A personal blog on Life, current information, working and buying property on the French Riviera, written by the owner of French Riviera Property Search, Jackie Pressman. Jackie is an experienced business woman with a background in finance, management and property.
Just in – the ECB have cut their interest rate from 1.5% to 1.25%. This is bound to be reflected in lower borrowing rates. I will advise in about a week when the lending banks issue their revised rates.
Another good reason to buy property here on the French Riviera
I know, I know, the Mediterranean is supposed to be sunny and warm all the time – and we have seen nothing but heavy rain and strong winds for a few days now – creating several flash floods in an area not used to such torrents.
Our only saving factor is that the wind will blow away the clouds and it will be bright and sunny again very soon. It is often said that the rainy weather on the French Riviera is in November and February and that the farmland needs the water – so we cant complain too much.
November Newsletter
In our region of Provence & Côte d’Azur there is a new law to reduce drink driving.
The breathalyzers can be wall mounted like this, or use portable inflatable bags.
See what Jackie thinks – at the end of the article below … Continue reading
MIPIM Cannes 2012
Many shrewd investors are intrigued by the fact that Cannes is the second largest convention centre in France (after Paris) with a large international convention several times a year. 
One of the largest is MIPIM (the International property congress) which brings in companies and councils from all over the world. This convention is held in March and already many apartments are booked and deposits paid. By the end of this year there will be little left. Hotels cannot offer sufficient rooms and are quickly booked out, so private rental apartments are highly sought after (and usually cheaper than a hotel of equal standing).
All companies want a good, clean, centrally located apartment for their attendees and nowadays always with WiFi.
What this means for you …
… according to a Lloyds TSB survey published yesterday.
Against the current economic backdrop, new research raises concerns that many wealthy people are considering leaving the UK. Some 36% of people with more than GBP250,000 of savings and investments would like to move abroad. 14% say they are likely to leave in the next two years.
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The survey of wealthy individuals was commissioned by Lloyds TSB International Wealth in the first of a new series of reports about wealthy people’s attitudes to emigration.
High taxes are cited as one of the key reasons for wealthy people to consider a move overseas — some 35% of respondents said tax rates may prompt them to leave the UK. The only more common selections were the weather (44%) and crime and antisocial behavior (43%).
The highest proportion of wealthy leavers want to come to France.
Look at my website: www.FrenchRivieraPropertySearch.com and then contact me, Jackie Pressman, and I will take care of your requirements from finding you the property of your dreams, to ensuring you purchase in the most tax and legally efficient way, to assisting you from beginning to happy end.
The President of the French Republic has chosen Cannes as the host city for the summit on 3rd and 4th November 2011
If you wish to search for property during that week – French Riviera Property Search (and Jackie Pressman) – will still be here and working BUT not in Cannes so if it’s a central Cannes property you want, I suggest you come now or after that frenetic week. Continue reading
Out today, we hear that holiday home buys by Brits have increased by around 50,000 from 2006 to 2010 according to a new report by an international property consultancy.
The survey, jointly produced by a sales agency and a lettings website, said that whereas some 385,000 British citizens owned holiday homes in 2006, 430,000 were recorded in 2010.
The report Author says ” “It’s even more surprising because some previous owners will have sold in the interim, so the net increase means there has been a sizeable number of Britons buying since 2006.”
We, here at French Riviera Property Search, know that many foreigners seeking the ‘good life’ of great food, great (cheaper) wine, and great weather will seek out our beautiful area.
So we are here to help you find the property or investment home of your dreams. Contact me, Jackie Pressman, now – and let’s get hunting.
Tax Changes September 2011
New tax legislation has been announced meaning that much higher levels of Capital Gains Tax will be payable by those selling a property in France which is not their principal residence.
Introduced by President Sarkozy as part of the new austerity measures the changes will affect those owning an investment property or second home in France.
Currently, the tax payable on the sale of a second home or investment property, owned by an individual, diminishes to 0% after 15 years of ownership, however from February 2012 the 15 year rule is to be replaced by a less generous one over 30 years.
The tax on second homes will now be calculated on the sale price minus the purchase price originally paid, plus an allowance for inflation. The tax rate is 19% for non-French EU residents but plus social charges of 13.5% for French residents.
What does this mean for those trying to sell a property? To avoid the increased charges, it has been estimated that the initial sale contracts will need to be signed no later than 30th November in order to ensure that the sale is processed by the 31st January 2012.
What does this mean for those buying a property? The difference in the amounts payable may mean that owners are more anxious to sell or that they may now consider a more attractive offer so that they can sell prior to the tax increases.
It is now more important than ever that if you are buying property here you take specialist advice on HOW to buy your property. Personal circumstances are different in each case and our specialist knowledge and links to tax, legal and financial professionals will ensure that there are no nasty tax surprises for you or your family in the years to come. You will be able to simply enjoy your property in this most wonderful region of Europe.
October Newsletter from Jackie Pressman