Expatriate Insurance News: Tax breaks 'boosting French property sales' -
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Expatriate Insurance News: Tax breaks 'boosting French property sales'

Expatriates are showing an increasing level of interest in French properties due to tax breaks introduced by president Nicolas Sarkozy.

This is according to French mortgage firm Athena Mortgages, which has revealed that 115,000 new residential properties were sold in France in 2010 compared to just 79,000 in 2009.

Indeed, the firm's director John Busby noted that "excellent tax breaks" and low interest rates are combining to prompt people to invest.

However, expatriates might want to check that their international health insurance is in place before they move overseas, just to give them that peace of mind during the move.

President Sarkozy's Loi Scellier tax break scheme allowed French buyers to purchase new build properties and offset 25 per cent of the value against their income tax liability.

However, this is being reduced to 20 per cent this year, which, overseas property experts predict, should see an improved opportunity for foreign buyers to get in on the market.

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