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Monday, October 13th, 2008
If you have turned on the TV of late or tuned in to the radio, picked up a newspaper or even overheard conversations in bars or on trains there is absolutely no way you can have missed the fact that the UK is in a terrible situation financially speaking.
The situation is expected to get worse with the most negative, (or perhaps realistic) analysts suggesting that the end will not be in sight for at least five years. So how on earth can anyone find anything positive to focus on when all around us financial markets are falling, banks are going bankrupt and the average man and woman on the street are the ones being most affected.
Well, here’s a little secret that not so many people know about – the situation across the Channel in la belle France is actually a lot more positive. If you’re wondering how to squirrel your savings away into something safer than a semi-secure bank account or a rapidly dwindling stock or share, here are ten reasons to move into French investment property.
My goodness, just when you thought you’d heard it all, along comes an opinion to shock you! Apparently there are those in the market who believe that because the value of the pound has slid so decisively against the euro, and because British house prices have fallen even further, now would be a great time to remortgage a property in France to buy in the UK!
Surely this is the way madness and personal financial crisis lies, and it’s an opinion that we at Shelter Offshore certainly don’t share. Neither does Iain Martin of City Wire who’s also been quoted as calling the idea ‘madness’ on the Homes Overseas website. If you can’t quite see why we’re so shocked, in this article we’ll break down some scenarios for you and highlight a few flaws in the proposed property investment plan.
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Because of the estate taxation laws and succession rules in France, many international owners of French property found it advantageous to purchase their homes through a local company structure. For Britons the requirement to purchase in this way to protect their French real estate from inheritance tax and unfair laws of succession unfortunately rendered them liable for a benefit-in-kind taxation in the UK on the use of their French property.
Now, thank goodness, we can bring you some positive news for owners of French property because the government is not only scrapping this tax, they are making the ruling retrospective so that all those who have paid the tax can actually claim it back.
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82 million is the number of visitors France managed to attract in 2007, ensuring that the nation still remains the number one most visited country in the whole world. And if you were looking for a reason to consider investing in French real estate we can give you 82 million reasons to invest in French property because not only is the country’s tourism landscape already clearly strong, it is strengthening.
The French are not content with the fact that in real terms their dominance in attracting visitor numbers is declining as emerging destinations plough massive funds into the promotion of their appeal. So, the French have started a drive to secure their status and in so doing, they have succeeded in making their property market even more attractive for investors.
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Lying just an hour’s drive from Toulouse airport and within reach of the ocean, the Pyrenees and also located close to the Spanish border, Gascony is a region of France well worth exploration if you’re looking to get away from it all in style. The region is famous for its Armagnac and foie gras and is becoming better known as a perfect French retreat for those in search of the real France, unsullied by mass tourism and undiscovered by a mass influx of foreign buyers.
In this article we’ll discuss why to buy French property in Gascony and look at what the region offers over other better-known or even more affordable parts of France.
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