Owners of second homes in France spend there around 40 days a year

Owners of second homes in France spend there around 40 days a year

Buyers of second homes in France spend there a little bit more than 40 days per year, while the maintenance of the property costs a pretty penny. In most cases, the cost exceeds the joy of vacations on the Cote d'Azur, in the Alps or in the wine region of France, reports ee24.com citing lefigaro.fr.

Patrick Ganansia, managing partner of consulting firm Wealth Management Herez, says that second homes are more costly than first homes: there are no tax incentives for them. Annual cost of maintaining a summer home in France can be up to 5% of its price. Upon the sale of such real estate it will be necessary to pay a percentage of the capital gain. This tax is in action in France when a second home belongs to the owner for less than 22 years.

France is a country with the largest number of private pools in Europe. It should be remembered that their costs are also measured in the hundreds of euro. For standard-sized pool 32 sq.m costs range from €350 to €650 per year.