Just wondering if anyone has knowledge or experience of these type of investment propoerties? There was an article about them in yesterday's Sunday Times, and the Tribune quoted HOK who are arranging a few schemes in the South of France at the moment. Prices for a 1 bed apt start at 105 k, 150 k for a 2 bed. From what I can see, The deal is that the French govt waive the VAT on these propoerties, provided they are used for tourism rental purposes and not sold for 20 years. A management company signs a lease with you, usually for 11 years, and arranges everything in terms of the letting in return for a guaranteed 4-5% return. If you sell before 20 years, you are liable to repay the VAT waiver. Mortgagaes can be arranged via French banks.
So has anyone experience in these investments? I was wondering if they are good value, esp given their cheap prices. Also, does anyone know if irish banks will take equity in a foreign investment propoerty into acount when lending for investment or residential purposes here in Ireland?
So has anyone experience in these investments? I was wondering if they are good value, esp given their cheap prices. Also, does anyone know if irish banks will take equity in a foreign investment propoerty into acount when lending for investment or residential purposes here in Ireland?