recorded the largest increases.
Outside of Ile de France, the apartment prices have also increased more than houses. In detail, it is the regions of Rhone-Alpes and PACA (Provence Alpes Cote d?Azur) which have subsisted the highest increases, +16.2% and 15.7% respectively for apartments and +13% and 12.8% for houses.
SIPPS Advice in French Property News Wednesday 31st May 2006
David Anderson of Sykes Anderson Solicitors writes in the May edition of French Property News Magazine about how you can still buy French leasebacks or French commercial property with your self invested pension.
To see the full article, please click on the picture.
French property prices soar 10.3% Monday 8th May 2006
French property prices increased by 10.3% in 2005, according to the French National Association of Estate Agents (FNAIM).
«ARC 1950 Le Village» has been voted 'Best French Apartment' and 'Best Ski Development' at the The Homes Overseas Magazine Awards 2005. Monday 8th May 2006
Arc 1950 Le Village won the Gold Medal in both the above categories ahead of L?Orée des Cimes - MGM French Properties (Silver) and Humber Valley?Newfound Property International (Bronze) during the Homes Overseas award evening hosted at the Dorchester Hotel in London on the 4th May 2006.
The jury considered that the Arc 1950 complex was a remarkable example of a concept based on a fantasy idea: the owners can benefit from the advantages of a life of luxury whilst living in the heart of an authentic French village!
The Homes Overseas Award website states that ?This new award will be presented to the development that offers the best ski properties currently on the market. The overall design and quality of the resort will be judged alongside the location, and how convenient it is for the slopes. Other facilities, such as spas and golf courses, will also be considered as this will increase the developments appeal during the summer months. Value for money will play a large part in the decision.?
Members of the Your French Property team visited the resort in April of this year and were impressed by the standard of accommodation available as well as the accessibility and the charming village centre.
The last few properties are now available for sale in the village, to find out more please click on the link below:
