Buying a House in France ?

We didn't deal with Neil, although I did see him in the office. Another agent took us to see a few properties, one of which had a distinct smell of damp. When my husband pointed this out to him, he said no, no, there's no damp here, I'm a builder and I can tell you that for sure.

We subsequently heard from someone who lives there that this particular development has long standing problems with damp.

Felt he was shifty, just didn't feel at all comfortable with him, saw a few properties but didn't go back.

Perplexed said:

Silvester,

I've been to Perpignan. Flew into Girona with Ryanair & got the train up. I found this the cheapest way - the train to Perpignan was around €9 & the journey was spectacular as it hugs the coast.

Click to expand...

Perpignan is a nice town and have to agree about the train journey in that part of the world fantastic scenery! The town of Collioure right near the border is beautiful too I am sure some of you have been there. I do love Nice though myself too and its so close to so many beautiful towns, e.g. monte carlo, st maxime, cannes, Juan Les Pins, etc. and only around 5 hours by TGV to Paris (Dublin to Cork on the bus!)

Valid point. I think i'd be suspicious too if I thought the agent wasn't telling me the whole truth. Better to be safe than sorry. Anyhow, thanks for letting me know.

Cheers, iarmst.

Do they speak catalan in or near perpignan?

Certainly its part of Catalonia but French will do you grand there

The annualised rate of capital appreciation for apartments in Nice has slowed down to 9.4% (up to Q3 2006), according to the FNAIM, who publish price surveys every 3 months.

The whole of France has witnessed a marked slowdown for the last few months. The French economy is stagnant, unemployment is very high. Foreign buyers account for about 30% of property purchases on the French Riviera, and there is no sign of a drop in demand from this end.

Contrary to the general French sentiment of 'Protectionism is best', the government has made it very attractive to invest in French property, dropping the rate of capital gains tax to 16% for foreign (EU) residents. The French pay 24%, non-Eu nationals - even more.

Has anybody bought along the Riviera for an investment? If yes, how is it going?

"Contrary to the general French sentiment of 'Protectionism is best', the government has made it very attractive to invest in French property, dropping the rate of capital gains tax to 16% for foreign (EU) residents. The French pay 24%, non-Eu nationals - even more."

I am a non-National , resident in Ireland since 2001 . What would be capital Gain Tax in my case ?

Thanks

On the French end, you will pay 16% at the Notaire's office when you sell, if you sell within 5 years (sliding scale after that to 0% Capital Gains after 15 years).
On the Irish side, you pay the remaining balance to the Revenue commissioners. i.e. 4% to irish authorities.
I called the Revenue Commissioners a few weeks ago about it.

Riviera, hows appreciation going now ? Has Sarkosy made a difference as people expected ?

Perplexed,

Its too early to see the effects of his election. Lots of positive steps though:
-Inheritance taxed abolished for most people
-Max tax rate capped for high earners, etc

Nice in particular has the tramway opening next month and lots of other infrastrcture projects throughout the city.

Sarkozy released his budget yesterday:
http://www.bloomberg.com/apps/news?pid=20601087&sid=akFkgY_cG2eM&refer=home

Appreciation is 9.1% for apartments in Nice. I don't really follow the overall French market. This could potentially rise due to the tramway. It will take a year from now to see the effects of Sarkozy's policies.

Perplexed said:

Riviera, hows appreciation going now

Click to expand...

I have been looking into buying in Nice so did some research.

In a nut shell:
* In 2006, average price increased by 17.6%.
* In the last 5 years, prices increased by 107%.
* New property will cost over €4000 per sqm.
* Nice East is where the main building activity seems to take place, in 2 areas called "Pasteur" and "Riquier". Increase there last year was 20%. Though tramway will be in "Pasteur" only in 2010.
* Nice West is a massive development of 200 000 sqm of offices and appartments. The land was sold to Cogedim-Icade by the city at reduced price. In exchange, the developper is to sell the properties 20% below current market value. The first 109 appartments will available in 2009.
* Because of its high property price, 70% of the habitants of Nice qualify for social housing.