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Hot Property Locations to Invest in France
With predictions of falling property prices in the UK and USA, looming recession and a credit crunch (whatever that is) - investing in property in France looks to me to be an even better place to invest and live. I am sure the problems which other countries are having will have some effect, but I believe that France will be one of the best places to buy property for a while. Why do I say that? Buying a property in France has up-front legal costs and taxes so a quick speculation is not so attractive, there has to be a 10 to 15 percent margin just to cover these costs. This has helped to keep prices” realistic” for many years and deterred “grab abd run” speculation. Capital gains taxes are fixed for the first five years, so again a quick profit is reduced. Borrowing money for investment is usually a maximum of 70 percent of the price and, importantly, this is not advanced against the property value, but secured against proven income, so risky speculation and loans are not possible. “Sub Prime” is not visible in France. Unlike most “developed” countries, the population of France is growing and demand for property is constantly increasing, this is not an increase due to immigration, but completely home grown. There are family and lifestyle values in France that have been lost or eroded elsewhere, this basically means if you are a “politically correct”, vegan, anti-hunt, non-smoking social worker dealing with health and safety in the home counties, you may not feel comfortable in France. But for most of us it is a good place to live with family values and a polite social warmth. Great weather and lots of sunshine. Great wine and food. Advising a specific location, region or town depends so much on personal preferences that I need to meet and talk to somone looking wanting this sort of advice, but two areas are head and shoulders above the rest - Paris and Languedoc. The Paris of interest is in a relatively small area confined inside the inner peripherique road - restrict this further to about half of the 20 arrondissments in this area and this is a finite resource in a similar way to Manhatten and central London. Prices are still low for the fantastic services and features this magical town offers so it is a good place to buy. Languedoc is many ways is the opposite - one of the largest and lowest populated regions of France, yet is has the best climate and conditions and a good lifestyle - the first humans in Europe lived in this area and it is obvious why. On the main route from Spain to Italy, just about every invading army for the last four thousand years has pillaged (an stayed) in this region - some of the first cultivated vines and the first teaching hospital and university in Europe were in Languedoc - Languedoc is the region of the advanced culture of the “courts of love” and troubadours of the 13th century. More recently Languedoc has had a massive investment for transport and communications, road rail and air links are the best in France and Languedoc Roussillon is designated for a strong population growth, even doubled this will still be a low population region of space and beauty. Combine this with the longest Mediterranean coastline and under developed tourism and you get a formula for growth and success. |
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