France looks set to become the next investment hotspot for UK landlords. French homes have been off the agenda for many property investors in recent years, as tax rises and a sluggish economy have combined to keep prices and rental returns down. The evidence is coming from several directions that this may be about to change. Driven by punitive actions by the UK government and a return to French competitiveness, investors are being both pushed and pulled to France.
New discounts have been introduced that apply to the work the notaire performs as part of the purchasing process in France. The main role of the notaire is to uphold French law throughout property transactions, and as such he works for neither the buyer nor the seller; the notaire is there to make sure the legal process of buying in France is carried out properly. You will usually only need one notaire, but you are at liberty to choose a separate one if you wish – the fees will be no higher, but rather split between the two of them.
It’s all good news when it comes to outdoor space in France. Land is cheaper here than in the UK and you will be spoilt for choice when it comes to deciding on whether to have a flower garden, vegetable plot or simply a terrace or deck. This time of the year sees abundant growth everywhere, particularly in our corner of the Languedoc, where the vines are now becoming bright green and bushy: a wonderful sight!
According to The Times newspaper, Brittany is the “new Cornwall” for London’s wealthy looking for a second home. “In many ways it’s like a bigger version of Cornwall but with more sun and homes at a fraction of the price,” says the newspaper: “The average value of a property in Brittany hovers about the €150,000 (£120,000) mark and it’s not that difficult to reach.”
Our nearest neighbour France has been, and by all accounts probably always will be, one of the most popular choices choice for British people buying overseas. There are so many reasons why this is the case and we all have our own ideas when it comes to why we hold France in so much affection.
