The changes in taxation and the strong demand from the foreign investors will lead to good results in the elite sector of the French real estate market. This forecast was made by experts agencies Home Hunts, reports ee24.com with reference to home-hunts.com.
The Government of France has approved the introduction of tax incentives for the owners of the second property. Those who own a second property for 22 years will be exempted from the capital gains tax.
The tax reduction of 25% would inevitably lead to an increase in real estate sales in the coming year. The tax savings will make sellers more flexible in regard to pricing. This, in turn, will attract buyers to the market.
In general, the current trend is expected to continue to attract the foreign investors to the French market. Foreigners from the Middle East and China prefer to buy in Paris, the Russians and the British purchase in Monaco, and the Scandinavians and Dutch stay on the French Riviera.