French Property Blog

New Sarlat portfolio

2012-02-11T05:31:00.000-08:00

Following the closure of the Alexandra Bonoron office in Sarlat, Allez-Français have personally selected around 80 excellent properties in the Dordogne & Vezere valleys to include within their portfolio.

These have been selected beacause of their special appeal, value for money, special character and attraction in the current marketplace.

These superb properties are now featured on the http://www.allez-francais.com/ website, and range from around 300,000 Euros up to just below 2,000,000 €.

Move to France 2012 - your New Year's Resolution

2011-12-30T05:17:00.000-08:00

The choice to retire abroad is one being made by an ever increasing number of Britons, and thanks to globalisation and the internet, it is now easier than ever to plan and finalise your dream of retiring abroad even if you’ve never visited your chosen nation before!

Information about almost every element of starting a new life overseas is now just a mouse click away, and suddenly the world really does seem like a much smaller, more accessible place.

The Britons who have already relocated overseas or who are in the active planning stages cite the following top 5 reasons for wanting to move abroad when they give up work…

1) Better weather
2) Less crime
3) An improved lifestyle
4) Lower cost of living
5) And lower taxes

1) In the areas that we cover, the Dordogne Valley & Poitou Charentes, the weather is significantly better than back in the UK. Shorter milder winters, and longer, warmer summers, but all 4 seasons.

2) Much less crime on this side of the channel, reflected in the much cheaper property insurance. Increasingly some Britons are citing their main reason for relocation abroad in retirement as wanting a safer place to live.

3) Everything from taxation to energy bills are rising, so as the cost of living escalates and job security falls dramatically, the lifestyle "enjoyed" by Britons is seriously declining. A recent quality of life index by uSwitch, advises that the quality of life in the UK is the worst in Europe… and that in France was No1.

4) Property prices & costs in France can be lower, and with the £ currently around 1.20 € now is a good time to be looking.

5) Thanks to the introduction of qualifying recognised overseas pension schemes (QROPS) by HMRC, those who are retiring abroad may also be able to improve their pension income by moving their pension to a regulated offshore jurisdiction where tax may not be charged, or may also be charged at much lower rates than in the UK. France although sometimes seen as a country of higher taxation, does offer significant possibilities for paying less Inheritance Tax (IHT) & also Capital Gains Tax (CGT).

Further information via sales@allez-francais.com

Focus still on the €uro

2011-12-14T23:41:00.000-08:00

The euro has fallen further against other major currencies as fears continue over the eurozone's future. The euro fell below $1.30 for the first time since 12 January. Against the pound, one euro bought 83.85 pence, while the pound was worth 1.19 euros.

Last week, 26 of the 27 members of the European Union backed new fiscal rules, with only the UK abstaining. But many fear that the budget pact will still not be enough to prevent more countries from seeking a bailout.

Traders are now watching closely to see what kind of interest rate Italy in particular will have to pay, particularly after Germany’s Chancellor Merkel ruled out an expansion of the European Stability Mechanism (ESM), the current Eurozone bailout fund. Whether they like it or not, Germany is running things in Europe at the moment (financially speaking) and that is causing some quite vocal animosity around the member states.

The ‘deal’ forged on Friday to create a more integrated fiscal situation in Europe is in trouble after it emerged that it would be hard to get it ratified in Sweden, the Czech republic, Holland, Denmark and Finland. Whether France will ever ratify the package is also now in doubt after France’s main opposition party rejected the deal. The problem there is that there is a very good chance this party will oust President Sarkozy in the April elections so Angela Merkel may find herself in a coalition of one.

Euro crisis

2011-11-03T09:55:00.001-07:00

Dismay, coupled with rage have been words used to best describe the reaction by France and Germany after they thought they had reached an agreement with Greece - the details of the Mer-kozy plan were yet to be fleshed out but it certainly didn’t involve delays, referenda or the potential for rejection by Greece.
Mr Papandreou has to face a confidence vote before he has the infamous referendum so that will make the markets uncertain for a while yet.
The Euro remains at a low ebb and that is fantastic news for anyone who wants to buy Euros. I would strongly urge buyers to make sure you do not fall into the potential trap of assuming that further Euro weakness will follow. The Pound has reached this level on three previous occasions recently, but each time has slumped back without making further headway and as we all know, history does have a habit of repeating itself.

A tale of Notaires

2011-09-28T03:38:00.000-07:00

We have been doing this job now for almost 10 years, so we think we know what is what.

When it comes to the final Acte de Vente (completion), we are in the hands of the Notaire, and like all walks of life, some are good and some are, well, pretty poor !

Currently we are wrestling with one such individual, and their "army" of staff who position themselves between you and Maître. This case has been ticking along without any problems and was due to complete on 30th September.

Because of inheritance / succession problems, the clients wish to purchase via a S C I (property company), so that they can leave shares (the property) to who they wish, rather than having succession laws imposed upon them.

The Notaire is insistent that the S C I must be created a week or so ahead of the Acte de Vente, even though we have previously done this on the same day as completion. (They have known about everything required since mid-April, and it is now that they start raising objections).

Following several phone calls, they have finally backed down, and completion can now take place on the same day as the S C I is created. Good news, BUT, they now cannot make the 30th September as their diary is full !!

The Notaire is also going on a weeks holiday between 3-9th October, so the first appointment available is 12th October.

Needless to say, we have well and truly marked the card of this Notaire and won't be using them in a hurry.

Meanwhile, another sale has bumped along and hit a few problems along the way. This time the Notaire involved, (a different one), has been proactive and has overcome the problems, much to everyone's delight. There is light at the end of the tunnel....

Peter Elias

www.allez-francais.com

New Capital Gains Tax rules - impact on some vendors

2011-09-18T00:58:00.000-07:00

It is not yet widely appreciated, but there are significant changes planned for Capital Gains Tax rules for owners of a maison secondaire in France.

Previously, after a 5 year qualifying period, owners were allowed a 10% reduction in their liability, for each complete year of ownership, until after 15 years the property was deemed to be free of tax. The 15 year rule has now been extended to 30 years with smaller allowances in place. The new rules apply to all sales concluded after 31st January 2012.

If the property is owned by a SCI (property holding company), the rules have already changed, (effective from 25th August 2011).

A summary of the rules is aavailable from us upon request. You may need to discuss the implications of the new rules with us.

We envisage that some owners, especially those who have owned a 2nd home in France since prior to 2007 will have financial implications as a consequence of this legislation. Those who have owned for even longer periods may have believed that they were now outside the Frencg CGT calculations.

There could be a significant opportunity for owners to sell prior to the 31/01/2012, which generally would require a sale to have been agreed, (and a compromis de vente signed), by 31/10/2011.

Peter Elias (Agent Commercial) http://www.allez-francais.com/

2nd homes news

2011-09-07T01:23:00.000-07:00

French Ministers have got their knickers in a twist again over changes to treatment of 2nd homes.
Followers of the Blog may recall the climb-down earlier this year when a new proposed tax on 2nd homes was abolished before it even became law. Now it looks likely that recently proposed changes to capital gains tax (CGT) on 2nd homes will be watered down to appease members of the ruling UMP party.
Now, it is likely no CGT will be paid on properties held for more than 30 years, an extension of the current 15 years and a considerable change from the proposals which saw no advantage to holding a property long term.
It is also proposed that the calculation of CGT will change, the finer details are still being thrashed out, probably based upon inflation over the period of ownership and with an increase in social charges.
Currently capital gains made by private individuals on the sale of a property that is not their primary residence are subject to a withholding tax of 19% for EU citizens, to which is added the social security contributions (for French residents).
The capital gain is broadly the difference between the original purchase price and the sale price, less any qualifying expenses. However, a reduction of 10% per year beyond the 5th year is aplied to the gain calculated. Thus, sales made after the 15th year of holding the property are fully exempt from CGT. This has encouraged owners to keep their property for 15 years to benefit from a CGT exemption.
Prime Minister Fillon recommended removing the 10% reduction per year to tax gains actually realised on property, after neutralisation of inflation. The capital gain would be calculated based on purchase price plus inflation observed since the acquisition date.
It is likely that the new regime will apply to any sales contracts signed after 24th August 2011.

Peter Elias http://www.allez-francais.com/

The property market 2011

2011-09-04T01:01:00.000-07:00

No doubt, since 2007, the property market has been tough, both here in France and globally.
But having survived during these difficult years, I have become convinced that the only reason that a house does not sell, even in troubled times is it’s price.

I have lost count now of the number of owners who now admit that my original estimation was in the right ball park, and that their « valuation », which is normally based on original cost + cost of all works carried out + x%, was shall we say optimistic.

Vendors often want to build in a « margin » for negotiation as well, and this of course inflates their house price even further.

Beware ! When you are selling a property you will come across 3 types of agency, the first, stroking your ego by agreeing a high valuation for your property, in order to ensure that they get the mandat. The second, who will look to sell your property quickly, and give a low valuation, and perhaps try to tie you into an exclusive mandat deal, and the third who will try to give you a realistic valuation of what you can expect to get in the current market.

Don’t forget that if you bought between 2000 and early 2007, you purchased in the boom years, when Brit buyers were following the trails of « A Place in the Sun » and houses were selling, literally, like hot cakes. Since then, the market has changed dramatically, UK buyers are largely absent, and the young French buyers don’t want to live in rural France, they want to live in the towns and cities.

We find that the most interest that we have for a property is during it’s first 6-8 weeks on the market, known in marketing terms as the Product Life Cycle (PLC). It is crucial to get the pricing right during this early phase of the marketing, as this represents the best opportunity to sell the property.

After the 6-8 week period, the property has reached « maturity » in this cycle, through it’s exposure on the internet and enquiries received. After that, it is a slow, steady decline, until some new impetus is injected, (in the form of a price reduction), when the cycle starts again on a smaller scale.

Therefore, you us to give you an accurate guide to pricing your property from the outset, and please don’t be tempted to try to factor in what the house « owes » you, or that margin for negotiation. At the end of the day the only real driving force for a sale in price.

A house in poor condition, or bad location will sell if the price is right. A beautiful house, in a great location won’t sell if it is above the market value in a difficult market.
Peter Eliashttp://www.allez-francais.com/

Changing markets

2011-08-24T07:04:00.000-07:00

Wealthy North European buyers from Germany, Norway, Belgium and the Netherlands are moving into the French property sector, with British and Americans clients largely absent.

The turmoil in the equities markets is driving buyers back to a safe haven they trust … namely, property, and this coupled with historically low interest rates throughout the Eurozone, has created a rise in demand. However there is still a very cautious approach by British & US buyers, who remain conspicuous by their absence, principally due to a lack of confidence in their respective economies and currencies.

Peter Elias

http://www.allez-francais.com/

England - summer 2011

2011-08-12T01:28:00.000-07:00

This picture says it all.

The recent rioting in England has made us appreciate just how lucky we are living here in France.

The images of vandalism and youths looting shops has not been a great advert for the UK, especially with 2012 being Olympic year.

No wonder the kids of today don't respect other citizens and their property, they clearly don't have any respect for themselves.

Rural France seems an awful long way away from what is going on back in England at the moment.

Many tax changes

2011-07-31T00:09:00.000-07:00

2011 is proving to be a good year for those people living in France as far as taxes are concerned, with significant changes already made or planned.

The latest changes are concerning UK expatriates who have been affected by the UK's 90 day residence rule. With effect from 6th April 2012, most expats will now be able to spend up to 119 days in the UK, and still remaon a non resident in most cases.

French Wealth Tax has also seen significant changes, with the threshold increased from 800,000 Euros to 1.3 million € (effective 2011), and coming soon, just 2 bands of tax 0.25% between 1.3 and 3 m €, and 0.5% for above 3 m €, (effective 2012).

Succession & Gift Taxes have also changed.

Coming to France offers many financial planning opportunities, especially via QROPS & QNUPS arrangements. The benefits include examption from all UK taxes on death if you have been non UK resident for 5 consecutive years, (a potential saving of 55%). These plans also avoid French succession law and offer other additional benefits.

As usual, new tax laws bring with them new opportunities to plan your finances, (different and better). We are able to offer the best quality Independent Financial Advice via our dedicated contacts, (for whom we are registered introducers).

Peter Elias (Agent Commercial) http://www.allez-francais.com/

Exclusive mandats

2011-07-17T05:16:00.000-07:00

One of my pet hates is French agencies using “sole agency” on their properties without explaining the potential outcome to their clients, (the vendors).

In the Poitou Charentes, there is one well-known agency who is particularly active in this respect. There is also one Notaire who is also into the exclusive agency business.

What does it offer for the vendor – well, not a lot apart from a number of promises by the agent, which they will struggle to keep. Normally this is based on increased advertising and internet presence. In practice, it means that the agency can sit back a bit in the knowledge that they have blocked the sale of the property by any other agencies for a period of at least ¼ of the year, sometimes even longer.

The agent that I have in mind, currently has 34 properties advertised as sole agent, even though I have seen a registered mandat with another agency, created before their exclusive mandat, that is still valid. So that could prove interesting !

This agency takes out a small 2 property advert in the French Property press, so over the period of a quarter only 6 out of those 34 properties will benefit from this “high profile” marketing.

In the Dordogne valley, if we enter into an exclusive agreement, it is very much on a “gentleman’s agreement”, and the vendor only signs a non-exclusive mandat, there being trust between both parties that the deal will be honoured. In return we are able to arrange floor-plans and elevated photography to make the property really stand out in the market place. We think this added-value is much better than an empty promise.

Rarely to vendors know how to get out of these exclusive mandates, which normally requires a registered letter (AR), towards the end of the 3 month exclusive period as a minimum, to renounce the contract. Mandates for the purchase of French property are often signed in haste by keen sellers and buyers and repented on at leisure. They are a fruitful source of work for litigation lawyers in France and regularly keep the French Appeal Courts and Supreme Court occupied. UK buyers and sellers are at a big disadvantage as the system in England is not the same and they do not understand what they are signing. So, you have been warned.

Negotiations

2011-07-10T01:26:00.000-07:00

OK, the market is pretty static, both in the UK and here in France, but recently I have encountered clients (buyers), who have been advised by an agent not too far from where we operate, that buyers should negotiate hard, typically 20% below the asking price.

It may well be that in certain circumstances, when someone is desperate to go back to the UK for example, that the vendor may listen to such an optimistic offer. After all, the vendor may have purchased their property when the £ / Euro value was around 1.50 against the present 1.12. The currency movement covers a 25% gain during this period, giving some vendors a lot of flexibility.

You have to question the professionalism of an agent advising clients in this way. They are opening the door for wild offers on any properties that they have for sale, something their owners will not thank them for. Unless of course, that as part of their strategy they over optimistically inflated the asking price by 20% in the first place.

My advice, would be to steer clear of such agents. By all means listen to what your agent has to say, and they will often know when a vendor is negotiable or desperate to sell, but the latter situation is the extreme rather than the rule.

For our part, we have successfully negotiated properties priced between 350,000 and 500,000 recently and the offers have all been around 5% below the full asking price. So the buyers have gone away happy, as have the vendors.

Peter Elias (Agent Commercial) http://www.allez-francais.com/

Good news on 3 fronts

2011-07-03T04:26:00.000-07:00

The French Government has announced that access to the French Health service will now be available for "early" retirees – a reversal of the previous legislation that caused many people caught up in this trap a lot of problems. Thus the gap between the expiry of reciprocal health cover provided by the S1, (issued for up to 2 years based on N.I. contributions) and the S1 issued on reaching UK retirement age has been completed.
This reverses the decision made back in 2007. It means that, providing contributions are made to the French Health Service ex-pats will be entitled to exactly the same cover as French Nationals.
The French Government previously had announced the abandonment of the proposed new tax on foreign owned holiday homes – “maisons secondaires”. This U-turn came about when they realised that it impacted significantly upon the many French citizens working overseas and how they would be affected by such a tax. With an election scheduled for 2013 the Government cannot afford to risk upsetting these potential voters.
Special Offer – 300 Euros refund !
To qualify for this refund, you need to spend a day viewing with us (normally 4 or 5 properties), and then purchase via ourselves. Full details on request via our websitehttp://www.allez-francais.com/

Tax on holiday homes in France scrapped

2011-06-20T06:26:00.000-07:00

News update - The proposed tax on holiday homes in France has been scrapped by the French government. The decision to scrap the tax was taken, we understand, over the weekend at a meeting between President Nicolas Sarkozy and his Minister, François Baroin.
The government had clearly not thought through very well. It certainly smacked of a last minute concept, thrown into the mix of the finance bill during its passage through parliament in order to help make the sums add up on the reduction in the wealth tax.
Many commentators were of the opinion that the new tax would have infringed EU regulations, and was also contrary to a number of taxation treaties France has in place with other countries.
According to the French government, 363,000 owners would have been liable for the tax, of which around half would have been UK citizens.
There was a huge misunderstanding about just how much it would cost. We received many enquiries ! In fact the impact was going to have been pretty small. For the vast majority of those affected by it, the tax was never going to cost more than a few hundred euros a year.

Reports, reports & more reports

2011-06-12T00:20:00.000-07:00

Most readers will know that in France when you buy a property, you receive a dossier expertise made up of numerous reports carried out on the property. Very similar in fact to the HIP reports introduced in the UK.

I have never been a great fan of these for reasons I will outline below. But clients do sometimes misunderstand them and get very wound up about their contents.

A few examples :-

Energy reports (DPE) – whilst accepting the concept behind these reports, if you want character (such as exposed stone walls), you are never going to get a property featuring highly on the rankings of this report. You shouldn’t need a report of this detail to learn that by adding more layers of insulation and installing double glazing that you will improve the energy rating of the house !

Electrical reports – again, I am all for highlighting where there a safety issues, but the standards to which properties are now measured are for new-builds, not properties that were rewired 15-20 years ago with perfectly safe systems, that work.

Drainage reports – we believe that over 80% of rural properties don’t have a fully conforming fosse septique. The standards change on a regular basis, so one installed 5 years ago, may not meet today’s compliance standards. Often it is just a case of adding a new grease trap, or something else minor, but a “damning report” sets the alarm bells going for a potential buyer.

Woodwork reports – principally seeking termite activity, which is a real problem. We have just lost one sale where the report mentioned carpricornes, (a form of beetle), and the buyer got cold feet. We subsequently found out that the capricornes were not active (i.e. dead) and were actually old traces in old beams removed from the house and stored in an old barn away from the house on the floor. But the damage had been done, and the buyer had pulled out !

The reports are useful, if used correctly. They can be a good tool to negotiate a reduction in price for example. But I would hardly ever find these reports a good source upon which to base a decision to buy or not.

Bone weekend.

New tax for 2nd homes

2011-05-29T01:53:00.000-07:00

A new Tax on second homes is planned for 2nd homes owned by foreigners in France.

From 1st January 2012, non-residents who own a second home in France will be charged an annual tax of 20% of the cadastral value of the property. Clarification is being sought of what comprises the cadastral value, but it is roughly equivalent to the Taxe Habitation.

We are trying to establish whether there are any exemptions, and understand that expatriates overseas for professional reasons will not be affected.

One client got in touch this week about the new tax to find out how it would impact upon their purchase. Having explained that a typical Habitation Taxe bill is perhaps 400 Euros, the sum of 20% of that, i.e. 80 €, is hardly going to be a deal-breaker, although it would be better of in your pocket !

It will be interesting to see if anyone challenges the legality of raising a tax solely on foreigners .... so watch this space.

French Tax Reforms 2011

2011-05-16T08:51:00.000-07:00

The Finance Bill covering the latest tax reforms in France was presented to the Council of Ministers on Wednesday 11th May 2011.

Amongst the measures proposed is a new tax on second homes owned by foreigners :

From 1st January 2012, non-residents who own a second home in France will be charged an annual tax of 20% of the cadastral value of the property. This is like a second Taxe Foncière.
Expatriates overseas for professional reasons will not be affected.

Some good news - Wealth Tax

Abolition of the Bouclier Fiscal, except for people on very low incomes whose Taxe Foncière on their main home exceeds 50% of their income. The threshold is increased to €1.3m. Wealth between €1.3m to €3m taxed at 0.25%. Over €3m taxed at 0.5%.

The declaration of wealth tax is usually due by mid June, but the deadline is being extended to end of September.

Has the £ turned the corner ?

2011-05-10T23:50:00.000-07:00

The Euro has seemingly, at last, taken a long overdue fall after surging 9 cents against the pound this year. The newswires are supposedly full of stories of the Greek situation. Further bail-outs, interest rate reductions, debt restructuring and even a full scale Greek exit from the Eurozone are the possibilities to consider this week.

The net result is the downtrend in £ / € has stopped, and is perhaps now in reverse, although we are in a volatile market, but the £ has moved higher so far reaching €1.14 from €1.10 last week.

There have been previous crisis moments, with Greece, Ireland and Portugal, but the € has to date managed to overcome the crisis thanks to bail-outs & increased stability funds. So, it pays to be cautious in betting against the Euro.

Unfortunately, as ever Mervyn King is talking the £ down at every opportunity, so upward moves in the pound are limited in nature.

So what does this mean for you ?

EUR Buyers

Orders are recommended between €1.14 and €1.15. Big resistance (a ceiling) comes in at €1.15 and €1.16. A fall back to €1.12 levels would concern us and possibly signal a resumption of the downtrend to €1.09/€1.10.

EUR Sellers

The best levels in over a year have provided a fantastic window of opportunity for Euro sellers. £ / € can turn quickly and reverse moves in a matter of days. This happened previously around New Year 2010 when the rate went from €1.15 to €1.19 and back to €1.15 in roughly 3 weeks. This was also evident lately in the move from €1.14 to €1.10 to €1.14 in 2 weeks. A stop loss order above €1.15 would guard against a move which could go another 4 cents higher.

As ever, we recommend that you speak to our dedicated currency dealers for the best information.

Please contact me initially by e-mail sales@allez-francais.com

House prices - observations

2011-05-09T05:15:00.001-07:00

Figures have recently been released by the FNAIM, (French Estate Agency body), and it makes interesting reading as there are quite noticeable variations throughout France.

I have chosen to focus on the 2 areas that our business deals with, namely the Poitou Charentes and also the Dordogne Valley.

Over the year to 31/3/2011 prices fell in the Poitou Charentes by around 1.3%, but the fact that the market is falling there is highlighted by the Q1 figure for 2011 which comes in at minus 2.6%.

Further south, in the Dordogne valley the picture is much more positive - with the year to 31/3/2011 showing +2.2% in the Limousin, +3.9% in the Midi Pyrennees, with the Aquitaine returning a negative 0.8%. (However the Aquitaine is showing +3.1% for Q1 for 2011).

The recent fall in the £ against the Euro means that some ex-Pat vendors looking to return to the UK are flexible on price, so the indications are that the market has bottomed and this should be a great time to be buying French Property.

For all of our properties please visit http://www.allez-francais.com/

Win a stunning riverside property - competition

2011-05-06T03:08:00.000-07:00

2 houses, 3 kitchens, 3 moorings, 3 acres, 4 reception rooms, 6 bedrooms, 6 bathrooms, planning in principle for 3 more properties... the list goes on. It could be your's for just £25 !

Some previous clients of Allez-Français have decided to launch a competition rather than sell their lovely property using a traditional agency.

The property is set on the banks of the Charente river near the town of Cognac, SW France. Built in the 1840s by Hennessey, makers of world famous Cognac, it was used for over 150 years to store its produce. Horse-drawn barges would transport barrels to and from the property with those of exceptional quality remaining over 50 years whilst their contents matured and developed further.

If you are wondering what some of your options might be; the property offers a multitude of exciting opportunities and subject to planning permission where necessary, here are some suggestions:

1. If your dream is to move to a warmer climate, be mortgage free and live in a lovely location, then this could be just the place for you, your immediate family and even your extended family.

2. It was recently registered for self-catering holiday accommodation and B&B and though it is not necessary for you to do this, if you did wish to generate income this way, registration is a simple procedure and the local Tourist Office is very helpful.

3. The property has achieved as much as £3,000 per week through tourism.

4. If you would like to advance the property further, outline planning permission in the form of a Certificate d'Urbanisme has been granted to develop part of the buildings into 3 more dwellings - some 300m². When constructed this additional habitable space could be offered as tourist accommodation, sold, or greatly increase what is already a substantial family residence.

5. The residue of unmodernized chais, some 960m², presents many further possibilities, for example: vehicle and boat storage; kennels; workshops (there is also three phase electric power); indoor swimming pool, tennis courts or other sporting activities - it is even big enough for an indoor 5 a side football pitch; gymnasium; gallery; conventions; or even more dwellings.

6. If it is not possible for you to live in France in the immediate future, there is a ready market for longer term rentals in the region

For further details drop me a line and I will send you the link to the competition. Contact sales@allez-francais.com

Market update - 1st May

2011-04-30T23:54:00.000-07:00

As we enter May , I thought that it would be useful to have a look at how the market has progressed since the start of the year.

Certainly, there is a bit more activity at the higher price ranges, especially 250-400k, but in reality, the market is still sluggish. The weak £ is not helping UK buyers into the French market, although the strong Australian $ has resulted in a noticeable increase in enquiries from down under.

For me, this is still a buyers’ market, with plenty of choice out there, and a considerable number of properties very negotiable.

This does beg the question why so many vendors insist on putting their houses on to the market at inflated prices, even for a few weeks to “test the market”. They insist that you can always come down in price and not go the other way, agreed, but you are probably going to miss maximising the impact of your property when it is fresh to the market.

I have just seen one property come down from near 700,000 Euros, (with another agent), to 550,000 within one month of coming to the market. For me, it is still overpriced at this figure, but the owners have spent more than that renovating the complex. Pricing property doesn’t work like that. A house is worth what it is worth, not what it owes you !

Bon weekend.

Smoke alarms

2011-04-25T23:57:00.000-07:00

The installation of smoke detectors is going to become a legal requirement in all French homes from 2015. The new regulations recently issued by the French government apply to both existing homes as well as new build properties.

There has been some confusion concerning who has the responsibility for the installation of the alarms in rental properties, but it appears to fall upon the occupant of the property, except for seasonal and furnished lettings. Once the installation has been carried out, the owners / tenants need to notify their insurer.

It is perhaps surprising that currently only a minute percentage (around 2%) of the 33 million properties in France are equipped with a smoke detector. This is a measure with a long lead in time, as the legislation was first passed in the French Parliament in 2005.

Early drought in the Poitou Charentes ?

2011-04-22T04:49:00.000-07:00

We seem to have by-passed Spring and gone straight into Summer with lovely temperatures throughout the middle of April and virtually cloudless blue skies.

But this is coming at a cost since 8 departments have seen the imposition of summer-style water restrictions.

Those worst hit by the drought are Seine-et-Marne, Essonne and Val-de-Marne which are on maximum restrictions with water even being banned for irrigating agricultural crops. Also affected are the Deux-Sèvres and Charente-Maritime where prefects have asked consumers and producers to reduce their usage. The neighbouring Charente and Vienne are also on a low-level alert.

We have had virtually no rain now for three months and there is a real risk of drought if there is no rain in the weeks to come. The forecast is less favourable for the Easter weekend, but not a lot of rainfall predicted.

Property with the WOW factor

2011-04-11T07:15:00.000-07:00

It is rare for me to get too excited about a property - we see so many during the course of a year. It is unheard of for me to go overboard about a modern property - until now !

A fabulous ensemble made up of a stunning modern property built in 2006 and an ancient fully restored Maison d’Amis, set in one of “Les Plus Beaux Villages de France”.

The principal accommodation is approached from a gravelled drive with ample parking for several cars. The entrance to the house is through a choice of double patio doors into the 72m² lounge and dining area. The 2 large sliding windows (into wall cavity) lead onto the sun terrace with spectacular views. Flooring is quality wood laminate and there is a “Jotul” wood burner. There are also two oil filled electric radiators and satellite TV installed. The stylish 27m² kitchen is open to the lounge and has a feature island, and includes quality white goods including a dishwasher, washing machine, American fridge / freezer with ice-maker, electric oven, and microwave. The floor is the kitchen is a lovely ceramic tile. There is an electric oil filled radiator and a cavity sliding window to the terrace.

The guest bedroom is 10.24m² and has a wood laminate floor, oil filled electric radiator and a double window. There is a mirror fronted double wardrobe and chest of drawers. The guest shower room is 6m² with ceramic tiled walls and wood laminate floor. Comprising of a large glass shower cubicle, a modern wooden vanity unit, mirror fronted storage system, extractor fan and heated towel rail.

A modern spiral staircase from the lounge to a mezzanine office / 3rd bedroom area of 15m². Having a broadband connection, in-built storage area, electric convector heater, velux window with blind and fitted carpet. A 4m² shower room is adjacent to this with ceramic tiled walls and flooring. There is a large glass door shower cubicle, WC, glass and chrome vanity unit, extractor fan, heated towel rail and mirror fronted storage system.

Also on the 1st floor is the 16 m2 Master bedroom with it’s own 6m² walk-in wardrobe. There is a fitted 1.5m x 2 m bed, velux window with blind, fitted carpets, chest of drawers and electric convector heater.

The whole property is double glazed, and furniture is available by negotiation. Outside there is a superb sun terrace 125m² with great views, plus a 3m80 x 3m40 natural stone floored pool and outside shower.

The Maison d’Amis / rental cottage is well away from the main house and has two floors each of 30m². and can produce seasonal rental income of 10,000 Euros. The accommodation consists of on the ground floor a kitchen/lounge/dining area with electric hob, microwave / combi oven, dishwasher, ceramic tiled floor, oil filled electric radiator and encased 50 litre hot water system. A glass fronted door leads to the outside decking and barbecue area. There is an integral wooden staircase leading to the bedroom with built-in wardrobe, satellite TV and en-suite shower room.

There is outside access to the pool area from a glass panelled door. There is a block built and ceramic tiled pool with decking and outside shower, benefiting from more fantastic views. The whole is of this property is also double glazed. It is maintained in 1st class condition and has a large garden amounting to 6,600m², very rare in a village such as this. The situation within one of “Les Plus Beaux Villages de France” does qualify this property as something extra special. With the 2 beautiful swimming pools, and rental income potential, it is something that will have great appeal. No work required at all – just bring your suitcases. Just 30 minutes from the recently opened Brive / Vallée de la Dordogne airport.

Priced just in excess of 500,000 Euros

Top Choice

2011-04-03T00:52:00.000-07:00

A revealing article in the French magazine "Télé-Star" has been followed up in a newspaper article in "La Montagne", highlighting the fact that the parents of Katie Middleton own a house in the Dordogne valley, seen as a great escape, and visited several times by Katie.

Until now, a well-guarded secret, the property is close to Beaulieu sur Dordogne, a beautiful market town with several restaurants and of course the River Dordogne flowing through it.

Next month sees the famous "Fete de la Fraise", since Bealieu is the capital of the strawberry growing area, when there will be a crowd of around 10,000 to see the event.

The Middleton's have used the new Brive / Vallée de la Dordogne airport, great value at 59 Euros each way, including baggage allowance and hospitality on the flight.

The Limousin has fantastic investment potential and has been featured recently in most of the major Sunday papers. In a recent survey carried out by Channel 4's "A Place in the Sun" this region was ranked as one of the top 5 property investment destinations in the world ! The new airport Brive / Vallée de la Dordogne will increase property values in this lovely picturesque area.

New technology - new energy

2011-04-01T00:05:00.000-07:00

The terrible situation in Japan has the entire world looking at how it produces energy, both for today, and of course, in the future.

France is heavily dependant upon nuclear power, and has invested heavily in wind turbines, "éoliens", but they have many critics due to their lack of power when there is no wind, or indeed too much. Indeed, with an estimated life span of 20 years, it takes them 15 years to break even, so there is a period of just 5 years when they are profitable.

The impact that they have on the landscape divides opinion, but they do have a negative impact upon house prices.

In the Corrèze there is just one wind farm, at Peyrelevade, producing 9 MW of electricity. In comparison, a large solar powered plant has been built at Saint Priest de Gimel, producing 24 MW of electricity.

Given the low impact on the surrounding area, and the excellent sunshine records in south western France, surely this is a better way to proceed.

Peter Elias (Agent Commercial) www.allez-francais.com

Reduced by over 200,000 Euros

2011-03-27T01:42:00.000-07:00

A fantastic property existing of a main house with a guesthouse and a swimming pool , this all on land of about 5 hectares.

The main house has an elevated ground floor: covered terrace of 28 m² , giving access to the entrances of the house and a guest room (18 m² with bathroom and separate toilet). Kitchen of 28 m², living room of 22 m², dining room of 45 m² , a study area of 26 m², a mezzanine of 10 m². Laundry room, side kitchen, toilet and cloakroom. A large, tiled terrace facing south of 90 m² overlooking a charming inner court yard.

First floor: A room of 34 m² with private bathroom, toilet and dressing, a room of 11 m² with private bathroom and toilet, and 2 more rooms of 10 m ², bathroom, separate toilet and hallway.Basement: cellar of 100 m² with a garage, cave and toilet.

Guesthouse: Ground floor: A terrace of 50 m² of which 30 m² covered. Kitchen-dining room bathroom/toilet and living room.

First floor: 2 rooms and separate toilet.Out buildings (450 m² ground floor 167 m² upper floor). A closed barn, a closed hangar, sloping roof and a little tower.

A swimming pool of 10 x 5m, heated and salt, finished of according to security norms. Solar shower, 105 m² beach and local installation. An area of approximately 5 hectares of which 3 hectares is forested. Superb location with all privacy, fantastic views and no direct neighbours.

Link http://www.allez-francais.com/details.php?pty_id=1279

Mandates, bon de visits & paperwork

2011-03-20T06:45:00.000-07:00

Before an agent is able to market the property in France on behalf of a client, they need to have their formal consent, and this normally is covered in the “mandat de vente”.

This is normally, but not always, on a non-exclusive basis, allowing the vendor to sell privately or via another agency. This document details the vendors, the property to be sold, the asking price and the agency fees.

When as a buyer, you view property via an agency, it is standard practice to sign a “bon de visite”, in fact it is a legal requirement to do so. This document lists the buyer’s details, summarises in brief the properties to be visited etc.

It demands that the client will deal with the agency for any negotiations for the properties listed. This ensures that the agency will be paid any commission that they are due resulting from the sale.

Sometimes, buyers try to be devious, and go behind the agents’ back, in an attempt to save fees. They are still liable if they are taken to task, and if the buyers is proven to be an accomplice, they are also liable.

This was the recent decision of the French Supreme Court (Cour de Cassation) in a case that came before them. They found that the estate agents had been formally instructed by the sellers on the sale of their property, for which they had a written contract (mandat de vente). The buyer and vendor tried to avoid the agency fees and deal directly with each other, with the vendor even cancelling the mandat. Although the contract had been terminated by the seller, the terms still required they pay the agent’s commission for potential buyers introduced to them up the end of the contract period. The commission continued to be payable for a period of 18 months for any clients who had been introduced to the seller up to expiration of the contract. By dealing directly with a introduced by the agent during this period, the court deemed that the seller had committed a breach of contract.

The commission payment due under the contract was 15,400€ and as the court considered that this sum was not excessive and reasonably justified, it was due by the seller.The court also examined the responsibility of the buyer in this particular matter. It found that they had dealt with the seller directly less than 2 months after having been introduced to the property by the agent. The court ruled that the buyer could not escape their responsibility for the commission by arguing that they were not party to the contract between the seller and the agent, since they had signed a ‘bon de visite’ which bound the buyer to deal irrevocably with the agent in their dealings with the seller. On this basis the buyer was equally complicit with the seller in defrauding the agent of their commission. As a result, the court found that the buyer and vendor were equally liable for the payment of damages.

Don't try to cut out the middle man - you have been warned !

Peter Elias (Agent Commercial) www.allez-francais.com

D P E reports - a waste of time & money

2011-03-03T01:35:00.000-08:00

For several months, I have been very suspicious about the validity of some of the DPE (energy) reports that we have been receiving on our houses.

Some properties that are very well insulated do not come out very well in the survey, whilst some totally unrenovated properties seem to escape the wrath of the technician carrying out the diagnostic report.

We have 2 absolutely identical properties with differing reports, but in a recent independent survey, a company asked 16 diagnostic experts to visit 4 houses, and only 1 of the houses was classified in the same band by all experts. 2 properties, (50% of the sample), were actually classified under 3 different bands, by these so called experts !

Given that these reports will dictate the level of 0% finance that could be available on a property, these are pretty serious findings, but do not really surprise me.

For the full article (in French) follow this link
http://www.quechoisir.org/immobilier-logement/achat-vente-travaux/communique-dpe-des-diagnostics-toujours-aussi-peu-performants

Peter Elias (Agent Commercial) http://www.allez-francais.com

France - a low rate tax regime

2011-02-27T01:38:00.000-08:00

Some people assume that France is a country of high taxation. It can be, be it can also be one of low taxation if you are smart.

Looking at Capital Gains Tax for example on property - if the property has been owned by you for fifteen years then no capital gains tax is payable on sale, even though it is not, and may never have been, your principal home. This is a massive advantage in comparison to UK rules.

Even if you have only owned a property for between 6 and 15 years an allowance of 10% per year of the gain is granted. Thus, as an example, if you sell a property after having owned it for a full 10 years, you will be granted an allowance of 50% against your liability to capital gains tax. Unfortunately, no exemption is available for a sale in under 6 years.

In addition, no capital gains tax is payable on a property owned by a non-resident of France, provided you can demonstrate / prove that you have previously been fiscally resident in France for a continuous period of at least 2 tax years.

Ex-Pats often consider that the French get preferential treatment in some areas, but non-residents are not subject to the 12.3% social charges element of capital gains tax, that French residents have to pay under any circumstances. So there is some good news – and France can be a low rate tax regime !

Peter Elias (Agent Commercial) www.allez-francais.com

Financial matters

2011-02-24T07:08:00.001-08:00

We have been living in France for ten years now, advising clients as they consider a new life on this side of the Channel. We work with highly qualified IFAs who have offices in France – so their help is never far away, wherever you’re setting up ‘chez nous’.

We see some clients make mistakes in their financial plans, purely by not seeking professional advice before they move. Even then it is not too late, as some adjustments can often be made. Also, for ex-Pats returning to the UK, there are often planning tools that can ensure a better financial outlook for their return to Britain.

Lump-sum investments and Pension plans are worthy of special investigation, and we can assist with QNUPS, QROPS - If you are retiring in France, your pension arrangements are of utmost importance, don’t risk not making the most of the hard work that you put in during your working life.

Getting in touch to discuss how our preferred advisers can help could make a massive difference to your finances. Check-us out today !

Peter Elias (Agent Commercial) www.allez-francais.com

Bargain basement price - 75,995 Euros

2011-02-23T05:51:00.000-08:00

This stone built 2 bed house is situated in a quiet and secluded hamlet within the south Deux-Sevres countryside and is a couple of minutes drive from the picturesque village of Chenay.

Ready to move into and with easily managed gardens to the front a rear. A great buy.

Peter Elias (Agent Commercial)

House with 2 gites and beautiful lake

2011-02-20T00:06:00.000-08:00

It is not often that you can truly describe a property as outstanding, but here is one....

In a location that most can only dream about is this beautifully renovated farmhouse and cottages overlooking a valley and it's own small lake. This stunning house sits behind a stone wall affording privacy to the houses and garden. Open the remote controlled gate and you will see why it’s location alone sells this property. The quality of the renovation of the 3 houses and the views from the gardens will further delight you.

Set in probably the most attractive village of the Pays Melloise this property is superb value at 416,000 Euros. Link http://www.allez-francais.com/details.php?pty_id=1326

Peter Elias (Agent Commercial)

The dreaded DPE (energy) reports encore !

2011-02-08T02:23:00.000-08:00

Anyone that is interested in French property will know that these reports have been in force for some years now, and that Notaires usually advise buyers not to take any notice of them.

However, with effect from 1^st January 2011, the report has formed part of the property advertising, although many reports are still outstanding, as there is a significant backlog with the firms carrying out the diagnostics.

However, there is a very important aspect of the DPE reports, that has not received much publicity, and that relates to the 0% loan facility (mainly for French buyers) - where a proportion of their mortgage can be claimed at 0%, see

http://www.ptz-plus.info/le-pret-a-taux-zero-plus/ptz-plus-ce-qui-va-changer.html

This website shows the changes planned for 2011 & 2012. With effect from the latter date, the DPE report is going to significantly influence the amount that a buyer can borrow, with properties in ratings A-D eligible for double the zero % loan, and this will definitely make these properties more marketable.

« Les acquéreurs des logements étiquetés A, B, C et D bénéficieront d’un montant de prêt doublé par rapport à ceux des logements évalués E, F ou G ».

So those vendors with houses rated E, F & G might be advised to try to sell sooner rather than later as more press coverage is sure to emerge, and will inevitably show these houses in a poor light.

Peter Elias (Agent Commercial) www.allez-francais.com

Coming soon - very serious business income

2011-01-30T05:28:00.000-08:00

There are lots of gîte complexes and similar businesses available for sale at the moment, buyers have truly got a great choice open to them. Some are very successful, others have aspirations, and some are frankly fairly average affaires.

Prices vary tremendously, but once you start to pay top dollar you expect a really thriving business, and that it what is about to come on to the market in the Lot department (Midi-Pyrenees). Priced in excess of a million Euros, we have an entire country estate for sale, made up of several houses, a restaurant, tennis / basketball courts and lots of land, (over 10 hectares).

The present owners have put together a special business plan, making their business stand out from the rest. So good, in fact, that the likes of BMW have used the conference facilities for their in-house events.

Everything is in tip-top order, a great business that is producing over 200,000 Euros per annum.

Full details via http://www.allez-francais.com/ (upon request)

Peter Elias (Agent Commercial).

French property prices on the rebound

2011-01-18T05:54:00.001-08:00

The French national association of estate agents, FNAIM, have announced their review of the property market in France for 2010.

Overall, they indicate that the price of older homes rose by an average of 1.3% in the year, while there was a rise of 1.8% in the price of apartments. This increase for last year comes after two successive years when, on average, property prices fell (-3.1% in 2008 and -4.9% in 2009).

Being a National survey, there are distinct regional variations, and the graphic attached shows the range of price changes for each region during 2010. This would seem to indicate that now is an excellent time for buyers to be returning to our principal markets - the Poitou Charentes, and the Dordogne valley.

Peter Elias Agent Commercial http://www.allez-francais.com/

Tasteful decorations

2011-01-16T01:06:00.000-08:00

One thing frequently observed on makeover TV programmes, is the importance of dressing a house to it's best advantage, in order to secure a sale.

That fashion has not taken off in France, where I am sure you will have noticed Estate Agents' photos with washing draped here and there, plus unmade beds etc.

It is always a pleasure to show a tastefully renovated house, especially if the colour schemes are not too overpowering.

We do currently have a house that has been decorated by a famous interior designer, Jean Philippe Laplaud, who has also worked in the United States.

The direct link to the property is http://www.allez-francais.com/details.php?pty_id=1275

Happy viewing, Peter Elias (Agent Commercial) www.allez-francais.com

A business in the Corrèze

2011-01-10T05:13:00.000-08:00

Many people looking to move to France have a requirement that they start to generate an income pretty well as soon as they arrive in France.

Creating your own gîte or B & B business is, of course, possible, but it all takes time, and during that period you can eat into your savings at an alarming rate.

So, why not buy an established business ? OK, you may have to pay a small premium for an up and running business, but you can hit the ground running and start to receive an income from day one.

One great opportunity is currently available for 565,000 Euros, with a 3 bedroom area for the owners, and 3 letting rooms, (all en-suite), a bar with a Class IV licence, and just 2 Km from a touristic village. The new airport at Brive / Vallée de la Dordogne is just a short drive away. A golf course on the doorstep, what else could you ask for ?

Peter Elias (Agent Commercial) http://www.allez-francais.com/

Happy New Year - more paper !

2011-01-01T02:40:00.000-08:00

The 1st January 2011. A New Year, some new rules & regulations for property sales, with a requirement for DPE reports (energy ratings), and status reports on fosse septiques.

December has proved to be a fruitful month for sales, and special thanks go to Kim & Nigel, our colleagues in the Poitou Charentes, who managed to secure sales on both Christmas Eve and also New Year’s Eve. An example of the Allez-Français team going the “extra mile”, whilst other agents extended the holiday period.

It was rather fitting that the deal agreed yesterday, on New Year’s Eve was for a Scottish couple, selling their home near Melle. They were able to celebrate Hogmanay in style.

The new energy reports are working their way on to websites, property details, and into windows. They won’t change much – one of our properties scores incredibly badly on one scale, and then incredibly well on another. It just has an outdated system, which is blatantly obvious to even the most inexperienced eye. We also have 2 identical properties that have been visited for the diagnostic reports, by different “experts”. The results are significantly different, even though the houses and the heating systems are the same. C’est la via !

If you would like to see my New Year greeting, follow the link below

http://www.jacquielawson.com/viewcard.asp?code=2692103349993&source=jl999

Bonne année pour 2011, Peter Elias www.allez-francais.com

End of 2010

2010-12-27T01:00:00.000-08:00

This will be the last blog of 2010, and what a strange year it has turned out to be.

Strange extremes of weather have made it a year to remember, and certainly the coldest December either side of the Channel for many a year.

We are steadily busy with viewings between Christmas & the New Year, principally with French clients from Paris, who are looking to buy a holiday home near to Beaulieu sur Dordogne, also known as the Limousin Riviera.

UK buyers are also maintaining strong interest in the area, but they will need to move quickly, as I predict that house prices will start to rise again, albeit slowly in 2011.

Anyway, our best wishes for you in 2011.

Peter Elias

http://www.allez-francais.com/

Great business opportunities

2010-12-16T02:30:00.001-08:00

To make a real success of life in France, it is most important to have a good, steady income, and many hopefuls turn to gîte income, only to find that this is lower than their expectations.

Depending upon individual circumstances, it may normally require 3 or even 4 letting units to generate sufficient income, to maintain a satisfactory lifestyle.

During the last few days, we have found 2 business opportunities with property for sale, the first one through retirement, and the second one due to family illness.

Both are in the Lot department (46), in good locations for tourist business, being close to towns such as Rocamadour, (the 2nd most visted site in France).

At 733,225 Euros there is a fabulous C18th house, plus a 3 bed house, plus 2 studios with a pool. For 890,000 there is a Quercy farmhouse plus 4 cottages, a pool and 6 hectares of land. Both very different, but both have real income generation potential.

Visit our website for full details of each property - http://www.allez-francais.com/

Seasons greetings, Peter Elias

New territory

2010-12-12T01:38:00.000-08:00

Having moved from the Poitou Charentes in the summer, the last few weeks have been taken up sorting out our home in the Corrèze. Now that has been largely completed, I have been able to turn my attention to developing the business down here in the Dordogne Valley.

There are some wonderful properties, some spectacular views, and some superb prices.

2011 is going to be a great year to buy in France, with the market stabilising, prices have probably gone as low as they are going to, and there is still a surplus of property on the market. That means some great opportunities are out there.

Over the next few weeks, I have to populate the website with the influx of properties that are now available.

Bonne dimanche !

Peter Elias www.allez-francais.com

New rules for property sales

2010-11-23T03:58:00.000-08:00

With effect from 1st January 2011, any advertising of a property for sale must specify the “DPE or Diagnostic de Performance Energetique” (energy efficiency) report. We are working with our vendors to arrange for these energy ratings to be displayed on our property details.

Since November 2006 all new homes and buildings for sale have been required to undergo an energy performance evaluation (an energy performance diagnostic, or DPE), and receive an energy performance certificate.

The certificate, rather like those applied to washing machines and fridges, indicates both the level of energy consumption and the greenhouse gas emission level, on a scale of A to G, with G being least efficient and the highest emissions.

The full diagnostic report is accompanied with various recommendations for improving the building’s energy efficiency.

France No 1 again

2010-11-17T10:01:00.000-08:00

Once again France comes out top in the quality of life index. According to http://www.uswitch.com/

France enjoys the earliest retirement age (joint with Poland), spends the most on healthcare (11% of GDP) and has the longest life expectancy in Europe. Its workers also benefit from 36 days holiday a year, compared with just 28 in the UK, and it comes only behind Spain and Italy for hours of sunshine.

The UK came 9th out of the 10 European countries in the Index, thanks to high living costs, below average government spending on health and education, short holidays and late retirement. The Index shows that people in France enjoy the highest quality of life, closely followed by Spain.

People in the UK pay the highest prices for food and diesel, yet the government spends below the European average (as a percentage of GDP) on health and education. We also work longer hours, retire later, receive less annual leave than most of our European counterparts and get less sunshine along the way - not to mention the fact that we can expect to die two years younger than our French counterparts.

Ireland and the UK trailed in the last 2 places. Isn't it time for you to make that move and join us over here in France ?

Peter Elias (Agent Commercial) http://www.allez-francais.com/

U turn on Taxation of Capital Gains

2010-11-02T06:23:00.000-07:00

Currently Capital Gains in relation to immovable property (except the main residence) are taxed in France at a rate of 16% plus 12.1% social charges. These rates apply after deduction of the 10% allowances for each year of ownership after the first five years. After 15 years, the gain is free of tax and social charges.

An amendment was adopted by the National Assembly during the course of their examination of the 2011 Finance Bill. If amendment is agreed by the Senate, it will increase the tax payable on capital gains concerning immovable property.

Probable Regime from 1^st January 2011

The measure voted on the 21^st October proposes an increase in the rate of tax from 16% to 19%. Social charges on property gains will increase from 12.1% to 12.3%. Whilst the tax will still be calculated after the 10% deductions for length of ownership, the social charges will be calculated on the total gain before taking account of such allowances.

Therefore, where a property is sold after 15 years of ownership, the individual will not have any tax to pay, but they will still pay social charges of 12.3% on the full gain. The gain is taken into account when looking at taxable income for the purposes of the Bouclier Fiscal, but the amount taken into account will be the full gain before any allowances (previously it was just the taxable gain after allowances).

If these measures are adopted by the Senate, they will affect individuals who sell their property after 1^st January 2011. Therefore, if a sale is on the cards, the Acte Authentique should be signed before 31^st December 2010 in order to benefit from the current rates.

Peter Elias www.allez-francais.com

Immaculate 19th century Château with far reaching views

2010-11-01T03:56:00.000-07:00

This beautiful and homely chateau, built at the end of the 19th century, is in a private position overlooking a valley with far reaching views.

The entrance is through the round tower where you find yourself in an original panelled hall (32m²) with stone floor and original staircase. The salon/dining room (60m²) was two rooms but has been opened into one large space with marble tiled floor, 5 windows giving spectacular views on three sides, a large stone fireplace provides a central focal point and the walls have been fabric covered. The breakfast kitchen (18m²) is fully fitted with oak units in a traditional style, plenty of room for a large table. The office (26m²) is panelled in wood with complimenting fireplace and lovely views over the valley. Family bathroom (11.5m²) has double vanity sinks bath and bidet. Separate wc. Door down to the sous-sol area.

On the first floor are 4 double bedrooms, all with lovely views, the floors are all original wood parquet in great condition. The master bedroom (27m²) has an en-suite shower room, bedroom 2 (27m²) has a dressing room in the tower, bedroom 3 (27m²) and bedroom 4 (12.5m²). Family bathroom (12.5m²) has 2 vanity sinks, bath and wc. Separate wc.

On the second floor are 3 large bedrooms, tower room and 2 attic rooms for possible conversion.

The basement or sous-sol can be accessed form the house and the garden. It contains various useful rooms, all with high ceilings, laundry, boiler room and cellars for wine storage. There is also another large vaulted cellar (380m²) which is under the terrace and garden.

Outside are the dependences and garages (totalling 220m²) in superb order.The gardens have a superb balustraded terrace overlooking the valley.

Link http://www.allez-francais.com/details.php?pty_id=1227

Great business opportunities

2010-10-23T03:49:00.000-07:00

With the summer season now past, there are a number of gîte complexes out there for sale, some are good and some are quite frankly bad.

I have chosen to highlight a couple, coming in just below 500,000 Euros, which is around £445,000 at today's exchange rates.

Both are located in South Deux Sèvres, well-known as the 2nd sunniest region of France. There are good road, rail and air connections to this area, and attractions such as La Rochelle, Cognac & Futuroscope are within an easy drive.

The 1st complex is made up of a 4 bed Maison de Maître with 4 cottages to let, (proven track record), and has 2 swimming pools. Priced only 495,000 Euros.

http://www.allez-francais.com/details.php?pty_id=792

The 2nd complex is a large French farmhouse with 4 beds, plus 2 gites, 2 chambre d'hotes rooms, a large bar, plus a mill to restore in a riverside setting. Price 495,850 Euros.

http://www.allez-francais.com/details.php?pty_id=1225

Do get in touch for full details of these special properties.

Peter Elias (Agent Commercial) http://www.allez-francais.com/

Currency volatility back in the news

2010-10-10T01:51:00.000-07:00

Once again the GBP/Euro pairing was volatile this week with highs reaching 1.1807, lows of 1.1509 and an average exchange rate of 1.1686. This equates to a difference of 2.59% between high and low leading to a difference of 6,475€ on an exchange worth 250,000€.

Last week saw the publication of UK GDP data which temporarily caused a positive shift in the value of Sterling. This was short lived and the value of the Pound against the Euro dropped off towards the end of the week.

Sterling has been relatively strong against the other major currencies this week leading analysts to speculate that it is primarily Euro strength which is causing the movement. The value of the Euro has managed to rise even in the wake of the increased bailout of Anglo Irish Bank and the
downgrading of Spain’s credit rating.

Looking to the week ahead the Euro could strengthen further on the back of the announcement of Germany’s Purchasing Manager Index (Manufacturing) which is expected to be bullish. The PMIM measures the level of goods manufactured in the Eurozone’s strongest economy and therefore indicates consumer purchases and German trade levels.

On Thursday the BoE announces its interest rate decision. A hawkish outlook from the Bank and a rate rise would be positive for the value of Sterling. However it is important to note that the BoE have not indicated a rate rise and dovish comments could see GBP lose more ground to the Euro.

Both of these announcements could mean it is the ideal time for Euro buyers to capitalise. The
points raised emphasise the volatility of the market and the necessity to remain in close contact
with specialist currency exchange dealer, perhaps about the benefits of forward contracts as a way of safeguarding a rate of exchange. Small changes in exchange rates can lead to large
differences in transactions so utilising the expert knowledge and professionalism of a dedicated trader can help you save thousands of pounds.

Peter Elias www.allez-francais.com
sales@allez-francais.com

Golfer's paradise

2010-09-25T03:57:00.000-07:00

A luxury modern property with a heated swimming pool, close to leisure lake & golf course, just bring your suitcase and golf clubs !

Completed in 2006, this spacious 3 / 4 bedroom, 3 bathroom home offering 190m² habitable area, with a heated swimming pool on a large elevated plot with views towards a lake and golf course, outside you will find a gravelled driveway, a large parking area, and a landscaped garden with stream running through it.

Membership of the local golf club gives you the opportunity to enjoy a testing 9 hole course as well as a beautiful wooded 18 hole course. This course is in partnership with another course just 15 km away, thereby giving members two courses for the price of one!The property is in a small hamlet in the south part of the Corrèze department. There are several local villages classified as "Les Plus Beaux Villages de France" within a short drive. The area is now serviced by Brive / Vallée de la Dordogne airport, with flights to London, which is likely to result in an increase in local prices. More photos and room sizes available upon request.

Link http://www.allez-francais.com/details.php?pty_id=1210

Peter Elias (Agent Commercial) http://www.allez-francais.com/
Dordogne Valley Contacts Tel: 05 55 28 46 40 (France) or Tel: 0844 284 2569 (UK)

Fantastic building plot

2010-09-05T00:03:00.000-07:00

Fabulous land of 7,870m² with stunning views towards the south west, in a quiet hamlet under 5 minutes from Beaulieu sur Dordogne. Approached via a quiet road, the land sits on a sloping parcel, giving really wonderful views towards the sunset.

The owners have detailed plans approved for 2 dwellings.The 1st house would be a 4 bed property 152m² SH in a Quercy style with a character pigeonnier, large lounge of over 45m² and 3 bath / shower rooms.

The 2nd house 95.62m² SH would also be in keeping with the local style, with 3 ground floor bedrooms, and 1st floor space of 52m² convertible, plus a further 32.87m² under the eaves (below 1.8m high).

Of course, these plans could be changed / adapted to a single dwelling on a large plot if desired.

Schools and shops are just 3 km distant. The land is in a small hamlet near Beaulieu sur Dordogne, a popular market town set on the Dordogne River in the south part of the Correze.

There are several local villages classified as "Les Plus Beaux Villages de France" within a short drive. The area is now serviced by Brive / Vallée de la Dordogne airport, with flights to London, which is likely to result in an increase in local prices. More photos available.

Peter Elias (Agent Commercial) www.allez-francais.com

Moving forward

2010-08-21T00:18:00.001-07:00

They say that moving house is one of the most stressful experiences of your life, up there with divorce and loss of life. Well, it’s our turn next week!

After almost 10 years in the Poitou Charentes, we are turning a new page, and will be moving further south into the Corrèze department, close to the glorious Dordogne valley. Saying goodbye to our French neighbours is proving especially difficult. They have appreciated our efforts to integrate into their social network, and a few tears have been shed during the face to face meetings that we have had to date.

This is making the decision to move even harder than we imagined. Aperos last night continued ‘till almost midnight, under a starry sky and a lovely warm evening. Our immediate neighbours bought us a lovely momento of all things local, beautifully packaged in a wicker basket.

This weekend we prepare all of the boxes for the removal van, physically challenging work as well as emotionally draining. At least we know that our buyer has sent his money to the Notaire ahead of time, and we have the transfer of utility services all in hand. We even managed this week to successfully transfer our existing telephone number to our business associates so that we don’t lose any calls.

All of the tasks are slowly being ticked off, but we are now looking forward to the next chapter in our French adventure, in the Vallée de la Dordogne.

Peter Elias (Agent Commercial)
http://www.allez-francais.com/

Great renovation project

2010-08-10T06:13:00.000-07:00

A renovation project with a lot to offer.

Comprising of a detached house with 2 rooms of 25 & 15m², plus a smaller room of 10m². 1st floor to convert with 2 rooms of 20m². The property sits at the end of a quiet cul-de-sac, with no passing traffic or nuisances. Adjoining the house is an open barn of 40m² that could easily be incorporated into the living accommodation. The stonework in this barn is very attractive.

Outside there are attractive gardens of 563m² with a small outbuilding and a well. The property has water & electricity available, but does need a fosse septique, but there is plenty of space available, and the soil tests etc have already been carried out.

The village is little more than 5 minutes from the popular market town of Chef Boutonne, with its café pavement culture and good range of local shops & supermarkets. There is a good choice of regional airports and the coast is about an hour distant at La Rochelle.

Peter Elias Agent Commercial http://www.allez-francais.com/

Bargain properties

2010-08-06T03:33:00.000-07:00

In times of difficult market conditions there are always times when some vendors are under more pressure than others, and their prices become very negotiable.

This is when a buyer needs to work with their property agent, so that they know which ones are negotiable and which are pretty fixed on their price.

Currently, we have properties raning from just over 120,000 Euros to those at around 500,000 Euros that are quite negotiable. Get in touch with your requirements and we can tell you which ones you could pick up at a bargain price.

Happy hunting !

Peter Elias (Agent Commercial)
www.allez-francais.com

Survive France Network

2010-08-01T03:11:00.000-07:00

During recent weeks, I have joined a network called “Survive France” and found the people there interesting, helpful and able to communicate in words of more than one syllable, which seems a challenge on some forums in France !

There are a number of interesting groups on the network, such as the following :-

Bloggers in France

Computer corner

Rural writers

Photography club

Business owners in France

Music professionals in France

Plus one of course for the Poitou Charentes

There are many more, and you can start your own group. A great idea and one that I am more than happy to recommend to our clients.

Peter Elias (Agent Commercial) http://www.allez-francais.com/

Dordogne Valley properties

2010-07-25T01:15:00.000-07:00

Having worked in the Poitou Charentes area for 9 years, the time is rapidly approaching for our move, (at the end of August), and subsequent relocation to the Dordogne valley area of southern Correze and the northern Lot departments.

Prices are pretty much the same, but the scenery quite spectacular, often having a real WOW factor.

We have just started to add properties to our portfolio in this area, and are going to focus on an area of around 30 minutes from the really beautiful town of Beaulieu sur Dordogne.

So if you are looking to move to this pretty area, home to several of "Les Plus Beaux Villages de France", let me know, and indeed if you are selling !

Bon weekend,

Peter Elias (Agent Commercial) http://www.allez-francais.com/

An SCI for Unmarried Partners

2010-07-22T22:56:00.000-07:00

There is no longer any French inheritance tax between spouses or couples who have a French civil partnership agreement. However, a live-in partner, without a French civil partnership agreement is effectively treated as a stranger and has an allowance of only €1500. Anything he or she inherits after that will then be taxed at a rate of 60% – ouch! Such a tax bill may well mean having to sell the property to clear the debt!

Some partners could of course get married and solve most of their French tax problems but most people do not wish to make a decision to get married purely for tax reasons and this option is not available to same-sex partners. What else can be done to mitigate heavy taxes?

Civil partnership agreements

Since 15th November 1999, couples, either heterosexual or same-sex, who want to live together and share their lives may make a pacte civil de solidarité (PACS) which has legal recognition in France. This is in fact a contract by which the couple declare that they are sharing their lives and that they wish to register the fact and have their relationship made subject to the 1999 law. However, at the moment this option is only available to those who are either French or resident in France.

SCI tontinière – a French property-owning company with a twist

Another rather neat solution, available to residents and non-residents, heterosexual and same-sex partners, is to set up a particular type of company known as a Société Civil Immobilière (SCI) Tontinière. An SCI is a French property-owning company suitable for small numbers of people or family groups, set up to manage and/or let property. It is possible to have a special form of this company whereby the shares are held ‘en tontine’. Shares held in this way cannot be said to belong to either of the owners. It is as if both partners are holding the property on trust until the other dies. At this point the survivor is said to own all of the shares retrospectively (from the date of purchase) and the deceased is considered never to have had any rights as far as ownership of the shares is concerned.

The real advantage of this is that because the transfer of shares to the survivor is not considered an inheritance but instead is treated in the same way as a sale of shares, then the rate of tax paid is only 5%, as with any transfer of shares. For an unmarried partner, this represents an enormous saving on the usual rate of inheritance tax for ‘strangers’ of 60%. Not only that, the rights of the deceased’s reserved heirs, ie children, are effectively eliminated with regard to the assets of the SCI.

Previously, there were disadvantages to this structure in the UK. This is because the Inland Revenue would treat the shareholders as if they were directors receiving benefits in kind from the company. Thus the shareholders would be charged income tax on the deemed rental value of the property for all the time it was available to them during the year. Fortunately, provisions in the 2007 budget provide that this measure will be abolished from 2008 and apply retrospectively. Therefore anyone setting up an SCI now is unlikely to have any tax problems at home.

Are you eligible to use a tontine clause?

There are some provisos to the use of a tontine clause whether in a purchase contract or the statuts (articles of association) of an SCI. These are that the couple must contribute equally in financial terms to the purchase and that they must be of similar age. The reason for this latter proviso is that the people concerned must have the same life expectancy to have an equal chance of benefiting from the tontine clause eventually. The reason for the former is that if the contributions were not equal, there would be a disguised gift and hence an avoidance of tax. It might also be seen as a deliberate attempt to benefit the partner to the disadvantage of any reserved heirs, which may be considered an abuse of law in France, leading to the arrangement being treated as void.

Peter Elias (Agent Commercial) http://www.allez-francais.com/

with special thanks to Sue Busby of France Legal

The perils of a private sale

2010-07-04T02:14:00.001-07:00

Something happened this week to a client that had viewed with our agency in June, and it has prompted me to comment again about the dangers of buying and indeed selling privately, by cutting out the agent.

There are a thousand and one things that could go wrong, but between them, this buyer and vendor had contrived to hit upon several classics and had found themselves in a dispute, that doesn't look like being resolved.

Why do vendors market properties privately ? Sometimes to give the impression of a lower price, (minus the 6% or so agency fees). But many sellers advertise at the same price in any event ! Often, private ads are out of date, and the agency sites have a lower price than a private ad. Sometimes, the vendor will have advised the agency of their "bottom line", so the agency can steer a buyer towards a successful offer, rather than a blunt take it or leave it offer.

We have produced a guide for both buyers & sellers explaining why they should use an agency. They may actually save money in the end!

In our (perhaps biased) opinion, there is no substitute for using a professional agent, who is likely to market the property more successfully than a private vendor, and get a sale agreed quickly, at a price determined by the market. We look forward to working with you given the opportunity.

Peter Elias (Agent Commercial)

http://www.allez-francais.com/index.php

Remove the World Cup blues

2010-06-29T09:06:00.000-07:00

Both France and England have seen their World Cup hopes shattered. Both teams were on early flights back home and their supporters left deflated.

Whilst this has been going on though, the £ has broken through the 1.20 mark and today is nudging up towards 1.24. This is really great news for UK buyers looking to buy in France. Houses priced in Euros have fallen significantly on currency exchange alone since the start of the year, and many vendors are also reducing their prices to cash in on the summer market.

You need to work closely with your agent as they will often know whether a vendor is further open to offers and could help you obtain a real bargain.

When you get to France, you can join a really great network called SurviveFrance, http://www.survivefrance.com/ some great ideas about living in working on this side of the channel !

Peter Elias (AgentCommercial) http://www.allez-francais.com/

Bargain properties

2010-06-13T09:48:00.000-07:00

Estate agents long for real value properties, and we are currently lucky to have 2 superbly priced properties for under £100,000 - both ready to move into.

Both are priced at 117,000 Euros and offer 3 bedrooms.

One has a small, easily managed garden of just under 300m², ideal for a holiday home.

Link - http://allez-francais.com/details.php?pty_id=1166

The other, a larger garden & outbuildings, but still relatively easy maintenance.

Link - http://allez-francais.com/details.php?pty_id=1168

Don't hang around if you are looking for a bargain, get in touch and arrange and early viewing of these properties.

Peter Elias

http://http://www.allez-francais.com/

Currency situation - Ex-Pats selling to return to the UK

2010-06-09T02:20:00.000-07:00

In this article I am going to return to the currency question, but looking at the situation exclusively from a vendor returning to the UK this time.

The International Monetary Fund, a partner in the 750 billion Euro support plan, is urging the EU states to complete the currency convergence and centralise more financial control in Brussels or risk further problems ahead. It is reported that in Germany and France there is resistance as the general consensus is that their taxpayers are paying for Greece’s past profligacy.

The £ for its part, remains quite strong against most currencies in spite of Prime Minister David Cameron warning of spending cuts which will be large, sustained and which will affect everyone.

A good example of what is happening to vendors can be illustrated by considering a house worth 250,000 Euros. Just 3 months ago, this would have realised £153,500, whereas today this would only achieve £141,150 a potential loss of over 8%.

Many vendors are speaking to our dedicated currency dealer Adam Bobroff, and have fixed forward rates, to combat the demise of the Euro, which is predicted to fall even further, even against the £. If you don't have his details let me know and I will arrange for hime to contact you at a convenient time.

Whatever you do, dont use your bank to transfer your money back to the UK.

Peter Elias (Agent Commercial) http://www.allez-francais.com/

Golfer's dream

2010-06-06T02:12:00.000-07:00

A well presented 35 year old property, built to a good standard, set in a quiet location surrounded by an attractive mature garden of 4,571m² with country views.

You enter the property into an entrance hall 5m², the lounge 26m² has a fireplace and insert fire, the kitchen 14m² has a good range of units and appliances. Adjoining the kitchen is a utility room 10m². A corridor leads to a study 12m² and a formal dining room 12m². (Both rooms were originally bedrooms, and could easily be used as such). The ground floor accommodation is completed by a modern bathroom with a WC. N.B. Most of the ground floor rooms have doors leading directly into the gardens.

A solid staircase leads to the 1st floor landing, where there are 3 good sized bedrooms, the largest measuring 6 x 3.7 max and having a dressing room. There is a good sized shower room and plenty of storage areas.

There is an integral garage 22.75m² housing the 2 heating systems, one being oil fired, and the 2nd being an ultra modern electric system. The house is virtually all double glazed, with just one window remaining single glazed. Outside there is a wooden summer house and useful outbuildings used as a store & additional garaging.

The mature gardens are laid mainly to lawn, but has many fruit trees and a small orchard. The property is 12 Km from the popular Les Forges golf course.

Peter Elias (Agent Commercial)

http://www.allez-francais.com/

Strong sterling as predicted - dont let your money go up in smoke

2010-06-02T04:03:00.001-07:00

Just a few weeks ago, I looked at the £ / € situation and predicted that the tide was turning back in favour for UK buyers rather than French vendors returning to the UK.

This has continued to be the case, with the £ climbing above the 1.20 mark, and hovering either side of this crucial barrier. I now think that if this can be maintained, there is no reason for 1.25 to become the next target for the currency.

As mentioned recently, these are the best levels since the collapse that started with the fall of Lehman Brothers in October 2008. That is fantastic news for anyone moving to Europe, although it is not such great news for those with Euros to sell.

It does highlight the need to deal with a specialist currency dealer, rather than relying on your High Street bank, and many of our clients have benefitted from this service and expertise during this critical period. Just a week ago the £ was at 1.15, so by getting the timing correct, you could have saved 4.35 % on your money in under a week. Not a bad deal !

Peter Elias (Agent Commercial)

http://www.allez-francais.com/

Bargain basement price - 91,800 €

2010-05-22T09:22:00.000-07:00

Set in the heart of a quiet hamlet is this deceptively large 2 bedroom house.

Enter from the courtyard garden into a veranda then into the large and bright lounge (31m²) which has a tiled floor, exposed beams, original cupboard, fireplace with wood burner, 2 double glazed windows to the front and stairs up to the first floor. The kitchen (20m²) has a real farmhouse feel with its Charentaise fireplace, tiled floor, stone sink and windows to the front and side. To the rear of this is another room (15m²) which is currently being used as an office/laundry room. The family bathroom (5m²) is on the ground floor with bath having a shower over, sink and WC.

The stairs from the study lead to a master bedroom (25m²)with exposed beams and pine floor, en-suite shower room (8m²). Another staircase leads from the lounge to the second bedroom (31m²) with exposed beams.

Behind the house is a large barn (36m²).The front courtyard is plenty big enough to enjoy al fresco dining. Across the lane is a barn used for storage but would be ideal as a garage. Some 100m up the lane is a garden of some 965m² perfect for growing those vegetables.Sauze Vaussais is a short drive away, (as are Melle and Lezay), and there is a good choice of reginal airports. Very competitively priced at only 91,800 €

5 years old

2010-05-16T03:31:00.000-07:00

Normally, I am not a great lover of modern French properties, preferring the older style character houses. From time to time, something a bit different comes along and challenges your thoughts.

Very recently, I visited a 5 year old bungalow, on the edge of Sauzé Vaussais. There is a bit of extra character in this bungalow, so often missing from other modern properties. Quality oak flooring and tasteful tiling has been used in many areas of the property. The living rooms are much larger than in the average pavillon. The oil tank is buried in the garden, and the property is also on mains drainage. The garden benefits from open views across open countryside, (last year sunflower fields). With the shops, bars and restaurants within walking distance, this property will appeal to a wide selection of people. Other facilities such as schools & a supermarket are available within the town. All in all, good value at 222,600 Euros.

Peter Elias (Agent Commercial)

http://www.allez-francais.com/details.php?pty_id=1146

Sterling on the up

2010-05-13T03:13:00.001-07:00

With the UK election finally over and a decision made as to who will form the British Government finalised, the relief within the financial markets was very evident.
Mervyn King delivered the Bank of England’s quarterly Inflation report and made it very clear that UK interest rates will stay low for a considerable time to come due to the troubled rimes ahead. His boost for the new government was that he is enthusiastic about plans to start reducing the budget deficit as soon as possible.
The Bank of England is clearly concerned that a delay in action would risk the UK losing its Triple A credit rating and that would have cost repercussions for the Bank and the Treasury.
Whilst Sterling slipped a bit, the Euro also remained weak and there are fears that this decline could increase in pace in line with market scepticism over the effectiveness of the €uro rescue plan funding.
Some analysts are predicting a further fall of 5 or 6 % in the Euro’s value against the US Dollar, although the UK government will have to start proving itself if Sterling is to keep pace.
The Sterling - Euro exchange rate is hitting the highest levels it has achieved since June 2009 and a break above 1.19 € would offer the best levels since the collapse that started with the fall of Lehman Brothers in October 2008. That is fantastic news for anyone moving to Europe, although it is not such great news for those with Euros to sell. However, those sellers have had 20 months of advantageous rates and it now looks like it is the turn of the buyers.
Peter Elias (Agent Commercial)http://www.allez-francais.com

Where now for currencies ?

2010-05-07T08:14:00.000-07:00

So we head into the weekend not knowing who will be the next resident of 10 Downing Street, not knowing whether the €110 billion bailout for Greece will be enough, not knowing whether one of the other Mediterranean countries is preparing its bid for EU support and not knowing whether we will get rain or not, although that last one is apparently easier to predict.

What we do know is that the Pound is still offering some of the best levels for Sterling sellers in 9 Months, that the Euro is the cheapest it has been for US Dollar sellers since March 2009 and that the Australasian currencies may well weaken a tad in the days ahead if safe haven buying is all the rage and whilst the Canadian Dollar is still looking good now, it may well weaken as oil comes under pressure. Sadly for those with Sterling in their pockets, even if the Aussie and Kiwi Dollars lose strength, the £ is likely to lose strength faster because the UK economies is far more reliant on and tied to the European Union countries.

It’s a very cloudy view both weather-wise and economy-wise right now and risk management is the key to being currency-wise.

If you thought the recession was behind us, I am sorry to say, it may not be dead and gone just yet. The problem lies in the nature of the credit markets. Bank A may lend to Bank B who lends to Bank C but Bank C may also be lending to Bank A and Bank B may be heavily indebted to Bank D as well. This is also true for countries and the whole world wide web of debt hangs on the premise that each is capable of repaying everyone else. If one bank or country fails to keep its part of the bargain, the whole pack of cards is in danger of collapse.

Peter Elias Agent Commercial www.allez-francais.com

Uncertain markets

2010-05-02T06:02:00.000-07:00

May Bank Holiday weekend – and what confusion on the markets.

With the prospect of a “hung parliament” in the UK and the European crisis elsewhere, the currency markets don’t know which way to go.

A hung parliament would bring with it uncertainty for the markets (equities & the £), so the week ahead will define the way forward.

In Euroland the so-called PIGS (Portugal, Italy, Greece & Spain), are still in big trouble, especially the latter two. Riots on May Day In Greece in response to the austerity measures required as part of their rescue package, whilst in Spain, they have just announced unemployment at over 20%.

If there is a decisive result in the UK elections, I would expect Sterling to surge ahead in the weeks ahead, perhaps towards 1.20 and even 1.25, which would be a great buying opportunity for UK buyers looking to acquire a property here in France.

Peter Elias http://www.allez-francais.com/

Another moulin

2010-04-19T08:25:00.000-07:00

Last week I wrote about three recent additions to our portfolio - all of which were water mills. Well now we have another !

This one is a large 5 bed mill, with a fabulous mill room, scope to enlarge even more, and is in great condition.

The very attractive gardens are bordered by the water course, and there is a really private sun terrace and salt water swimming pool installed.

Definitely worthy of an early inspection ...

Peter Elias http://www.allez-francais.com/

Water Mills

2010-04-15T06:27:00.000-07:00

A bit like buses, you wait ages for one to come along, and then three arrive together !

That is exactly what has happened in recent days with an old favourite, the moulin d'eau. One example is a beautiful restored watermill dating back to the 17th century retaining original features in a peaceful secluded yet secure setting, with land totalling 2,550m². Offering approximately 260m² habitable full details can be found via this link :-

http://www.allez-francais.com/details.php?pty_id=932

Nearer to facilities is another mill, where the owners have tapped into the water course to provide a form of geothermic heating for the property :-

http://www.allez-francais.com/details.php?pty_id=1133

Completely in the country, but again convenient for commerce, is a large partially renovated mill, offering tremendous potential :-

http://www.allez-francais.com/details.php?pty_id=1044

Because river management is much more pro-active in France than in the UK, there are rarely flooding problems. I can highly recommend visits to these lovely waterside properties, where you can relax and enjoy the laid-back French lifestyle.

Bonne chance !

Peter Elias (Agent Commercial)

http://www.allez-francais.com/

QROPS, QNUPS & a Seminar

2010-04-04T01:57:00.000-07:00

One of the hardest parts of becoming an ex-Pat is knowing where to get the best financial advice to ensure that your decision is sustainable. Since our business was established in 2001, we have been searching for such a business partner, and we have now concluded negotiations with one of the leading International Independent Financial advisers.

They now have offices in Niort (79), so are convenient for most readers of this magazine. Anyone who would like to receive advice on their financial situation, either before or after they have moved to France is welcome to contact us using the details at the end of this article for further information.

Protecting assets from tax during your lifetime and on death is an important issue for many expatriates. Particularly if you are unsure of the exact regime for a country, such as France, with it’s complex succession rules. They can provide and advise on a comprehensive range of asset protection structures which can help you – a) Minimise your tax liabilities during your life and in the event of your death, b) Pass assets to your heirs in an efficient manner, c) Control your assets after your death .

You will probably need to change your approach to investment management to ensure that your wealth is invested in a tax efficient manner reflecting the taxes of the country where you live. Within tax efficient vehicles, it is possible to work closely with you to establish your investment strategy.. The strategy will be based on diversifying your holdings and the asset types you invest in, as this will assist in reducing risk and preserving your wealth in real terms over the longer term.

To introduce you to these ideas, a free invitation based seminar is planned for May 6th (morning), entitled “Tax Mitigation, Pensions and Wealth Preservation”. The seminar will explore the tax mitigation and wealth preservation opportunities available to UK nationals who are currently tax resident overseas, whether they should become non-UK tax residents, and advice for those who may repatriate back to the UK in the future. The agenda covers private wealth and UK pensions, taking the opportunity to explore tax and investment strategies for preserving your capital, improving your investment income and maximising the value of your UK private pension funds in France. Certainly if you have over £100,000 of savings/investments and/or pension funds totalling over £100,000, you should reserve your place at this seminar, but it is suitable for most ex-Pats.

Of special interest are 2 recent pension schemes which I will touch on briefly below. Qualifying Recognised Overseas Pension Schemes (QROPS) are pension schemes located in a jurisdiction outside the UK and which HM Revenue & Customs (HMRC) has approved to receive transfers from UK registered pension funds. They provide many benefits for British expatriate retirees. Most UK private pension funds can be transferred provided you have not yet bought an annuity or, if it is a Final Salary Scheme, that you have not commenced taking your pension.

On the 15th February 2010, a new UK HM Revenue & Customs (HMRC) statutory instrument came into force, which creates significant opportunities for British expatriates to save local taxes in the country in which they are tax resident as well as UK inheritance tax (IHT). The UK legislation created a new type of trust known as Qualifying Non-UK Pension Schemes (QNUPS). The tax rules for both of these pension schemes are generally more favourable than other investment structures.

Some British expatriates will return to the UK at some point, whether this is to be closer to family or on the death of a spouse or a partner. Most defer seeking tax and financial advice until they have actually returned to the UK, however the key to effective tax planning is to plan early before repatriating. This way you may be able to structure your assets in a far more tax efficient environment than you could achieve by waiting until you have arrived back in the UK.

Between now and the next issue of Impressions a General Election will be held in the UK. At the time of writing many experts are predicting a hung parliament, which would not be good news for the UK economy or for the £. Which leads me nicely on for a word about currencies. The graph below shows the 90 day movement :

Peter Elias (Agent Commercial) http://www.allez-francais.com/
Tel 05 49 27 01 22 or e-mail allez-francais@wanadoo.fr for details of the seminar or any other information contained in this article.

2010-03-31T02:06:00.000-07:00

Selling a house in France is quite different to the UK, or so most people believe. Agency fees are much higher here, and are paid for by the buyer, whereas of course they are paid for by the seller in England.

But be honest, if you are selling a house in the UK, don’t the prices reflect the fact that the vendor is going to pick up the tab for say 2.5% fees, and therefore this is built into the price in any event.

The main difference here in France is the general lack of exclusivity delas for agencies, so that a property will often be with 4 or 5 agencies and perhaps advertised privately as well. Inevitably, these agencies will all have differing fee structures, so the house appears in marketing at different prices, confusing the buyer.

Since they are not paying, some vendors decide to place there property with numerous agencies, with the end result that none of them go out of their way to make a special effort to sell the property, and the house appears on dozens of websites, giving the appearance of a desperate vendor, with a problem property.

Going down the private sale route is fine if you can present your property professionally, but many adverts are frankly awful, and you then end up dealing with serial viewers who are not in a position to proceed even if they feel inclined. You also face the thorny issue of negotiating face to face with the buyer, and even if you are up to the challenge, they may not be comfotable!

Buyers are also suspicious of how an owner arrived at the asking price for a private sale. The natural assumption is that the owner is being hopeful and this then attracts a significantly reduced offer.

In our admittedly biased opinion, there is no substitute for using a professional agency with good internet presence, (since 95%+ of searches start this way), and restricting your choice to 3 or at an absolute maximum of 4 agencies to work with.

Feel free to offer photographs that show the property in the best light, and offer to work with your agent rather that against them, and you will enjoy the rewards sooner rather than later.

Peter Elias (Agent Commercial) http://www.allez-francais.com

Taxing news

2010-03-31T01:40:00.001-07:00

Gîte owners

Please note – a little publicised law was passed in France at the end of last year – and according to article L. 324-1-1 & D. 324-1-1 of the tourism code, anyone offering furnished accommodation for tourists must make a declaration to the maire in the commune where the property is situated. Previously those offering Chambre d’Hôtes have been required to register.

Since there are tax breaks that are enjoyed by gites and holiday rentals, notably deductible costs of 70% as opposed to 50% and a much higher income allowance of around 70,000 €uros instead of 32,000, it might be the case that these benefits will only be available in the future if you have completed and registered these forms. You can download the PDF file by clicking on the following link :-
https://www.formulaires.modernisation.gouv.fr/gf/cerfa_14004.do

Financial Planning

On the 15th February 2010, a new UK HM Revenue & Customs (HMRC) statutory instrument came into force, creating a new type of trust known as Qualifying Non-UK Pension Schemes (QNUPS) - which should not be confused with Qualifying Recognised Overseas Pension Schemes (QROPS). Both schemes create significant opportunities for British expatriates to save local taxes in the country in which they are tax resident as well as UK inheritance tax (IHT). Allez-Français have a formal Introducer arrangement with a leading firm of International Independent Financial Advisers, and they will be holding a seminar on how best to arrange your financial affairs in May. Please e-mail me for an invitation at allez-francais@wanadoo.fr

U K Budget 2010

While Chancellor Alistair Darling’s last Budget under the current administration contained few direct tax increases, it was nonetheless a budget designed to increase tax revenue.

Darling pointed out that 60% of the tax increases will be paid by the top 5% of earners, saying that those who are better off should pay their “fair share”.

Although he failed to mention personal income tax allowances in his speech, they have been frozen, a move described in the press as ‘classic stealth tax’.

While British expatriates may have been relieved to have escaped the UK tax regime, the situation is not much better in other European countries and we could see more tax rises or stealth taxes coming our way. The UK budget and its ‘tax raid on the middle classes’ is a good example of why it is worth reviewing your financial planning to see what steps you can take to legitimately lower your tax bill.

The IHT measures will hit thousands of expatriates as it extends beyond residency and is charged on worldwide assets. As an expatriate you may however be able to use one of the new QROPS or QNUPS pension arrangements to free your investable wealth from this tax, as well as some local taxes. These options will be discussed at the seminar outlined above.

See our highly acclaimed website http://www.allez-francais.com/

QROPS pensions

2010-03-21T02:09:00.000-07:00

It is estimated that there are currently around 200,000 British expatriates living in France and most have a UK pension that is worth a considerable amount of thought and planning.

In recent years the option has arisen to allow UK expatriates to transfer their UK pension into a QROPS fund, thereby allowing them to gain from the many benefits that come with having your pension transferred into a QROPS.

There are many types of pension that can be transferred which include personal and occupational pension schemes and this includes pensions that are in draw down (even if currently in payment) and protected rights can also be transferred.

It is often a great option to transfer your UK pension into a QROPS since UK pension schemes are not very flexible and there are many restrictions on when and how you draw down your benefits. The majority of expat pensioners in France are also forced to buy an annuity at age 75. Consequently this means that you cannot then leave any balance of your remaining pension fund to your heirs on death. However, if your pension is transferred into a QROPS this is something which becomes a possibility and is just one of the many benefits which makes relocating your pension into a QROPS something really worth considering.

You are not able to transfer a final salary pension, or a scheme if you have already purchased an annuity.

Our business partners (fully registered IFAs), with offices in Niort would be pleased to talk to you about your requirements. Please note that a fund of at least £100,000 is normally required to access this facility. Please contact us for further details.

Peter Elias (Agent Commercial) http://www.allez-francais.com/

Politics & the market

2010-03-14T03:34:00.001-07:00

The political uncertainty surrounding the forthcoming election is doing nothing to help the volatility surrounding the £ currency, both against the € and the $.

UK buyers are facing an exchange rate of around 1.10 € to the £ if they wish to buy a home in France. Not great when you compare rates over the past 5 years or so, but who knows what will happen if there is a hung parliament?

This weakness in the £ does present itself as an opportunity for any ex-Pats looking to sell up in the Eurozone and return to the UK. Sensible vendors are using this as a chance to lower prices, generate more interest leading to a sale, and then pocket the gain in currency.

Peter Elias (Agent Commercial), http://www.allez-francais.com

Xynthia

2010-03-01T09:39:00.000-08:00

This past weekend, the Poitou Charentes and the Vendée have been blasted by an exceptional storm – called Xynthia with winds of up to 159 Km per hour.

The storm has caused devastation, particularly on the coasts, with serious flooding, partly also due to Spring tides. The centre of La Rochelle was especially badly damaged by this freak storm.

Unfortunately, over 50 people from this area have lost their lives, and inevitably the damage caused to property has been significant. The last serious storm of this magnitude was at the end of 1999, between Christmas and the New Year, when a serious storm on a similar course to this one, (en-route from Spain & Portugal), caused havoc over a 72 hour period.

As a nation France has declared the event a “national disaster” and promises have been made to release funds to help communities rebuild. The French President Nicolas Sarkozy has today visited the storm-battered Atlantic coast. Many of the casualties on the French coast drowned, while those elsewhere were hit by parts of buildings or falling trees.

Peter Elias
http://www.allez-francais.com/

Market picking up ?

2010-02-21T02:00:00.000-08:00

Spring time is traditionally the period in the property market when activity picks up. There are signs that here in France, that Spring is coming early, as we have had a flurry of potential buyers including Swiss, Belgian, Dutch plus of course the expected French & British clients.

There are clear signs that the French property market has "bottomed", many clients see this as a good opportunity to buy, with some vendors still being negotiable on price. We will know which properties are negotiable and which are not.

The last few weeks have seen some very interesting properties coming on to our books, including several new gîte properties with excellent income track records, a great B & B property, a quality apartment in a very sought after location, and many more.

The only way to be sure of being alerted to these opportunities is to build a good relationship with your agent. Don’t be afraid of asking for our help – that is why we are in business !

Peter Elias (Agent Commercial), Allez-Français
http://www.allez-francais.com

Tree planting day in Paizay-le-Tort

2010-02-07T04:08:00.000-08:00

Regular readers of this Blog will recall that in late autumn, Allez-Français advised that for the end of 2009 & for the whole of 2010 we decided that we will try to off-set the carbon footprint of clients viewing through us, by planting a tree* for each client visiting and viewing a selection of property, which will over time absorb their carbon dioxide emissions.

If you missed the article it can be found at
http://allez-francais.blogspot.com/2009/10/agency-going-green.html

We would like to think of ourselves as ground-breakers with this idea. Hopefully, clients will decide to view with an agency trying to something for the environment, rather than one just offering a standard service, that we are confident that we will exceed in any case!

This weekend saw the annual tree planting event in our village, and in our own way, we were able to supplement the number of trees planted in the village. Hopefully next year will be even better and there will be even more trees to plant. We will perhaps invite some of the new owners to attend the event, and even plant their own tree.
The mayor, of our village, Mme Bouchet, is aware of our initiative, and made a point of thanking us for the contribution. I personally would like to thank Jackie & John Warner, who purchased via ourselves several years ago. They sold last year, and they very kindly made a contribution towards our effort. That was a super gesture, and very much appreciated.

At Allez-Français we are like to consider that we are taking steps to help reduce our impact on our surroundings and create a more environmentally friendly future.

* We advised that a tree for each client would be planted in the village of Paizay le Tort.

Peter Elias (Agent Commercial)
E-mail: allez-francais@wanadoo.fr
Website http://www.allez-francais.com

More on the £ / € situation

2010-01-28T08:31:00.000-08:00

The year has started better for UK ex-Pats as the £ rises to recent highs against the Euro, making a significant difference to those on fixed income, such as pensions. As I write this article, the £ is trading in excess of 1.16 versus the Euro.

It is effectively the Euro that is weak though, since both the Pound and US Dollar have managed to make headway against the currency. We have to conclude that fears over the economies of Portugal, Spain. Italy and Greece are weighing heavily on the Euro. Greece has received a lot of headlines over their faltering economy, but
Portugal is slipping in the same direction as Greece in terms of its government finances and they will need to address this in their forthcoming budget on a domestic level. This is especially so igiven the distance French and also German figures are placing between their countries and the problems that Greece is facing. Not such a cosy club now it seems !

Sterling remains at the very top of its recent ranges with the Pound buying more Euros, Canadian Dollars and Australasian dollars than it has for 5 months. However, these levels are looking less and less secure and the charts are posting increasingly overbought signals against the Pound so those with Sterling who haven’t already swapped some of their funds for another currency should think about doing so urgently. At times like this rates are stting on a precarious knife edge and go either way so if you are risk averse, then you should have a more detailed conversation with our dedicated dealers to determine how these moves may save or cost you money and what you can do about it.

What does this mean for house prices? Well, the cost of buying a French house has become cheaper for a UK buyer, with a 250,000 Euro house costing £215,815 today, as against ove £224,000 both 1 and 3 months ago.

Given that French property prices have fallen since 2008, I am very much of the opinion that today represents a great buying opportunity for UK buyers, with relatively low prices and a favourable exchange rate.

Some of our vendors are ex-Pats who are returning to the UK, for various reasons. They now face a difficult decision, since whilst the £ has been weakening throughout 2008 & 2009, they have been able to reduce their prices, secure in the knowlegde that they would gain on the exchange rate and be able to buy in a weak UK property market. The emphasis has now shifted, as the UK market strengthens and the Euro weakens against the Pound.

Peter Elias (Agent Commercial)

www.allez-francais.com

Great buying opportunity for the £ against the €

2010-01-21T09:23:00.000-08:00

The pressure on the Euro has become immense since Greece was downgraded and the Eurozone refused to step in to help. Traders fear a Lehman Brothers type scenario where Greece defaults on its debt and Portugal, Spain and Ireland are forced to follow suit as the carpet is pulled beneath them.

A report in the telegraph over the weekend suggest the European Central Bank (ECB) are preparing legal ground in the event a Euro member tried to leave the Eurozone breaks up following the Greek crisis.

The fact that EUR USD has fallen over 7.0% since December will not worry the ECB one little bit. They have been attempting to talk the euro down for most of last year to help their exporters pull the Eurozone from recession.

The pound on the other hand has had a great weekend. December CPI inflation data released Monday was 2.9%, much higher than the Bank of England 2.0% target and very close to the number which requires BoE Governor Mervyn King to write a letter of explanation to Chancellor Alistair Darling. This was the largest one-month rise since April 1991.

The next number to surprise to the upside was UK December unemployment which fell by 15.2k, the second consecutive monthly decline.

Euro buyers have therefore been presented with the best levels to buy in 4-months after a 4.5% bounce since last week.

Call me today for an introduction to our dedicated dealers and get preferential rates !

Peter Elias (Agent Commercial) +33 549 27 01 22

http://www.allez-francais.com/

2010-01-17T03:18:00.000-08:00

France is officially, for the fifth year in a row, the best place in the world to live according to a survey carried out by the magazine International Living, who for the past 30 years have been producing a 'Quality of Life' index, looking at the best places to live in the world.

Their index examines nine main criteria, such as the cost of living, climate, crime, environment, infrastructure and the quality of health care, with statistics drawn from official sources. The magazine does acknowledge that if you live in France you have to be prepared to put up with ‘tiresome bureaucracy’, they this is outweighed by an superb quality of life, including, of course, the world’s best health service.

France scores high on most categories in the index, but it is the lifestyle of the French that the magazine considers to be the special quality of the country. As you may guess, these include the pleasures of long lingering lunches, the importance of friends and family, the beautiful countryside, and many more aspects of La Belle France that cannot be measured by a set of statistics.

Behind France in the ranking of 194 countries comes Australia, followed by Switzerland and Germany. Britain languishes in 25th place, while Spain comes in at a sluggish 17th place. Britain's ranking highlights why so many are keen to move across the Channel. 25th place in the poll, coming behind the likes of Uruguay, Hungary and Lithuania ! Somebody has remarked that if the benefits system wasn’t so generous and local governments weren’t obliged to house anyone arriving without cash, it would be lower down than 25th place.

A debate rages over whether Greece can scramble out of its economic problems and start to reclaim its standing within the Eurozone. You may not have any links with Greece at all, but the repercussions if they don’t sort their problems out could be earth moving. Questions over whether other EU states will offer Greece financial support and whether, if Greece were forced out or forced to pull out of the Euro, the Euro project could survive are coming thick and fast. The answers are a lot more elusive and if we measure all the Eurozone countries against the original financial measures which were the original requirements for membership of the Euro, few would pass, so it is a bit of pot and kettle right now. Consequently, I would be very surprised if any other EU state would point the finger at Greece until their own houses are in better shape.

However, while the debate is in place we can expect further volatility in the Euro.

That would be great if the UK wasn’t being tarred with the same brush as Greece. There is a strong feeling that UK debt levels will create problems in the year ahead as credit referencing agencies continue to monitor Britain’s progress - or lack of it and Sterling is certainly reflecting that in its current levels of weakness. Equally, the fact that Iceland is prevaricating on whether it will repay the £2.3 billion that the UK government paid to those who lost money when Icelandic banks collapsed, isn’t helping matters. £2.3 billion may only be a miniscule part of the humungous debt that Britain has accumulated in the last couple of years but every little helps. Having said that the £ has gained some ground over the last 7 days against the Euro.

See our website http://www.allez-francais.com/

Allez-Français Direct

2010-01-13T02:03:00.000-08:00

New launch in January 2010 – for special properties, in selected areas of France. A no cost service to vendors, at attractive rates for buyers, utilising our existing highly regarded website http://www.allez-francais.com/. Since our launch at the end of 2001, the name Allez-Français has been associated with quality property in the Poitou Charentes region of France. We currently have around 300 properties for sale, and specialise in properties at the middle to higher end of the market. Throughout this period we have been asked by potential clients whether we have property for sale in other areas, and until very recently the answer has always been “no”. We believe that we have identified a place in the market for our business, whereby we advertise and market quality property outside the Poitou Charentes for people who are trying to sell privately.

This is often a dilemma for people about to put their property on the market. Many fear that the relatively high agency fees in France may put people off and discourage them from buying via an agent. Agency fees in France are typically between 5 – 7.5% in France and that does add a significant cost, but bear in mind it is the buyer who pays the fees and they are already conditioned to paying this sum and the same again on Notaire’s fees. As a private vendor you will be viewed suspiciously as to how you arrived at your asking price. Are you being wildly optimistic and hoping for the lottery win! Selling your own house also costs money. Private advertisements are not cheap; websites cost time and money to set-up. Don’t expect a newly designed website to suddenly generate lots of traffic it doesn’t work like that. You will also receive many calls and viewings from people who are frankly ‘time-wasters’, who are just window shopping and re-living “a Place in the Sun” in their own minds.

As your agent, we would present the property professionally via our website and the French property media (at our cost – not yours). We would use photographs and a descriptive supplied by yourselves – all optimized for website exposure, and edited to our exacting standards.

Peter Elias (Agent Commercial)
http://www.allez-francais.com/

Party time

2009-12-26T04:38:00.000-08:00

On Christmas Eve we went to a party in a neighbouring village, hosted by some friends (they became friends after buying a house through us in 2003). Their house is now for sale again, since their family circumstances have changed, and they are forced to sell their beautiful home.

Also at the gathering were no less than 5 or 6 other couples who had also purchased via Allez-Francais over the years. It was a real joy to hear them all relate their stories and discover how happy they are in rural France. Every single one said that it was the best decision that they had made, and there were absolutely no regrets.

These clients still look forward to and enjoy our quarterly newsletter (see http://www.allez-francais.com/newsletter.php?q=4&y=2009)

The common element to the feedback that we received was that we were one of the very few agents that actually bothered to really listen to their requirements when they were looking and that we had a fabulous range of properties across all prices. It was really rewarding to hear this and they have all recommended our company to friends considering a move across the Channel.
I hope that you had a Joyeux Noël and wish you Bonne Année for 2010!

Peter Elias (Agent Commercial)

http://www.allez-francais.com/ or E-mail:allez-francais@wanadoo.fr

Client testimonial

2009-12-17T01:22:00.000-08:00

Why use our agency and not one of the "big-boys" ? Here is what a recent client has to say –

We have been searching for a home abroad for a number of years now and during that time have searched many web sites and dealt with a number of agencies in both France and Spain. I must say that we found your web site to be very user friendly, very informative and most importantly accurate in both the pictorial & worded descriptions. We were certainly not disappointed with any of the properties we viewed during our brief visit. Being based so far away meant that our time was very limited and therefore the process needed to be both very efficient and accurate, as we did not have anytime to waste. The initial viewings were all of properties that met with our criteria and the house we decided to purchase not only met but also exceeded our expectation.

After our unfortunate experience in the Spanish property market it was vital to us that we dealt with a professional organisation who would help and guide us through the various legal and administrative requirements associated with the purchase of a house in France. The team at Allez-Français again exceeded our expectation is this respect and your help and guidance in taking us through the purchasing, mortgage application & insurance process is very much appreciated. I cannot stress how apprehensive we were about this whole process after our disasters in Spain , however it was very reassuring knowing we were in professional and caring "hands". Again we thank you and your team for helping us achieve our dream. We now look forward to the day we finally leave behind the hustle and bustle of Hong Kong and take up residence in our beautiful home in France.

The end of the year is fast approaching, and this is often a time of currency volatility. Sterling is still strapped to very narrow trading ranges as a small amount of positive data and reassurance from the Bank of England that Britain has weathered the recession better than expected, hasn’t proven enough to support the ailing Pound. The massive level of UK government debt remains the fly in the ointment here.

As usual at this time of year, I would suggest this is the period to think about placing automated market orders to try to capture any spikes or troughs in exchange rates. The two weeks over the Christmas period are some of the most unpredictable and profitable in the whole year for those who use their market orders correctly and your dedicated Allez-Français currency dealer will be happy to discuss the options with you.

E-mail: allez-francais@wanadoo.fr

Completing a French property purchase

2009-12-04T23:05:00.000-08:00

One of the most important things to get right when you buy a French property, apart from your currency, (more on that later), is the structure for the ownership, taking into account the French Inheritance laws.

I have sat in with clients on 3 separate occassions this week at their final “Acte de Vente”, and in each case their individual scenario has been very different. Children by previous relationships and unmarried couples make for various permutations, and it is so incredibly important to get the way in which you buy the property correct.

Failure to do so, could result in children by a previous relationship owning a house jointly with a step-parent, or Inheritance tax being paid at 60%. This is why we accompany clients to the Notaire’s office for the final signature – to ensure that the best outcome is achieved. Having a very competent, English speaking Notaire is a very useful asset.

Turning to the currency matter, we have saved clients literally thousands of £s this week by using a dedicated currency dealer, rather that a High Street bank. The rates offered are significantly better, and with no charges. Full details available upon request.

E-mail: allez-francais@wanadoo.fr
Website http://www.allez-francais.com/

Bargain hunting

2009-11-29T06:29:00.000-08:00

Bargain hunting

With the property market fairly quiet, there are always some great opportunities to snap up a bargain.

Being in the best position to negotiate a good sale, i.e. with cash in your pocket, or even better your £s already exchanged into Euros, puts you a step ahead of the competition.

There are quite a number of very large price reductions now on our website, and this provides the astute buyer with a fantastic chance to buy a French property at a significant discount. See our website http://www.allez-francais.com/ or telephone or e-mail for the latest bargains ....
Peter Elias (Agent Commercial), La Moinerie, 79500 Paizay le Tort, Deux-Sèvres, FRANCE

Tel: 00 33 (0)5 49 27 01 22 Mob: 00 33 (0)6 62 28 02 25

E-mail: allez-francais@wanadoo.fr

Renewable energy, & mortgage lenders

2009-11-22T02:17:00.001-08:00

A week ago we were driving back from the Algarve, passing through Portugal and Spain en-route back to the Poitou Charentes. What was immediately evident was the extent of the efforts that have gone into providing renewable energy sources in those 2 countries.

Wind farms appear on many horizons as you make the drive. Whether you like them or hate them, they do appear to lie idle for an awful lot of the time, either because there is too much wind, or conversely, because there is not enough. However, given that they have a projected life span of 20 years, and they take 15 years to break even, we remain to be convinced about their value.

What was noticeable on this journey, was an increase in the number of solar powered projects. Sitting in football sized fields, the panels are low level and unobtrusive, quite a difference to the modern éolien (wind mill), that stands 140 meters high and is visible for many miles. In fact, you almost miss the solar fields because they are so discreet.

It is therefore a bit of a puzzle why this region of France has opted to invest in so many wind farms, (34 parks planned for our department alone), with a complete absence of solar energy except for small individual installations. It is acknowledged that we enjoy well over 2,200 hours of sun per annum, and the area is the 2nd sunniest in France, the decision to opt for wind power baffles me. Enough on this subject for the moment – now for another moan ...

Mortgages - I often arrange mortgages for clients and have previously had good experiences with all French lenders. This year, we have been facing one problem after another with one particular lender.

Earlier in the year, they were keen to promote their Equity release mortgage, which is a relatively new product here in France. I consequently submitted a number of cases to the lender, and found that each case was rejected by the office that we dealt with, as the rules had apparently changed retrospecively. We subsequently found that the same clients were able to arrange these loans via another branch of the bank, despite assurances to ourselves that this could not be done.

Recently, I have had 2 on-going sales where the buyers wanted to take advantage of low French interest rates and finance their purchases via a mortgage. Both cases stood up very well on income and valuation, and both were approved in principle quite quickly. However, the bank’s underwriters started to request information that had already been provided several weeks earlier in both cases. As a consequence, both loans were significantly delayed, although finally approved. The annoying thing was that the completion for both sales had to be rescheduled, to great inconvienience to all parties, and causing a significant amount of stress. No apology has been received to any of the parties, and we feel that this reflects upon our business, as it is us that have made the recommendation to use the lender. We have to seriously question whether we could ever recommend this lender again. (I am quite happy to name and shame the lender to any interested parties).

http://www.allez-francais.com/

E-mail: allez-francais@wanadoo.fr

Chateaux for sale

2009-11-15T05:52:00.000-08:00

There is always a great choice of exceptional properties for sale in France, but perhaps the best value for money is within the Chateau or Manoir category.

The styles very tremendously, from glamourous homely estates, to enormous palaces, and of course, fortified castles.

If you are looking for something extra special don't hesitate to contact us, we will certainly have something extra special for you.

Peter Elias (Agent Commercial), La Moinerie, 79500 Paizay le Tort, Deux-Sèvres

Website http://www.allez-francais.com/

E-mail: allez-francais@wanadoo.fr

A new exclusive development in France’s beautiful Mervent Forest

2009-11-01T01:45:00.000-07:00

This new exclusive development in France’s beautiful Mervent Forest is a ‘Turn Key’ Self Build Project. As a result you will buy the plot and then enter into a separate building contract to create your detached property. Plans will be drawn up to detail the design of your property based on a 2, 3 or 4 bedroom template together with the plot you have chosen. A company will handle the project management of the build and your property will be delivered to you complete in circa 30 months following exchange of contracts on the land. Options to tailor your purchase to state of the art sophistication are available such as private swimming pool, furniture package, interior design and intelligent home functionality.

Stunning elevated position above the meandering River Mervent, nestled in amongst trees and wildlife, whilst benefiting from panoramic views of France and surrounding villages. Just 5 minute walks to a man made beach at the river itself, other facilities that can be enjoyed in the immediate vicinity are:

· Sailing & Canoeing Centre
· Horse Riding Centre
· Coarse Fishing
· Mountain Biking
· Walking and Rambling
· Tree Top Adventure Park

The managing company has secured this land project significantly below market value, and furthermore by using the benefits of self build and bulk buying we are able to deliver the completed units considerably below the current market value too. Blue Sky has structured this opportunity, for investors to take full benefit of the discount. Subsequently investors will buy at less than 80% below market value. The remaining discount of 20% is effectively your equity. Investors will also be able to take advantage of various financing options to purchase their property.

A reservation fee of €5,000 secures your plot for 60 days at the current discounted price. These funds will also cover any architects costs associated with your purchase. A build quotation will then be issued to you based on your plot and a mortgage (if required) will be ‘approved’ for the total amount of the land and build costs in total. Any extras such as swimming pools should be decided on at this stage in principle so they can be included in the mortgage. A contract for the plot will then be issued, signed and exchanged. A further contract for the build at a fixed price will then be issued signed and exchanged. The mortgage will then be drawn down in installments relative to the progress of the build, initially settling the land in full.

For legal costs including associated mortgage and notary fees you should budget 8-9% of the land costs only, (a significant saving against the normal purchasing costs in France), which will be payable on exchange of the land.

The project itself will be 99 individual detached dwellings both modern in design but sympathetic to local surroundings, materials, features and architecture. Contact us now for full details via http://www.allez-francais.com/

Peter Elias (Agent Commercial), La Moinerie, 79500 Paizay le Tort, Deux-Sèvres, FRANCE

France is the best place to live in Europe

2009-10-18T01:55:00.000-07:00

France is the best place to live in Europe, according to a review of 17 quality of life factors carried out by a leading UK based consumer website.

The study examined a range of variables, such as net income after taxes, the cost of essential goods such as fuel, food and energy, along with lifestyle factors such as hours of sunshine, holiday entitlement, working hours and life expectancy, to provide a picture of the quality of life experienced in each country. The index was produced by the website http://www.uswitch.com/ a comparison site for consumer services and products. They publish an annual quality of life index across the main countries of Europe.

According to their study, France enjoys one of the lowest retirement ages, has the longest life expectancy in Europe and spends the most on healthcare. It also has one of the highest levels of spending on education. French workers also benefit from 34 days holiday a year – compared with only 28 days in the UK – and it comes only behind Spain and Italy for hours of sunshine. France has an average of 1,967 hours of sunshine per year, compared with 1,476 hours in the UK. Our base, in the Poitou Charentes is the 2nd sunniest area of France, after the Med coast, with around 2,250 hours of sunshine on average.

The study shows that money does not buy everything, for the UK has the highest net household income in Europe. At £35,730 it is £10,325 higher than the European average. However, people living in the UK also have to contend with a high cost of living - the average household energy bill alone adds up to an eye watering £1,239 a year while they also pay £1,175 a year in council tax. Even travel is expensive with a 30 mile journey into London on a train setting commuters back over £3,000 a year.

Drawing on official figures from the EU, the study shows that the same basket of goods that costs £134.48 in the UK costs £124 on average in Europe and only £118.76 in France, which enjoys the lowest food prices amongst those countries in the study.
While they earn less, the French also have some of the lowest alcohol, electricity and gas prices. France is the biggest investor in health, spending 11% of GDP on health, closely followed by Denmark and Germany.

Peter Elias (Agent Commercial), La Moinerie, 79500 Paizay le Tort, Deux-Sèvres

http://www.allez-francais.com/

New Carbon tax

2009-10-11T01:49:00.000-07:00

A carbon tax is to be introduced in France, accompanied by a compensatory reduction in income tax. The tax (Contribution Climat-Energie), is planned to come into operation on 1st January 2010, will be paid by households & companies who consume oil, gas or coal. (The tax will not be applied on electricity as less than 10% of electricity generation is coal powered).

The rate of tax has been set at 17 € per ton of CO² emitted, a rate half of that proposed by the committee set up by President Sarkozy to provide recommendations on the introduction of the tax.

For example, this will mean an increase of approximately 4.5 cents in the price of a litre of diesel and 4 cents on a litre of petrol. In practice the impact will vary significantly between households, with some households likely to be paying 200 € a year or more in tax.

The French government have made it clear that the rate has been set lower than they would have desired in order not to impact adversely on household budgets during the current economic downturn.

The government have stated that it is not their aim to increase the total level of taxes paid by households and companies, so other taxes will be reduced. All households will receive either a reduction in the level of income tax they pay each year, or alternatively a tax credit (Chèque Vert) if they do not pay tax. The amount of the tax rebate or credit will depend on the size of the household and the location. You can check out your own situation by visiting the following website (in French) :-
http://www.taxe-carbone.clcv.org/index.html

The government has also announced the abolition of the Taxe Professionnelle in 2010, although this tax is being replaced by a new system of tax, called the Cotisation Economique Territoriale, details still to be finalised. It may come as no surprise to many that there will be concessions for transport companies, farmers, and fishermen. Farmers and fishermen will receive a rebate of 75% in the first year! Look out for new measures for energy conservation and low polluting cars.

Peter Elias (Agent Commercial), La Moinerie, 79500 Paizay le Tort, Deux-Sèvres, FRANCE

Tel: 00 33 (0)5 49 27 01 22 or Tel: 00 33 (0)8 77 07 58 99 Mob: 00 33 (0)6 62 28 02 25

Agency - going green

2009-10-04T02:54:00.000-07:00

Like many people we are extremely concerned about the protection of the environment. Travelling to France from the UK, which represents most of our clientele, obviously impacts upon an individual’s carbon footprint. Whether you travel by ferry, aeroplane or car there is a significant impact.

For 2010 and the remainder of this year have decided that we will try to off-set the carbon footprint of clients viewing through us, by planting a tree* for each client visiting and viewing a selection of property, which will over time absorb their carbon dioxide emissions. At Allez-Français we are taking steps to help reduce our impact on our surroundings and create a more environmentally friendly future.

We can also assist clients to find artisans for home improvements, such as insulation to better than recommended levels, this ensures heat retention during winter months (reducing the need for heating) and ensures a cooler environment during summer months, reducing the need for air conditioning. Double glazing to all windows and doors. Recuperate rainwater. Install saltwater pool system which minimises the use of harsh and harmful chemicals. Plus of course, the use of alternative energy sources, such as wind, solar, geothermal.

We would like to think of ourselves as ground-breakers with this idea. Hopefully, clients will decide to view with an agency trying to something for the environment, rather than one just offering a standard service, that we are confident that we will exceed in any case!

* A tree for each client will be planted in the village of Paizay le Tort.

A carbon footprint is defined as - The total amount of greenhouse gases produced to directly and indirectly support human activities, usually expressed in equivalent tons of carbon dioxide (CO²).

In other words: When you drive a car, the engine burns fuel which creates a certain amount of CO², depending on its fuel consumption and the driving distance. (CO² is the chemical symbol for carbon dioxide). When you heat your house with oil, gas or coal, then you also generate CO². Even if you heat your house with electricity, the generation of the electrical power may also have emitted a certain amount of CO². When you buy food and goods, the production of the food and goods also emitted some quantities of CO².

Your carbon footprint is the sum of all emissions of CO² (carbon dioxide), which were induced by your activities in a given time frame.

Peter Elias (Agent Commercial), La Moinerie, 79500 Paizay le Tort, Deux-Sèvres, FRANCETel: 00 33 (0)5 49 27 01 22 or Tel: 00 33 (0)8 77 07 58 99
Mob: 00 33 (0)6 62 28 02 25 Tel: 0871 717 4176 (UK)

New challenges

2009-09-28T01:14:00.000-07:00

One of the great attractions of France is that it is so diverse. You can have rolling countryside, coastal regions and mountains, all within a relatively short area of the country. Each regions has it's own distinctive features and character, but whatever you like, you are sure to be able to find it in France.

Our mission is to be able to facilitate the purchase of your French dream home, and until now we have always been limited to the area inland from La Rochelle, the popular Poitou Charentes, straying also into the Vendée and Haute Vienne. During recent weeks we have been working to extend the areas in which we are able to offer property for sale. Naturally, we will be focusing on those areas most popular with the British and International clientele.

To start with, we have hand selected a small number of business partnerships, where we know that the Allez-Français ethos will be carried through and service levels be of the highest standard. Our business partners will be both experienced & established in their fields, being in a position to offer our clients an exceptional range of properties.

Next year, we are looking to develop this plan further, with a regional network of Allez-Francais representatives. In the coming months we will be speaking to potential candidates to work with us on this exciting project. We will be looking for self-motivated people, (couples or individuals), with a good command of the French language, who wish to be self-employed, working on a commission remunerated basis, independently, but with the support of a team behind them.We have already identified the 8 most suitable areas of France for this project, but we will only roll-out the business when we have identified suitable candidates and they have proven to us that they are right for the challenge ahead.

Peter Elias (Agent Commecial) http://www.allez-francais.com/

The pound at a 4 month low against the Euro

2009-09-20T02:42:00.000-07:00

The pound has fallen to a 4 month low against the Euro because of fresh concerns about the extent of the UK's public sector debt levels.

One €uro rose to as high as 0.9057 pence in Friday trading, the single currency's highest trading position since May. The pound's falls came as official figures showed UK's public sector net borrowing totalled £16.1bn last month. The Government's overall debt now stands at £804.8bn, or 57.5% of GDP, which is an increase of £172bn in the past year.

Analysts advise that the £ was also weakened by speculation that the FSA has set Lloyds Banking Group the task of raising more than £20bn to strengthen it’s balance sheet if it wants to leave the Government Asset Protection Scheme (GAPS). Such news has hurt the £ as it suggests that it will take longer for the UK banking sector to return to normal.

So, having seen expectations of the £ trading at 1.20 or even 1.25 against the Euro for the year end, the picture has now been totally revised and experts are waiting to see how the currencies move during the final quarter of the year. We have seen highs of 1.2917 back in Oct 08 and lows of 1.0249 in Dec 08, highlighting the importance of using a specialist currency dealer when you move money between currencies. For a 250,000 € house, for a UK buyer, the price could have fluctuated between £243,925 and £193,545, a staggering thought.

Monthly average rates for 2009 highlight the progress made until June since when improvement has halted and fallen back towards levels experienced in April.

Monthly average rates 2009

January 1.08962 EUR (21 days average)

February 1.12765 EUR (20 days average)

March 1.08771 EUR (22 days average)

April 1.11409 EUR (21 days average)

May 1.13034 EUR (21 days average)

June 1.1674 EUR (22 days average)

July 1.16157 EUR (23 days average)

August 1.15938 EUR (21 days average)

September 1.13592 EUR (14 days average)

Peter Elias (Agent Commercial), La Moinerie, 79500 Paizay le Tort, Deux-Sèvres, FRANCE

Tel: 00 33 (0)5 49 27 01 22 or Tel: 00 33 (0)8 77 07 58 99 Mob: 00 33 (0)6 62 28 02 25

Tel: 0871 717 4176 (UK) Website www.allez-francais.com

Property exhibition time

2009-09-13T01:25:00.000-07:00

This week, taking a break from work in rural Devon, I have taken the opportunity to visit the French Property News exhibition at Olympia, which is where we launched the Allez-Français company in January 2002.

How times have changed ! The vast halls of Olympia were packed with exhibitors over 2 floors back in 2002, and space was at a premium. During the course of that weekend 40,000 visitors charged through the doors and ensured that you never had a moment to relax. Yesterday, by contrast, there was plenty of space for exhibitors, over a single floor, and visitors strolled through the doors at a trickle rather than a surge.

There seemed to be as many Currency exchange dealers as Estate Agents, surely a sign that the immobilier world has taken a big hit and found times very hard during the past 12 months. There has been a change in marketing, away from costly shows, and expensive magazine advertising, towards more cost effective property website portals. That is certainly the way Allez-Français has moved during the last 12-18 months.

Being here in the UK does give you a serious reality check, however. PC madness still rules ! The newspapers yesterday reported how it is now not acceptable to refer to a famous pudding as “spotted dick”, and there was an article revealing that prison officers had been told that they could not refer to inmates by simply their surnames such as “Fletcher”, and that “Mr Fletcher” was the order of the day. What would Ronnie Barker say !

No wonder there is no shortage of Brits still trying to escape the island for France. The recent increase in activity is being maintained, and once again our company has been dealing with the signing of a “compromise de vente” on a Saturday afternoon. Well done Nigel, our new Agent Commercial, on notching up your 1st sale. Many more to follow ….

Peter Elias (Agent Commercial)
Website http://www.allez-francais.com/ or e-mail allez-francais@wanadoo.fr

Currency watch

2009-09-06T04:53:00.000-07:00

Pound Euro rates faced a torrid week last week, falling on Friday for the 7th straight trading session, a first for 2009. Rates dropped after a raft of poor UK data showing the economy is still in decline, coupled with the fact that forecast interest rate differentials caused the Euro to strengthen. The rate picked up slightly in trading on Tuesday morning, however poor PMI data compounded the problem with interest rate differentials, and so the pound is still performing poorly.

What does this mean?

Interest rate differential is simply the difference between our interest rate set by the Bank of England, and the Eurozone base rate set by the European Central Bank. If rates are higher in the Eurozone, then investors get a better return. This causes increased demand for the currency, and so as more investors purchase it becomes stronger and the net effect is lower rates. So, higher interest rates usually strengthen a currency, and vice versa.

Rates in the UK sit at 0.5%, while EU rates are at 1%. It had been the case that analysts thought the BoE would aggressively hike rates in the latter part of 2009. It’s now thought that EU rates will rise much faster than UK rates, which is what caused the Euro to strengthen. This coupled with poor UK data caused last week’s dismal performance by Sterling.

The pound recovered on Tuesday after taking a beating last week, when dismal UK business investment figures helped to further convince the market that UK interest rates would remain at a record low 0.5 percent for some time to aid the economy. However poor PMI figures which were worse than expected, caused the recovery to be short lived, and the downturn in Sterling exchange rates continued.

This week we see the ECB announce their interest rate decision, a hold at 1% is expected, but don’t rule out a rise to combat deflation.

Markets are extremely volatile at the moment, as the big movements in exchange rates last week demonstrated. This week we have various data releases from across the globe, which will no doubt cause further changes in exchange rates.

Uncertainty is never good for business, but it does of course throw up opportunities for the bold.

Peter Elias (Agent Commercial), La Moinerie, 79500 Paizay le Tort, Deux-Sèvres

E-mail: allez-francais@wanadoo.fr

Increased activity and sales

2009-08-29T23:35:00.000-07:00

A few weeks ago, I was reporting on signs that the market was picking up. The trend was steady rather than spectacular, starting with properties below 250,000 €. I am delighted to report that this trend is continuing, and as August closes, it has been our best month for sales since June 2006, with properties moving in just about every price band.

Quite what has inspired this rush of buyers is quite difficult to pinpoint. The £ : € rate has in fact dropped below 1.15, at level at which it has been comfortable for many weeks. That is good news for vendors returning to the UK, but hardly likely to inspire the rush in the opposite direction.

In fact we have seen quite a change in the profile of our viewing clients, with a good International mix, made up of American, Canadian, Belgian, Dutch, Australian, and Spanish, plus of course the French & British that you would expect.

I think this shows that our exposure to different markets via our extensive website portals is an important factor, and that we offer 1st class service levels throughout, to ensure that clients are very satisfied with their Allez-Français experience, whether they buy via ourselves or not.

I suppose the simple facts are that at last, people are starting to find that house sales are re-commencing, and that one sale fuels another. Certainly, I feel that property prices have bottomed out now, and the market will be looking ahead with anticipation as opposed to fear.

Last weekend we had the unusual situation of 2 offers from different buyers for the same property, whilst the owners also had 2 other offers on the table via different agencies to consider. It just goes to show that if the property is competitively priced, there are buyers out there.

Peter Elias (Agent Commercial), La Moinerie, 79500 Paizay le Tort, Deux-Sèvres, France

E-mail: allez-francais@wanadoo.fr Website http://www.allez-francais.com

Vineyards Domaines and Chateaux

2009-08-24T01:34:00.000-07:00

In a response to a recent enquiry, we have decided to set up a specialist arm dedicated to finding French vineyards for sale.

We have identified selected professional of the wine business, to work with in business partnership. They know that setting up in a wine region requires a certain number of surveys, analyses which only a viticultural expert, who knows all the aspects and characteristics of each zone, can provide.

We are confident that our experts and viticultural consultants combine their unique competences to audit, carry out surveys, analyse and accompany you to facilitate your vineyard acquisition project.

We are also going to be setting up a specialist department working uniquely on large Chateau estates, so if either of these exciting challenges are for you, do please get in touch with us to discuss your specific requirements.

E-mail: allez-francais@wanadoo.fr

Working with your French agency

2009-08-16T05:19:00.000-07:00

www.allez-francais.com

The Allez-Français website allows you deal directly with us on the ground in France. We are not agents based in the UK working in partnership with 3rd parties. We do work with some French agencies to supplement our property portfolio. Generally, each house on the site has been visited by one of our agents, who has been authorised to sell the house by the owner. We can often offer additional information that is not available via the website.

Our team will answer your specific questions based on his or her direct knowledge of the property, and will arrange to send additional images and conduct accompanied visits with you. In addition to offering an excellent service we keep our commissions competitive.

We help you through the legal and linguistic process of buying a property in France - from viewings to contracts. We speak your language (so long as it is French or English)!
We keep our site up to date - no pictures of alluring properties that sold years ago. These properties are for sale right now! We remove them from the site within one week of a sales contract being signed. Furthermore, if we don't have what you want on our books, we will try and find it for you.

If you would like to view some properties, please contact us to make an appointment a week or two in advance. We only work by appointment, so it can be difficult to accommodate people at the last minute. We will ask you for you your name, address and a contact number (ideally a mobile when you are in France). It is most important that you turn up for appointments. Missed and late appointments cause considerable inconvenience both to ourselves and property owners.
We will not handle any client funds whatsoever, your deposit and final payment will be paid direct to the Notaire. All of our prices include agency fees, but do not include the Notaire's charges, which are mostly government stamp duty.
Before you view, you will be required to sign a bon de visite (a visit coupon). This is required under French law to prove that we have shown you the properties indicated on the form. If you do purchase one of the properties, it does commit you to do so through us, and pay the agreed and declared commission, which is quoted as part of the sale price. We will also advise you to sign a mandat de recherche (a buyers' mandate) which authorises us to search out properties on your behalf. It does not commit you to buying one. Signing this mandat absolutely costs you nothing, and could in fact save you money.

Peter Elias (Agent Commercial), La Moinerie, 79500 Paizay le Tort, Deux-Sèvres, FRANCE
Tel: 00 33 (0)5 49 27 01 22 or Tel: 00 33 (0)8 77 07 58 99 Mob: 00 33 (0)6 62 28 02 25
www.allez-francais.com

Who wants to be a Millionaire ?

2009-08-09T06:24:00.000-07:00

I do ! For under a £1M you can buy a lovely small chateau, dating back to the 18th Century, magnificently restored, retaining numerous original features and set in 10 hectares of beautiful gardens, park and paddocks.

This delightful C18th Chateau style property has been fully renovated with great taste, comprises of a Manoir, 2 superb large holiday rental properties, several large outbuildings including stables, and the estate has a tennis court, carp lake plus 2 swimming pools. It stands in grounds of just over 10 ha, the lake having an island, and is situated in one of the most beautiful parts of Charente, just 5 minutes from Confolens (a small market town with an Annual Festival) and 45 minutes from Limoges or Poitiers airports.

Full details can be found on our website http://www.allez-francais.com/details.php?pty_id=972

Peter Elias (Agent Commercial), La Moinerie, 79500 Paizay le Tort, Deux-Sèvres, FRANCE

Tel: 00 33 (0)5 49 27 01 22 Mob: 00 33 (0)6 62 28 02 25 Tel: 0871 717 4176 (UK)

E-mail: allez-francais@wanadoo.fr