Expert Insight, Breaking News, and Insider Stories on Real Estate in Paris
France may have led the way in imposing capital gains tax (CGT) on sales of second homes but the UK is now following suit.
President Hollande has made good on his promise to pull back on the dramatic increases in taxes imposed on property sales in France over the last two years. In releasing the details of the new plan, Budget Minister Bernard Cazeneuve cited the “perverse effects of the current system,” specifically the significant decrease in the volume […]
The French press is abuzz with stories about 1+ million euro properties hitting the Paris real estate market in recent weeks as a result of looming tax-hikes. What does this mean for the non-resident Paris lover ready to invest in a Paris pied-a-terre? Could it be a short-term buying opportunity? Paris Property Group takes a look at the silver […]
Last Thursday, the Chambre des Notaires in Paris held a special meeting open to the public to discuss the recent changes to the wealth and capital gains tax laws implemented by President Hollande. Our managing partner, Kerstin Bachmann, was there in person to take notes.
With the publication last Friday of the Amended Finance Law (Loi de Finance Rectificative 2012), the French government instituted an “extraordinary wealth contribution” retroactively effective as of January 1, 2012.
President Hollande’s proposed income and wealth tax changes have caused at least some wealthy French residents to start looking for greener pastures with less burdensome taxes.
Wealth Tax Reform Beginning in 2012, if your net wealth in France exceeds €1.3m, the total value is subject to wealth tax. Previously €800K could be exempted, but not anymore. If your property is valued at less than €1.3M no wealth tax reporting is required. The good news is that