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In an article that I read yesterday entitled: France encourages buyers It says:
In France President Sarkozy is encouraging us to buy up all those country houses that no French family ever wants. He has cut all inheritance tax on French assets left to the wife or husband, and has trebled the free allowance for each child who inherits property.
The bad news is that any foreign owners under 65 will from this month (September) have to become residents and lose their right to free medical care. (I didn’t follow this. Perhaps the and should have been an or?) But to pay for this the French tax laws allow any family with an income of up to 50,000 euros to pay tax at only 14%.
Now that’s an incentive if ever there was one!!
The same article says that Spain is still one of the cheapest places to buy.
Looking at a world chart of average prices per square metre is a reminder of why Spain is the target for 70% of English buyers: you still get far more for your money. Here are a few comparisons from a survey by Knight Frank. The average in:
Paris is £12,500 per sq.m
Cote d’Azur £6,000 per sq.m
Tuscany £4,500 per sq.m
Dordogne & Cyprus £3,500 per sq.m
Marrakech & Croatia and the Costa del Sol £2,000 per sq.m
London £30,000 per sq.m ❗ -
Claire
i guess much depends on the land usage restriction if a bargain or not?
14% tax sounds good, compared to nearly 30% in UK if you include national insurance. I assume France has that as well though?, or is it mainly private healthcare?
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I’m not sure about healthcare. I think people have health insurance. But hey, 14% Tax! That gives more choice/flexibility to decide on healthcare options.
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France only stopped providing free health care for under 65’s which is what the rest of Europe does anyway. You can still use the EHIC card just the same as Spain. If you do not pay into the National Insurance system here in Spain you need private insurance if under 65. (except for Valencia province).
I think France is more prudent than the UK. There never seems to be the boom/bust cycle in France. When I lived there I was suprised how serious and hardworking the French are. Could be different in the South of the country though!
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When we lived in Paris, there was an 80/20 split on healthcare costs. We paid the consultant/Dr. at the appointment and then claimed it back. I think my husbands employer reimbursed one figure and we claimed the balance back from the state/government. The same applied for prescriptions. They were reclaimable. Whatever way it was it worked very well and we had a very high standard of healthcare.
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I love France but the French seem to loath the British. That and everything shutting down so early (outside Paris). I do know a few people who are living here have been looking at French property. You do get more for your money in France, nicer and unspoilt scenery. Winter is colder though (although it is dire in winter in N: Spain too!)
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I love France but the French seem to loath the British.
It’s reciprocal I think Katy!
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I was going to say that but not sure how to spell it 😉 😆
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Claire do you have a link to the article?
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Fuengi, I tried to google the magazine and then the author with no success. The mag is called Compass.
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pity.
if you get the chance can you see if the article gives sources for its statistics.
thanks
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Fuengi, the sq.m. averages were from the result of a survey by Knight Frank. They are one of the most prominent (top) REAs in the UK. but they are a global company.
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