Barwa to sell Paris Convention Centre

Barwa International, Barwa Real Estate Company's global arm, has awarded a contract to a strategic investor to sell the Paris Convention Centre in Paris, France, at a cost of 456m euros, the company announced here yesterday. "The company has taken the decision of selling the Paris Convention Centre after considering many factors, one of which is the rise of price offered which resulted in a high investment profit for the company during the few months between the purchase and sale dates.

French finance minister says subprime crisis shows globalization will last

The value of assets fell sharply amid an increase in defaults of subprime mortgages in the United States. Investors began to pull funds and creditors started asking for more collateral to back their loans, causing a credit crunch. Lagarde said French banks have a "very limited exposure" to subprime products. The real estate market — which her government is trying to stimulate through tax exemptions on interest payments — should not be affected, she said. Keen to avoid any risk to France's fragile economic growth, she urged banks not to tighten credit for companies "simply because it is time for them to finance investment."

Propriété Direct France Launches New U.S. Website

With Nicolas Sarkozy taking over the French presidency and instituting several new property tax incentives, forecasters are predicting a major property boom. To encourage U.S. property owners looking for secure investments overseas, Propriété Direct France, marketer for the largest property developers in France, has launched a new Web site, overseas real estate in the French market and provides information about seminars held in the United States. Propriété Direct France also plans to increase the number of U.S. seminars to continuously inform potential buyers.

Rail boost for French property

Investors on the popular French market will no doubt be delighted then to hear that the country's famous high-speed rail system - TGV - is being expanded all the time and is set to cover even more of the country over the next few years. What is more, France can now be reached by rail from the UK via the Channel Tunnel, allowing for seamless almost door-to-door travel. According to the Daily Telegraph, "the development of France's high-speed rail network is opening up potential new markets for overseas buyers". A new service between Paris and Strasbourg was launched earlier this month and reportedly cut travel times between the two cities by half.

Property in France: Know what you want?

More Britons than ever are buying and renovating properties in France. Miranda Ingram, our French property expert, will be offering daily advice and leading debates on everything from developing in the Dordogne to living in the Loire.

Faster trains set to inflate Paris property market

A report earlier this year highlighted Paris' position as top city for property investment. The Emerging Trends in Real Estate® report by PricewaterhouseCoopers and the Urban Land Institute underlines the city's economic stability and sustainability, as well as placing Paris in first place for supply and demand balance. Unlike the UK, this balance means there's a good chance buyers will find the sort of property they're looking for, and sellers will typically not have long to wait when selling up. What's more, the plans of the new President, Nicolas Sarkozy, to provide tax breaks to encourage home ownership will surely have a positive impact on rent return and capital growth over the next few years.

French market 'primed for investment'

The property market in France is experiencing persistent development due to continuing demand from overseas investors, according to SPC Overseas. France's property prices were also identified as being traditionally cheaper than those of other European countries.

Property in France: A foreign invasion ?

How would you feel if your village in the heart of the Cotswolds, say, was invaded by Russians or Germans snapping up first or second homes? The local shop starts selling sauerkraut and kolbassa and the foreigners running the pub don’t speak much English but serve vodka to their compatriots who prop up the bar every evening.

French Property Demand Still On The Up

France is seeing a steady growth in its property market and this is due to both local demand and overseas investment, with up to 500,000 properties needing to be built each year for the next 10 years just to cater for this demand. Anthony Fernandes, Director of SPC Overseas says, “France has always been an attractive market for many from the UK. Traditionally, France has been seen as good value for money and UK holiday home buyers have been able to realise superb properties and grounds at a fraction of what the near equivalent would cost in the UK.

Many Russians buying medieval castles in France

Owning a medieval castle in Europe is too expensive for most Europeans, but it seems like a good investment for growing numbers of Russians. More and more are settling in France, where they have the choice of some 12 thousand antique estates. Several dozen Russians have purchased French castles in the past two years. Yet many of them choose not to save on taxes, keeping their luxurious homes for themselves alone, rather than opening them to the public.

Property in France: How to buy a house

If the property is to be leased, are you looking for a sound capital investment? Even if you're not domiciled in France, you may be subject to French income tax on letting income and, on the positive side, if your domicile fiscal is in France, your investment may qualify for tax relief. (If your annual rental income exceeds €23,000 euros, or more than 50 per cent of your total income, you will be considered a professional landlord.) Are you buying for business purposes? Your aims will directly affect your purchase, renovation and maintenance budgets.

French property owners should research tax

Investors in French real estate are being advised to make sure they fully research any possible tax implications. Property company Assetz are reporting that many people keen to buy real estate in France are not fully aware of the financial implications of property ownership and that new rules have recently mean introduced.

French Property - Looking to take a holiday in France ?

The Region: This huge and diverse region has a wealth of very different sights, cultures and cuisines to explore. There is plenty of variety to keep you occupied; from the rolling hills, medieval châteaux, prehistoric caves and rivers of the Dordogne, to the pine-covered sandy terrain of the Landes - the largest forest in Europe - and the endless stretch of sandy beach and dramatic sea which goes all the way down the Atlantic side of this region, down to the Pyrénées-Atlantiques. There is some great skiing to be had in the pyrenees during the winter, however this remote area is also beautiful to explore in summer.

Paris property may be up your street

INVESTORS looking for something out of the ordinary requiring a sizeable commitment may want to consider a specific investment in Parisian commercial property being made available from Bank of Ireland with a €50,000 minimum sum. A commercial property, 44 rue de Lisbonne, is being purchased with an initial yield of 4pc (which is considered high for Parisian levels). Situated in the heart of the Paris golden triangle (where 20 top companies have their headquarters), the office building comes with inflation-proof rent reviews.

French Anti-Rich Views Make Exiles Wary of Sarkozy Tax Cuts

Bloomberg) -- Nicolas Sarkozy is rolling out the welcome mat for thousands of rich French people who fled one of Europe's most onerous tax regimes. Few may heed his call.
In his first economic act as president, Sarkozy is pushing a tax law to lure back exiles such as rock star Johnny Hallyday, 64, and members of the Mulliez clan, who control the French retailer Groupe Auchan SA. The measure will increase exemptions on the ``fortune'' tax -- the bete noire of rich expatriates -- and cap the total individual tax rate at 50 percent of income.

Moscow court arrests Berezovsky’s real estate in France

A Moscow court has sustained a request the Prosecutor General’s Office filed within the framework of a newly-opened case against the self-exiled controversial Russian big business tycoon Boris Berezovsky to arrest the real estate he has rented in France. “The Basmanny Court has imposed a freeze on the Clocher de la Garoupe estate, including all of its buildings, plots of land, premises, parks and gardens in France,”