France is famed for its delectable cuisine and elite wines, its
sunflowers and its lavender. Home to some of the world’s most
sought after vineyards, famous artists and pungent perfumeries, it
is a country brimming with culture and timeless appeal. Thanks to
its extensive and varied interior France caters for a range of
tastes and interests. To the east stand the Alps, offering some of
the highest peaks and the best skiing in Europe, whilst to the
south-west are the Pyrénées, equal in stature and appeal. Some of
the world’s finest cities and regions are also found within French
borders. Paris, the city of love, is also the centre of French
tourism, art, music and architecture and is eternally popular with
tourists the world over. Similarly, the medieval Alsace,
18th century Bordeaux, the sun-drenched vineyards of
Provence, as well as the stunning beaches and busy seaside resorts
along the Mediterranean coast, all exert an unyielding appeal that
accounts for the 75 million visitors drawn to France each year. It
is reputed to be the most visited country in the world and,
according to a survey run by A Place in the Sun, is the
second most desirable overseas destination for UK property buyers,
a statement supported by the fact that almost two thirds of French
property sold to foreigners is to British people. Property prices
here, whilst high, are on average 30% cheaper than in the UK.
Economically, France is maturing into an
economy reliant on market mechanisms rather than government
intervention, with increasing privatisation in certain sectors and
reduced governmental influence. Accounting for 50% of the country’s
GDP, French tax is high, compared to the British tax contribution
of 42%. Yet Sarkozy is trying to redress the situation. He has
introduced tax relief on mortgages, cut wealth and income taxes,
has reduced the inheritance tax laws quite dramatically and has
plans to alter the traditionally French 35-hour working week so
that hours over the 35 are paid tax free. Sarkozy’s sweeping tax
reforms will have a major effect on, amongst many other elements of
French life, the French property market as citizens suddenly have
more capital available to invest into property than before.
Still in this Chapter
Is this is good place to Buy?
Which type of Property should you go for?
Hotspots
The Purchase Process
Mortgages
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