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House Price Crash Forum


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About fjcruiser

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  1. The Limousin is a poor part of France, has always been and will always be. There are no jobs, climate wise it is generally wet and cold bar a few months during summer. There is an entire village up for sale and which has not sold for decades. If you need to renovate a property you bought, you will not only face local red tape regarding planning, you will also find it difficult to find reliable builders and you will have to pay as they may need to travel from far away. Limousin is cheap because no French people want to live there, most having left already generations ago for a better life elsewhere.
  2. Another article to be taken with a pinch of salt.There is so much over-supply and no public data available so it is difficult to know what sells and at what price unless you are in the 'know'.
  3. Although any new tax is always unpleasant to digest, property taxes in France are way below the UK and will still be way below after this French new tax.I don't think it will affect the foreign property market in France as people's motivation to buy in France is rarely tax related.No sensible decision ca ever be based simply on taxation as taxes do change all the time.
  4. This buying frenzy is just money laundering.
  5. Does anyone know what the average income to house price ratio looks like in France ?That would more or less answer your question on how much house prices need to come down tobecome affordable.
  6. There is nothing like a soft landing in the property market. Property markets are illiquid by nature. Soft landing ? wishful thinking.
  7. So typical that those who call for more taxes are those who will not be affected by it. BTW, my point is purely academic as I do not own any property anywhere in the world. Also, if this tax is peanuts, can you explain how it will affect the property market in France in a meaningful way ?. I have to laugh at that expression rabachee "spivs and speculators". If there was no speculation, there would be no sellers, nor any buyers......
  8. French nationals leaving abroad will get some exemptions.Non-doms in the UK is a different issue altogether. They have a choice either they pay tax in the UK or they are nominally taxed to the tune of 30,000GBP.Domicile has to do with the nationality of your father BTW.Residency and domicile are two different things. The last comment 'if they don't like it they can leave' is hardly elevating the debate isn't it ?
  9. it discriminates on the grounds of nationality. That's anti-constitutional and against the European laws. That was my point.
  10. The point is no so much it is yet another tax, it simply just discriminates. My take is that it will not be voted as it would be easily challenged iat the European Court of Justice.It is just another one of Sarko's attempts at populism. Although won't be needed now that DSK is out of the picture!
  11. The government justification for taxing foreigners on the basis they do not contribute to French services costs is utter non sense. Foreigners do through the taxe fonciere et d'habitaion. The French governments estimates it will raise approx 176Mil euros which is little considering the costs involved with enforcing this new law. At the same time, it could affect the property market far more especially in areas heavily dependant on tourism where many properties are owned by foreigners who indeed contribute to maintaining economic activity for these regions. It is very much a populist measure and may backfire.
  12. I just love this myth of the rich foreign cash buyers! It has been going on for years now. There is no such thing as a rich foreign cash buyer!Most property purchases in the last 10 years had been done via loans and that lead to the current crisis. FNAIM is behind the curve as usual. the US property market is the sickest of the lot.Why on earth would someone take the US property as an example?.
  13. Some investors have even been paying for 5 years for projects which are not even off the grounds. If they stop, they will be jailed for defaulting. These are not necessarily investors but people who have been living in Dubai for years and decided to buy as rents were rocketing and they were forced to move out their home because of unscrupulous landlords.
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