O
You must be right OverseasCafe, someone must have tried to sell one. 48 hours now and no response though. Could it be that French leasebacks are at the (crowded) smoke-and-mirrors end of foreign property "investments"Leasebacks have been sold in some volume in Ireland since 2000, in that period I'm sure someone must have, at the very least, tried to sell one.
I'm not sure what your point is here.
The trick here is to read the question, "has anyone ever sold a French Leaseback?". It wasn't meant to be a trick question, I'm not trying to make a 'point', I just want to know if anyone out there has ever sold a leaseback and, if they have, how did they get on?
which tended to suggest to me (apparently incorrectly) that you and others were fishing for bad news, rather than searching for a broad and balanced range of experiences.I suspect there is no shortage of people who have tried to sell a leaseback, but they may not have been hugely successful, either failing completely or having to take a big hit on what they paid. Either way, Irish people who fare badly when selling property don't generally like to talk about it too much. Which is a great pity, because it could prevent others from making the same mistakes in future.
If you want a pension then buy a pension, don't buy a French leaseback.
I work closely with a couple of French lads and interestinglyy both have purchased leasebacks in Toulouse specifically as a retirement vehice. According to them it's a common practice amongst French people as a long term investment.
Do you have a source for this belief?Yes, but I think the leaseback scheme was introduced by the French government to encourage renewal in tourist areas. Correct me if I'm wrong but I think French nationals get more incentives than non-French.
The law may have originally started out for rural renewal, and maybe it's true in Ireland that they are marketed mainly as holiday lets.Are you sure these are not French buy-to-let properties, which are subsidised for French nationals? Leasebacks are predominantly holiday properties, which means the attraction for French nationals is less than it would be for foreigners. This isn't to say that French don't buy them, they do, but not to the extend that they invest in buy-to-let properties.
Do you have a source for this belief?
Everything I have read highlights the benefits of obtaining a particular tax status under French Law = statut de loueur en meublé professionnel (LMP), = Landlord of furnished property. Or indeed LMNP (non professional.) This has absolutely nothing to do with having French nationality as far as I can see.
But that's no different in concept to investing in anything in another country. You have to look at the particular international tax agreements to work out whether a particular tax break in one country will turn out to be beneficial for you personally or not in combination with the tax levied locally in your country of residence. The tax break in France may be completely wiped out by another tax levied in e.g. Ireland. I don't see this as particularly nationalistic or exclusive. It's just a result of having different tax laws in different countries.
The law may have originally started out for rural renewal, and maybe it's true in Ireland that they are marketed mainly as holiday lets.
But according to the french language websites I have read the investment may currently fall into any one of three categories: Student residences (résidences étudiantes), holiday lets (résidences hôtelières), and retirement / care homes (maisons de retraite). That's a fairly wide net with long term potential and not just dependent on the vagaries of the tourist sector. Although the quoted return may not look high, your actual result and how you view the investment apparently hinges on whether the tax breaks are advantageous or not in your particular situation.
Example Source:
Apologies. I'm not here to extol the virtues of investing in France at all. I love to visit the place, but no more than that.
I also don't want to hijack your thread.
But if two people post on a thread that a French national gets treated differently than an Irish national in our supposedly free and fair Europe, or post incorrect/incomplete information about the limitations of a relevant law, I felt obliged to find out if it is true and to challenge that statement for the sake of maintaining the generally excellent quality of the information on this site.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?