Hi David,

On Mon, 2 Jul 2007 09:50:05 +0200
"David \(Normandy\)" wrote:

The French property market doesn't have the high inflation of the UK housing
market, which is perhaps a good thing. There are several reasons, but
basically the taxes and estate agent fees are very high. They are on a
sliding time scale which makes it punitive to sell within two years after
the initial purchase (especially with having to share any 'profit' with the
previous owners). But the seller is still heavily taxed if selling within
five years of purchase.

Hm. Our property has increased more than eight-fold in value in 15 years.
That's a pretty healthy inflation, for the deep country. Of course there has
been renovation, and the new autoroutes help -- Normandy has been cut off from
the rest of France for big roads, since the Duke of Alencon supported the
Monarchy during the revolution.

Inflation in Paris and region is currently around 8%, but around 70% over the last 5 years.
I believe this is comparable to the London market.

We looked at selling on our old stone barn with a bit of land for someone to
renovate, but the amount of tax and fees we would have to pay made selling a
none starter, so it looks like it will just continue to crumble into
dereliction, like most old stone barns in France.

The buyer pays notaire's fees and taxes, so long as you wait the requisite amount
of time -- to show you're not a "speculator" or some other "anglo-saxon liberal
capitalist" (local terms of derision) -- you should be OK.

With respect, I think "most old stone barns in France" is a bit strong. I think if
you look more closely you'll see that many of these buildings are tied up in
inheritance litigation, which prevents anything at all being done with them.
(The inheritance laws are a certifiable disaster). At least that's the case around
here. Every other little barn or fermette is sold in a fortnight after coming to
market, or more often doesn't hit the market at all but sells by word of mouth.

Anyway, all this perhaps OT for urg. On the original topic, you can certainly give
the seedlings away to your neighbors. I'd take 10 or 15 off of you, if you like!

-E
--
Emery Davis
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