French tax on holiday homes ‘could affect Britons’

Posted 05/07/2012

A new tax on holiday homes introduced by the leader of France Francois Hollande could have an impact on Britons.According to Andy Scott, premier account manager at foreign currency brokers HiFX, the move is likely to make it more costly to purchase property across the Channel.However, he stated he expects demand for a place in the sun to hold up despite the new tax introduced by the new president, who took over from Nicolas Sarkozy earlier this year.”We continue to see a steady flow of new and existing clients who are selling property there, be it their main residence or a second home,” said Mr Scott.He also noted exchange rates are favourable for Britons purchasing homes in France and will continue to be until the eurozone problems abate.Peter Elias, founder and managing director of estate agent Allez-Francais, recently noted the property market in France appears to be flat.Posted by Matthew Cameron