Tuesday, Sep 28, 2010
Wonder how french property will be effected
Yahoo: France to unveil tough budget cuts
This amounts to de facto tax increases on certain previously favoured categories of worker and on some insurance and property investments as well as on domestic Internet, television and telephone connections.
Posted by mark @ 12:21 PM (597 views) Add Comment
1 Comment
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1. Mayalabeille said...
To answer your question: Not much!
French people are not traditionally buying property in order to make a few €. People don't move as often as in the UK when it comes to buying a bigger property just for the sake of it.
Still only 58% of owner occupier in France and yet Sarkozy have plan to reach 70% within the next 4 years.
The mortgage market in France is very different than in the UK, they never considered landing 8x a joint income.... stuck to 33% of the disposable income every month as repayment so as a result the price dspite incrasing a lot over the last decade did not go up the roof.
Awaiting on some news on a incentive discussed in September and that "could" be in place in 2011: 0% mortgage interest for first time buyer for a few years of their mortgage.
PS: when you take a fized rate mortgage in France it can be for the life of your mortgage (unless you decide to remortgage) so my opinion is rather buy now when rates are low as you could be sorted for the life of your mortgage at 3%.
Obviously nothing to do with the UK