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French Property with No Deposit to Pay

21st August 2009 | back to article listings BACK    print this article PRINT

The French property market has been very strong during the credit crunch due to their particularly careful mortgage lending based on affordability and also the recent 2009 tax incentives for investment in new build property which caused a mini boom in the spring.

Nonetheless, volumes are down and whilst prices in the best tourist locations are little affected some developers in good locations are beginning to do some quiet deals to increase sales.

I just saw a superb opportunity that our team had sourced on the west coast of France ( france.assetz.co.uk/property-detail.htm?propID=3128 ), in a great location, with a 49% discount, all legal costs paid, and the resulting net yield almost enough to cover a whole repayment mortgage, never mind the interest. In fact, the cash back provided by the developer is enough to cover the small capital repayment shortfall in the first five years or so and after that the rental income with inflation could well cover the entire mortgage interest and capital repayment on an ongoing basis.

Not only that but two weeks holiday use thrown in as well and a mortgage product that requires no deposit on completion. The bargains around the world continue to abound.

People looking for holiday homes in France will not find too many bargains that are easy to come by but the market is better than it used to be for buyers and anybody holding off previously has now got an opportunity to enter the market for pleasure or investment at prices not seen for some time - at least on selected developments.

This news story has come from the property investment blog by Stuart Law, CEO Assetz plc.

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