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Brexit and housing market

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by Joseph LEBLANC — Posted on 31 July 2016

Will rich British people land in the French-Riveira ?


Where British people will live and invest after the Brexit is unknown yet. For now a wait-and-see attitude prevails. British people are the most important community of investors in France but they will slow down as for now nobody knows if the taxation system will change, if a new tax will be created on top of the one implemented in November or if the French wealth tax (ISF) will actually disappear after 2017. British people, which alone represent 30% of the non-resident investors, are put on display and some will be forced to postpone the sale of their luxury houses in Saint-Tropez or of their prestigious villa in Cannes, Nice or in the vicinity. The various analyses carried out demonstrate that a large number of French expats who are executive employees in the financial field will follow their employer to France and buy a new luxurious property on the upper part of Nice or elsewhere in the Côte d’Azur. This climate of uncertainty offers a good opportunity to invest in France and more specifically in the French Riviera (St-Topez, Mandelieu, Cannes, Nice, Saint-Raphaël), where, despite the increase of the number of sales, the prices of luxury and prestigious properties did not increased too much since 2014.


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immobilier


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