France is internationally known in the luxury industry. That is partly because the most important conglomerate in this sector is LVMH, which is French. But when you take a closer look, you realize that there are many reasons that make this country the ideal place to buy or rent a luxury property. There are certainly enough of them to justify investing in one. Here is why you should choose France, if you are looking to buy a luxury property soon.
Paris
The City of Lights is a good enough reason in itself to buy a luxury property in France. That is because Paris is one of the most romantic and iconic cities in the world, renowned for its beautiful architecture, fashion and cuisine; basically everything that a wealthy person would be looking for in a city. It offers a luxurious lifestyle that is difficult to find anywhere else, thanks to its exclusive boutiques, high-end Michelin-starred restaurants, and world-class museums. Paris is also home to some of the most beautiful and historic buildings in the world, with apartments that offer exquisite views and a great quality of life. Therefore, owning a luxury apartment in Paris is not only a wise investment but it will also provide its owner a unique and elevated lifestyle experience while he will be living there. Here is a link if you are looking for an apartment for sale in Paris.
The French Riviera
Not everyone wants to live in a busy city like Paris. Some of the wealthiest prefer to enjoy the sun and the sea, away from the metropolitan rhythm of life. The French Riviera is known all over the world as one of the most important locations when it comes to luxury villas. If you want to try to live there before buying a property, you can select one of these rentals in St. Tropez. There are many cities that are big enough to offer a great lifestyle on the French Riviera, such as Nice and Cannes, while providing a relaxing atmosphere. It is hard to really comprehend the joy of living there until you find yourself bathing in a pool and looking at the coastline below. Owning such a property is one of the best investments you can make, since it will be easy to rent it out at a high cost, all-year round.
A Favorable Tax Regime for non-resident Property Buyers
There are two rules that favour non-resident property owners. In France, there is a wealth tax called “ISF” (Impôt de solidarité sur la fortune). It is charged to individuals whose net wealth is over 1.3 million euros. However, non-resident owners are only required to pay ISF if the asset in question represents more than 50% of their overall worldwide net worth. The second advantage is more long-term, and is only beneficial to those who intend to keep their property for a long time. It states that if the property has been held for more than 22 years, the capital gains tax is reduced to zero for a non-resident property owner. Normally, they would be subject to capital gains tax at a rate of 19% on the sale of their property. It certainly makes it worth waiting 22 years before selling.
We cannot close this article without mentioning two more important reasons why buying a luxury property in France is a great investment. The first one is that the country attracts a diverse range of buyers, including high net worth individuals from countries such as China and the Middle East. The second is that some of the world’s most prestigious luxury property are located in France, which means that it attracts lots of buyers seeking exclusive and exceptional properties. It makes it easy to resell your property and make a good profit out of the sale.
