France continues to entice investors as the President announces no more taxes

Permalink: France continues to entice investors as the President announces no more taxes
by Kay Murchie

The new French President, Nicolas Sarkozy, is introducing tax breaks to strengthen the economy and as a result, property prices could soar. He has announced that there will be no taxes if an employee works beyond the 35-hour working week.

President Sarkozy has been criticised by the opposition Socialist party as they see it as a bid to undermine the laid-back working culture of France. However, the President is adamant that this will boost the unemployment situation and deteriorating economy in France.

The President anticipates that increased demand for housing will drive property prices higher and with people working and having a greater income, they will be in a position to invest.

Analysts warn that the changes will take some time to be put in place but there is still time to find a bargain in France, as long as investors move quickly. Lenders are launching lower mortgage rates to investors meaning a property boom is possible.

In addition, new budget airlines have been introduced, the country’s infrastructure is excellent, trains are fast and reasonably priced and health care is first class.

President Nicolas Sarkozy is the son of a Hungarian immigrant and a French mother of Greek Jewish origin, he was baptised a Roman Catholic and grew up in Paris.