The French governement has recently announced the introduction of a substantial new tax break of great interest to “buy to let” investors in new properties in the Alps.
The scheme, known as the “Loi Scellier”, has just been extended to include properties destined for holiday lettings.
What you get…….
A reduction in your income tax bill of between 20% and 25% of the purchase price of the property, this reduction to be spread over 9 years.
What you have to do………..
Purchase a new property in a Residence de Tourisme and commit to renting it out for a minimum of 9 years.
What is the catch…………
You need to be paying French income tax. However anyone, no matter where they are resident, renting out property in France is liable to pay French income tax on this income. The scheme is therefore highly relevant to anyone looking to buy new investment property in France with a tax free return on income.
The prestigous Pierre et Vacances development in Avoriaz now qualifies for this tax relief. As a result these properties are selling fast. Contact us to find out more.
