[Democorruptcy]

£700 a year on a £350k house?

If it's 20% of the imputed rent surely a £350k house would rent for more than £3,500 a year?

This quote is hilarious:

Quote

Trevor Leggett, Chief Executive of French estate agents Leggett Immobilier, said: 'The French property market has only just weathered the storm created by the incompetence of the banking sector, and could now be led into even more turbulent waters by the political manoeuvring of the current government.

'This proposed tax of 20 per cent is an idea that came about without any consultation of those of us within the industry.

'With the current, favourable, taxation regime in France an increasing number of UK and European citizens are looking to retire over here and we believe that there are far more efficient and equitable ways for the government to balance the books. '

Even little estate agents have a "Chief Executive"
The French property market bubbled because of the banks
An estate agent (English) wants the French government to ask his permission about what they can do! (France is not like the UK!)
People retiring over there will not have to pay this new tax - if more people sell up it's good news for them if prices fall

This post has been edited by Redhat Sly: 12 June 2011 - 10:34 AM

[Realistbear]

doccyboy, on 12 June 2011 - 09:59 AM, said:

old news and many threads - merged with recent one.

"You can't get enough of a good thing." Max Bygraves c. 1961

[Agentimmo]

I'd stick the tax up to 40% or 50%. This would get the market moving again. There are a lot of French families who have a 2nd or 3rd home inherited from 1 or 2 generations back. The laws in France means they are shared with the surviving kids , grandkids. In many cases, the property is kept as the family members can't agree to sell it. I've got French relations who are in this situation. Due to one being a stubborn cow, the house reamins unoccupied for 45weeks of the year, except for the times her and her offspring decide they need a holiday. She thinks having a 2nd home makes her rich

For all those other foreigners with a residence in France who are unhappy at the new tax. Tough titty. If you can't pay / won't pay, go elsewhere. The CAC40 companies are scamming the country by paying little or no tax. Individuals are seen as a soft and easy target. I'd much rather see the CAC40 companies taxed, but as the govt doesn't want to do this, I'd rather someone else with a bit more spare cash than the average Smicard (french min national wage earner) cough up the money.

[campervanman]

Agentimmo, on 13 June 2011 - 10:06 AM, said:

I'd stick the tax up to 40% or 50%. This would get the market moving again. There are a lot of French families who have a 2nd or 3rd home inherited from 1 or 2 generations back. The laws in France means they are shared with the surviving kids , grandkids. In many cases, the property is kept as the family members can't agree to sell it. I've got French relations who are in this situation. Due to one being a stubborn cow, the house reamins unoccupied for 45weeks of the year, except for the times her and her offspring decide they need a holiday. She thinks having a 2nd home makes her rich

For all those other foreigners with a residence in France who are unhappy at the new tax. Tough titty. If you can't pay / won't pay, go elsewhere. The CAC40 companies are scamming the country by paying little or no tax. Individuals are seen as a soft and easy target. I'd much rather see the CAC40 companies taxed, but as the govt doesn't want to do this, I'd rather someone else with a bit more spare cash than the average Smicard (french min national wage earner) cough up the money.

I'd stick the tax up to 40% or 50%

Not 0% then

http://www.telegraph...-in-France.html


"British people help rejuvenate some of our countryside and have a very positive influence, and we should be grateful,"

This is very true. Many derelict properties that the French wouldn't bother with have been brought bsack to life by Brits who have injected welcome money into rural economies via the taxes they already pay and on the money they put into local businesses. Far better to buy a second home in France that doesn't deprive someone else of a first home as is the case in the UK.

[Agentimmo]

Quote

"British people help rejuvenate some of our countryside and have a very positive influence, and we should be grateful,"

What a load of BS.
Still, if he believes that then good luck to him.

So that's the French property crash averted for another X months , as the Brits will now keep their properties after being saved from a £700 tax. Whew !

Sarkozy might not be the president in 11 months time.....be thankful for small mercies.