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Expatriate Insurance News: Tax 'unlikely to deter expats'

Expatriates are unlikely to be deterred from purchasing a second property in France by recent tax changes.

This is the view of Stuart Law, chief executive of Assetz International, who told Overseas Property Professional that the impact is likely to be "minimal".

"Second home owners in France already pay taxes for local services and this new cost may be viewed by less wealthy homeowners as an additional burden, meaning they have less money to spend in shops, restaurants and local attractions when they visit," he remarked.

"However, the additional tax looks like it will be minimal and will not discourage buyers from purchasing a holiday home in France."

He explained that the new charge is only expected to increase outgoings by around €300 a year, which is minimal in comparison to the service charges and council taxes already paid by people moving abroad.

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