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Central Paris Leaseback Investment Apartments
Listed by Jean Philippe
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Agency Ref No:
City: Paris
Area: Nr Place de la Bastille
Region/State: Paris
Country: France
Locality: Urban
Number of Bedrooms:
Number of Bathrooms:
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Type: Apartment
Living area:
(m˛)
Status:
For Sale |
Description:
Freehold leaseback apartments in Central Paris from Pierre & Vacances with 4% yield, which is above the Parisian market average. Central location in one of the world's hottest investment locations - Paris - with annual property price growth of 9% in 2007. Strong finance options still available on French property market with high loan to value ratios at low rates.
Paris Bastille Marais is a low-risk property investment in Central Paris. Leaseback terms are for 9 years with guaranteed net rental return of 4% per annum, index linked, and paid quarterly. It is a hand-off investment property, the management of the property being handled by Pierre & Vacances - Europe's leading leaseback property developer and management company.
Studio and one-bed apartments are available in the 136-room Paris Bastille Marais complex. Prices for the leaseback apartments are between 240,000 Euros and 485,000 Euros.
Finance Options:
90% Interest Only Mortgage -- 30,000 euros total outlay -- 300 euros / mth top up
100% Repayment Mortgage -- 20,000 euros total outlay -- 685 euros / mth top up
Up to 100% French finance available (as of May 08) Finance can be obtained for 80% of the total price of the property, including the purchase taxes on a general basis. Fixed rates for up to 25 years can also be arranged *all loans subject to status.
Cost of borrowing: French interest rates are 1-2% lower than the equivalent UK rates. Each 100,000 costs circa €650 euros per month on a repayment basis over 25 years or €425 euros per month on an interest only basis.
Income Tax: Income tax liability of 25% is levied for French non-residents, who are members of the EU. This liability can be offset against:
•Purchase costs
•Furniture
•Interest on loan
•C.80% of value of property
Limited income tax: It is possible to completely offset your French income tax liability over a period of 20 years as a non-resident* depending on how you structure the purchase. P&V will provide an accountant for the first year to set up your tax identity and pay the costs. Owners should budget €300 per annum thereafter for an accountant to file their tax return.
No Capital Gains Tax after 15 years: Rate of 16% for EU residents. Reduces from year 5-15 by 10%
each year so is effectively nil after 15 years*.
*Please verify your tax situation with a qualified advisor.
Investment Summary
- Property Type: 108 studio and 30 one bedroom apartments
- Annual Rental Yield: 4% index-linked of the purchase price paid quarterly net of all management charges and running costs
- Net Prices from €250,000 includingfurniture
- Annual Property tax €10 per square metre
- Completion date Ready now
- Reservation deposit 10%
- Est. upfront costs 8% including Notary fees,stamp duty and taxes
- Maximum mortgages 100% of the purchase price on a repayment basis 95% approximately of the purchase price for Interest only (subject to status).
- Airports Orly approximately 20minutes away.
- Metro/Tube station Bastille, Chemin Vert,Breguet-Sabin and Richard Lenoir all 5 minutes walk
Home Features:
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Locality Features:
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Agent Contact Details:
Jean Philippe
Phone: +44 (0) 1525 635191
Mobile: +44 (0) 7854 870155
Contact by email: Click here >>
Contact Agent
Homepage: http://www.propertymagnate.com
Info: Specialists in French leaseback property. Leaseback property listed includes ski leaseback investments in the French Alps and leaseback investments around the French coast. Contact is Jean-Philippe
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