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Will there be luxury houses cropping up all over France? - 11 October 2011

The president of France has announced his decision to overhaul the wealth tax reform system. He plans to increase the tax limit next year and this has caused frenzy amongst the media.

One outcome of this news is that luxury property developers are already starting to target the rich and trying to entice them into purchasing property in some of the more secluded areas of France. Luxury accommodation and lavish properties are going to be very attractive to those wealthy foreign investors; as this proposal by President Sarkozy means that wealth tax will only be payable on much higher amounts of prosperity now.

This could be good news for those in the property development business. Although this decision has only just been announced, it’s almost certain property developers who have caught wind of this news will definitely be making plans to branch out to the wealthy and try to encourage those to look into property in France.

France has lots to offer in terms of location, scenery and architecture. France has some of the most varied regions in terms of weather and culture. Depending on your preference France can offer property with stunning scenery in the mountain tops in regions such as the Pyrenees, the Alps and Massif Central or with spectacular beaches alongside the Mediterranean and Atlantic coastlines. The combination of its fantastic surroundings and now this increase in the tax limit should mean that an increase in high end property is almost inevitable.

President Sarkozy has suggested the changes in the tax system to try and help France and improve its economy after the weakening of the Euro recently. Until the changes are brought about, it will undoubtedly involve much speculation so we will have to just wait and see if these changes really do help France for the better. So if looking to buy a property in France this should be more of an incentive!


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