Fancy some easy money? Fancy a way of making profit from property, even in this property slump of today? Fancy doing little other than contributing the original funds then sitting back and watching it all come in? With a world-wide recession threatening, this is not such an easy prospect but despite media scaremongering, it's not completely impossible, you just have to pick wisely.
To get somewhere relatively close to home that you could keep an eye on if you wish but that doesn't come at the expense of extortionate British tax fees would be an ideal investment and this is why French leaseback sales are taking off at the moment. Of course, popular demand always creates inflated prices so early investigations are recommended.
Under the French leaseback scheme you can own a French property and rent it out through a management company, leaving you with virtually nothing to do. Rent will be paid directly into your bank account, whether French or English and tax virtually all income can be offset against tax, leaving you with a respectable income and a future home abroad.
Guaranteed rents and a huge VAT refund which gives back almost your entire deposit, leaving you with a freehold apartment that is fully furnished and fully managed are the main attractions to a French leaseback property.
There are three main areas of France where a leaseback property can be purchased: French Alps, dote d'Azur and Paris. These areas are always filled with visitors and your property can be rented out to these visitors, with a provision for you being able to also use the place as a holiday home. The scheme has been running for over thirty years now, which means those first on the ladder have paid off their mortgages and are now currently enjoying the main benefits of their investment by living in them.
The outskirts of Paris throws up lots of property suitable for the French leaseback scheme. Although there aren't many opportunities within central Paris, this does make the properties initially cheaper and the commute into the city is not a difficult one. The best place to look is Versailles.
In the French Alps, purchasing a property under the French leaseback scheme is beneficial as there is always a ski holiday trade to cater to. The valleys of Val d'Isere, Megeve and Annecy are the best places to look and it's also worth considering Geneva, Chamrousse and Chamonix.
If you are considering a property in Cote d'Azur, this is a hot investment area. Nice, Cannes, St Tropez, Marseilles and St Raphael are great spots for celebrity spotting and experience the most amazing weather. Go even further for even better weather and try leasebacks in Argeles Sur Mer or Perpignan.
French mortgages are easy to arrange as they encourage foreign investors to their country. Currently, the interest rate of French mortgages are lower the UK mortgages and the requirements for securing one are pretty much the same as with UK banks. Interest rates can be fixed for the term of the mortgage if you want.
So, you can still find a worthwhile investment in property and the amount of return you would get on it means that even with a recession, holding on to it for a few years would mean that you have a nice little retirement home, holiday home or future income.
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