“Since the terms of Britain’s exit from Europe were announced, and the rights of the million Britons living in the EU detailed, there has been a flurry of enquiries from Brits looking to buy in France,” says Tim Swannie, Director of French buying agent Home Hunts.
The joint document from the EU negotiators and UK Government said both EU Citizens and UK nationals can continue: “to live, work or study as they currently do under the same conditions as under Union law.” UK citizens who move to France before Brexit day (29 March 2019) will have the right to stay in that country.
“Over the last week we have seen a huge increase of UK-based enquiries looking to buy a home in France compared to the previous weeks. We have had more than 150 requests over the last seven days from the UK and they continue to come in. This is unheard of for mid-December. These have been from three main groups: families looking to relocate and find a property with income, UK retirees who are looking to relocate to France permanently or a wide range of enquiries from UK clients looking to buy a holiday home so they have a base in France.
“The Riviera and the Alps, so far, have been most popular for those looking for holiday homes; Dordogne, Languedoc and Provence for those looking to live permanently, with a few on the Riviera. Paris has also seen a spike over this past week as well. House prices are attractive at the moment, and the banks are offering great interest rates,” added Swannie”
“Another incentive for high net worth individuals is the favourable change to the wealth tax (which reduces residents’ tax liability) that is effective from 1 January 2018. Many wealthy clients had ruled out the idea of living in France purely because of the idea of paying this annual tax on the assets for which they have spent their whole lives working.
“The planned changes will have a big impact on the market, particularly for retirees who have dreamt about ‘the good life’ in France but also for entrepreneurs, business owners and anyone looking to relocate.”
For further details, go on-line at: www.home-hunts.com