I think a great place for an investment property at the moment is NICE on the Cote d'Azur in the south of France.

Nice was always a British favourite during Victorian times, and is still popular with the French as a second home or retirement home in Nice,Cannes and Antibes. Nice has always been self funding, but now President Sarkozy is best pals with the Major of Nice so the government are putting millions into development around Nice airport.

They intend to have this area like a 'mini manhattan' as a business and conference centre, similar to Sophia Acropolis in Antibes.
The TGV will be running to Nice from Paris in 2010, the tramway system is a great success from Vieux Nice, since Oct last year.
The intention is to make Nice, the 'HUB OF THE MED'.

Already Nice airport services BA, Easyjet and many routes, the largest after Paris.
Ferries up and down the med, etc. Great Hospital care (Jolie/Pitt) baby born there! The area to look at is: drive from the Prome nande des anglais go towards Nice airport and further on towards the Var river. look into the hills.

I have bought an off plan apt on the Corniche de Magnan in Nice (north of Promenade des Anglais )and I now have rented it out for 3 yrs, it has a ' boxe' (closed garage) and 'Cave' (storage room) plus a heated communal swimming pool, and gaited 24/7.

It is very rare to get a garage in Nice, so make sure you get one as you can rent at a premium.
If you rent long-term in France, you rent unfurnished, if short term rental then it must be furnished.

There are tax implications in this, if you intened to hold on to your investment long term, after 15 years there is no longer any capital gains tax.
Land is scarce now, so get in there while the going is good.

You can even enjoy searching ... there are fantastic restaurants in Vieux Niceand around,wonderful wine, lovely sea and weather.
However, this is not just a 'beach' place, as I know that our Neil doesn 't like them, but this is a commercial, cultural and business centre, and a great investment place.


LynnR

Hi Lynn

That's interesting, but as Nice is already an established location what are current prices like?

Is this new investment likely to boost them by enough to make it attractive? You clearly think so and have experience of investing there already so fair enough, but it would be good to know what level prices are at now - and by how much you think they will rise over the next 5-10 years, say?

Thanks.

Yes of course this area is established, but it is going under huge development especially as I said to the West of Nice. 3 years ago the capital appreciation was 15% per annum, and due to the new tramway, the area around Massena went up 40%!. I think in general the prices are currently around 12-14 % pa but after they have developped the new business centre, the new students quarters, the new by-pass and a new luxury marina, you will see the prices soar. I am not god so I can't predict what the prices will be in 3 yrs hence. Mortgages for foreigners are 85% LTV. Rental yield approx 8%. I would say that depending on the position and the spec of the apartment prices will be from €175K.
LynnR

Interesting what you say. I have investigated prices in that area myself and confirm that they have increasedf at 15% per year for the past few years but what are the property prices like now with the credit crunch and many banks now going bust.

What do you know of Roquefort Les Pins, especially now as I am considering that area myself.

Hi. I'm in france at the moment and I am typing on a french tyhpewriter so excuse errors. I don 't know Roquefort les Pins, but I know that it is near Sophie Acropolis and Cannes, so you would be able to rent and you have the autoroute A8 for access to Nice. Have a look on this website for info www.ville-roquefort-les-pins.fr
You will have to keep listeneing to the french news to find out ifn Sarko is going to tax property rentals from next year. You can still get mortgages, but like everywhere with difficulty, especially if you are self employed.
Lynn

I would be buying a property through a SCI and was under the impression that the income profit was taxed anyway. I have not heard of this new tax that may be introduced. How will that work with the current situation.

on another point are they going to build any car parks as they are definately in short supply.

Hi Lynn- glad to read your notes on Nice. I plan to invest there and needed more specofics.

many thanks Deepak

My Australian employer had invested in Nice. He acquired 6-door apartment last June 2008; right now it is fully occupied. I visited the place and according to what I see it’s really an advisable place for an investment. As a matter of fact, he’s already on his second business plan which is looking for another property in France. He purchased his apartment in www.frenchventure.co.uk. As I was checking the website I found lots of properties in affordable prices; I also talked with their sales agent in behalf of my employer. So far, I think we'll to close another deal in much reasonable price!