Unique new villas available in the French Riviera

Le Domaine de la Boursiere is a brand new housing development in the Cote d’Azur. It comprises a complex of sophisticated 3-4 bedroom villas with large gardens in lots of more than 1500 sqm. Each villa has the space and the option of installing its own private swimming pool in order to fully enjoy the Cote d’Azur sunshine.

The architect designed these individual homes to provide a sense of intimacy with nature through light, space, and sunshine. Furnished with all the modern conveniences, these homes tucked away in well-preserved nature have been designed to combine authenticity and quality of life.

All of the villas offer the following exterior features:

• Home security system with controlled access

• Fenced property with private gates

• Optional swimming pool and facilities

All of the villas offer the following interior features:

• Flue lining

• Textured paint

• Inside staircase with concrete with wood nosing

• 40 x 40cm tiles laid diagonally

The complex is in Bagnols-en-Forêt, a commune in the Var department in the Provence-Alpes-Côte d’Azur region in South Eastern France. Bagnols-en-Foret is a peaceful village nestled in the foothills of the Esterel Mountains; surrounded by beautiful countryside and described as a haven of greenery scattered with majestic trees. The village has a great view out over the valleys and hills to the south and west, and on the top of the hill there is an open park where you can have a fantastic, panoramic view out across the countryside. Situated between the upper Var department and the coast, Le Domaine de la Boursiere is an ideal spot for those wanting to combine the pleasures of the seaside and experience the real Provencal village with its windy little streets and ancient chapels dotted around. While the Med invites you for a swim just 20 minutes away, the nearby city of Cannes tempts you with its shops, casinos and restaurants.

Local activities include: Hiking, judo, football clubs, Tai chi, tennis, yoga. Market day is every Wednesday and Saturday morning in the town hall square.

How to get there:

• By car- Just off the D4 between Frejus and Fayence,

20 km from St.Raphael, 25 km from Draguinan

• By plane- Nice International Airport (1 hr), or Cannes (40 mins)

–both serve all major European cities

• By train- Paris, Lyon and Marseille are within easy reach

by TGV from Cannes train station

French Leaseback properties: changes for 2010

Eligibility leases with rents that incorporate a minority variable rate.

Investments in tourist residences are based on a “triangular” theory:
DEVELOPER (D) – INVESTOR (I) – OPERATOR (O)

Put simply, “I” acquires a property from “D” and then signs a commercial lease with “O” who then pays the rent to “I”. Rent is at this point guaranteed, that is to say “fixed”. ie. A property worth €200,000 at a flat rate of 4% rent per annum will therefore be paying rent of €8,000 per annum.

In order to avoid pitfalls, some property managers felt it would be more realistic to use “sliding scales” (variable rates). This usage of variable rates would mean that, for example, managers could guarantee a flat rate of 2.5% over a 9-year period and then at the end of each year, they could pay back a percentage of the residence’s or manager’s turnover to the investors. In this case, there are elements of both “fixed” and “variable” rates.

BEFORE: This “mixed” rent incorporating the two types posed taxation problems in leasebacks located in the ZRR, Zone de Revitalisation Rurale or “countryside under re-development”. The tax would depend on each tax office’s interpretation of the make-up of fixed incomes, so the investor would lose his tax advantage.

NOW: It is no longer an issue as the line is “if the income is erring on the side of fixed rates, then there is no need for independent interpretation.” It means that the tax deduction will not be affected any more within the ZRR.

Changes to commercial lease systems for 2010.
Up until the end of 2009, in the event that the management company could not fulfil its contractual obligations, property investors were required by law to sign a commercial lease with a new management company otherwise they would lose their tax advantages such as the VAT rebate on New Build properties . Now, with the law changes made for 2010, potential investors can avoid tying themselves to a new precarious lease with another management company. Investors can avoid the commercial lease altogether and grant a management mandate to a professional manager. For example, an experienced manager specialising in hotel management or in holiday centres, or if the owners decide to run the whole operation themselves without the involvement of middle-men (although it might be very complicated to do so due to the number of owners in those types of residences who usually have 100 apartments).

There are 2 conditions to this new law:
1)    The so-called “self-management” of the residency must involve at least 50% of it.
2)    The “self-management” of the residence is possible after 1 year only if the owners could not agree on another management company. In practice, this period of 12 months isn’t ideal for residences in difficulties, “It would be necessary to allow investors, who are already without rent, to find a solution to their money woes more quickly,” according to Yannick Aure, the Head of Exhore, (Exploitation d’Hotels et de Résidences).

Yannick, himself a specialist in hotel management, has proposed a management mandate to investors who agree a re-sale price of the lease for a token sum  will receive  the commercial funds of their property in line with a judicial proxy.

At Sextant Properties, we hand-pick the French leaseback developments, making sure that the management companies are sound and will be able to fulfil the rental contracts they sign with the buyers.

Free Alpine Property Leaseback Seminar on 19th January 2010

Registration is now open for Sextant Property’s latest free property seminar on 19th January 2010

This free property leaseback seminar is designed to inform you as to how to choose potential properties and how to get good returns on capital invested. These investments can provide you with a palpable source of income as a holiday home. Additionally, you will be shown the advantages of a buying off-plan and how to avoid the currency fluctuations.

The seminar’s case-study will be luxury apartments in the ski resort of Avoriaz, the gem in the crown of the Portes-du-Soleil ski region in the French Alps. At an altitude of 1800m and over 650km of ski slopes, these luxurious apartments are much sought after. The resort is situated in the mountains overlooking the Morzine valley and is approximately 1 hour by car from Geneva airport in Switzerland.

As well as the obvious delights for both skiers and snowboarders alike, the resort houses a 2500sqm indoor water-park – dubbed “Aquariaz” – a perfect place for both old and young!

The resort is a car-free zone which ultimately makes it a safer environment for young families.

The guest speaker will be Jim Beattie who will speak about the apartments themselves and why property investors should be looking to purchase in this highly desirable alpine area of France.

This seminar is free but places are limited so book now to avoid disappointment.

Date: Thursday 19th January 2010

Price: FREE

Photo Contest with the best image of France

Firstly, all the team members at Sextant Properties wish you a happy New Year!

We start 2010 with a Photo Contest

Bear in mind that it might not be the best picture who will get most of the votes.

If you have something that really catch the eyes of the voters you are more likely to win.

The rules are very simple:
– You send your best photo of France

– The public vote for the best picture

- The winner will get a Magnum of Champagne!

Click here to join the contest

Free Golf property seminar on 7th January 2010

Registration is now open for Sextant Property’s latest free property seminar on 7th January 2010

Come to this free property seminar and learn how to choose investment properties with good returns for a reliable income now and in retirement, the advantages of buying off-plan and how to avoid the perils posed by currency fluctuations.

This seminar’s featured development will be the stunning off-plan development of Pont Royal Golf. Located in the highly sought-after Provence region (which receives over 300 days of sunshine every year), just 30 minutes from the Mediterranean coast and close to the beautiful town of Aix-en-Provence, this development offers residents luxurious eco-friendly apartments and villas set in a beautiful 450 acre park with an 18 hole golf course, excellent sporting facilities, fabulous restaurants and brilliant entertainment throughout the year.

The guest speaker will be Bernard Comptat who will speak about life in his native Provence and why property investors should be looking to purchase in this highly desirable area of France.

This seminar is free but places are limited so book now to avoid disappointment.

Date: Thursday 7th January 2010
Price: FREE

More about Pont Royal Golf

Christmas in France

France can be a truly magical place to spend Christmas. It is an incredibly diverse country – each region has developed its own distinct cultural character and heritage, making for a rich and varied collection of Christmas traditions. Most provinces celebrate Christmas on the 25th of December, as we do in the UK; eastern and northern France, however, also celebrate la fête de Saint Nicolas on the 6th of December. This is a Germanic tradition which is shared by Germany and the Netherlands in which children are given sweets and small presents by St. Nicholas and his helper. France shares many of its Christmas traditions with the UK – homes are decorated with Christmas trees (sapins de Noël), and, on Christmas Eve, children lay their shoes out by the fire in the hope that the Père Noël will fill them with presents and sweets. Mistletoe is frequently hung above doors to bring good luck, and nativity scenes are often given pride of place in homes. Unlike the UK, however, France passed a quaint and rather quirky law in 1962, which ensured that all letters written to Father Christmas would get a reply. (As a result, the workload of French elves permanently employed at the North Pole increased dramatically, with the Elf Worker’s Union ultimately calling for widespread strike action in protest against the extended working hours. The dispute was ultimately settled without Union intervention.)

As in many other countries across Europe, Christmas dinner plays a supremely important role in the French Christmas. Each region has its own traditional Christmas menu, with dishes like turkey, capon, goose, chicken and boudin blanc, a delicacy similar to white pudding. Another festive favourite is la bûche de Noël, or Yule log – a delicious log-shaped cake made of chocolate and chestnuts, harking back to the pagan tradition of burning a log from Christmas Eve to New Year’s Day.

France lends itself especially well to Christmas – the mountain landscapes of the Alpine regions are blanketed by a thick covering of sparkling snow throughout the autumn and winter, and cosy wooden chalets lit by strings of fairy lights with the tantalising scent of mulled wine and raclette in the air are evocative of the festive season. Alsace is also a magical place over winter; its continental climate ensures that Christmasses are cold, with snow virtually guaranteed. Historically, there has been a strong Germanic presence in the region, meaning that Alsace is home to 35 German-style Christmas markets, where visitors can enjoy munching traditional biscuits and sipping mulled wine to the sound of Christmas carols. The market in Strasbourg is situated in front of the breathtakingly beautiful Strasbourg Cathedral, and is of particular interest. It has been running for 431 consecutive years, making it the oldest Christmas market in France, and one of the largest.

Paris also features several charming Christmas markets – however, it is worth visiting the City of Light merely to enjoy the stunning decorations. The city certainly lives up to its nickname – a huge Christmas tree strewn with fairy lights and red and gold baubles is erected in front of Notre Dame de Paris Cathedral, and the trees lining the beautiful Champs Elysees are illuminated in gold, creating a corridor of light leading to the majestic Arc de Triomphe. The Galeries Lafayette, Paris’ most famous department store, is transformed into a veritable winter wonderland, bedecked with twinkling lights. Parisians also flock to the outdoor ice rink which is constructed in front of the Hotel de Ville over Christmas.

France is a great place to enjoy the festive season – twinkling Christmas lights, traditional Christmas markets and delicious regional food are wonderfully evocative, and make for an unforgettable Christmas.

Breaking News – Increased yield now being offered in Le Clos du Rocher development

We are pleased to announce an increase in the percentage yield being offered on the Le Clos du Rocher development in Dordogne.

The yield has been increased to 4.2% ex VAT, with all furniture included, for ALL apartments on this development.

This is a fantastic opportunity for those wishing to purchase property in Eyzies de Tayac, a beautiful 14th century town nestled on the left bank of the Vézère river in a lush, unspoilt valley surrounded by limestone cliffs in the heart of the fabulous Dordogne region which welcomed over 2.9 million visitors in 2008.

OPEN DAY Thursday 14th January 2010

Those choosing to invest here will also receive a NOMAD Card, entitling them to use any of the company’s catalogue of properties for an extraordinary 50 € per week.

Why not visit this stunning development and discover all the Dordogne has to offer?

French ‘off plan’ leaseback property – an investment protected from currency fluctuations

In these economically troubled times, many potential investors are put off by poor exchange rates between the pound and the Euro, preferring instead to err on the side of caution. While this course of action is wholly understandable, they do risk missing out on some great opportunities.

Sextant Properties is currently marketing a leaseback development for sale in the French Alps with a yield up to 4.5% (ref 19547). Having appeared on the market on the 21st September 2009, the development is attracting an overwhelming amount of interest. – as of the 12th November, 47 of the 77 apartments have been sold, and 5 others are reserved.

The 25 remaining properties still offer plenty of choice. It is unlikely that any of the properties will still be available in January. Here is why you can buy today without being affected by the unfavourable exchange rate:

The properties are ‘off plan’, which means that the buyer pays little now. Additionally, taking out a French mortgage will result in monthly payments which are the best way of responding to currency fluctuations.

If you buy apartment number C001 on the market at €175,800 (including VAT) you will need to pay only €154,764 because the VAT will be reimbursed. You can take a 100% mortgage on the price excluding VAT (€154,764) and the property can thus be financed in the following way:

> Due now 5% Reservation deposit: €8,401
> On signature of the mortgage offer, brokers fees €774 to be paid in December 2009
> Just before signature with Notaire, Bank fee €1548 (to be paid in March 2010)
> After signature with the Notaire refund of extra deposit €2,248

For the next 24 months you pay life insurance payments of around €41 per month (subject to approval). The delivery is scheduled in November 2011. You will then start to receive a rental income every three months from La Grange, and this will be used to pay back the mortgage.

Our specialist broker, Athena Mortgages, gave us a quote for this particular property, as follows:

The start date for repayments will be in March 2012. The buyer will need to pay €286 per month from that date. The rental income will be increased every 3 years, and, for this reason, the shortfall will decrease with time.

In summary, the purchase of an ‘off plan’ property worth €175,800 would only require an initial payment of €10,723, which would be paid in several instalments. Industry experts predict that the exchange rate will have improved significantly by March 2012, making the reality of investing in French property far more accessible than most people think.

If you do not want to miss this unique opportunity, contact us on 020 7428 4910 or visit the reference 19547 for more details

Notaire fees and your new property in France

Buying property anywhere is a complex and rather bureaucratic exercise – each country has its own unique collection of quirky customs and obscure conventions that must be followed to the letter, often, it would seem, with the sole purpose of mystifying foreigners. The French property market is more idiosyncratic than most, and, for a Brit unused to the legal conventions involved when purchasing property in France, nothing illustrates this as well as notaire’s fees. ‘Frais de notaire’ are an obligatory feature of any house purchase, and it is important to take them into consideration when deciding how much you can afford to spend on your new home – they are almost never included in asking price featured in property adverts. However, although the fee structure operated by French notaires can seem fairly mysterious and tricky to fully comprehend, it is easy enough to understand in principle. And, of course, as with all legal conventions, if there is anything you are struggling to understand over the course of your purchase, just ask!

A notaire is essentially a cross between a solicitor and a town clerk. They play an extremely important role throughout the purchasing process, acting as an advisor and making sure that you are aware of all the formalities that need to be completed. It is their job to ensure due dilligence – basically, they exist to oversee the paperwork generated by a property purchase, and to ensure that all proceedings are in accordance with French law. As well as acting in property conveyancing, they also have a role to play in inheritance procedures, marriage contracts, wills, divorce settlements and the letting of property.

Notaire fees, or ‘frais de notaire’, are in part, as the name suggests, fees paid to the notaire in return for their services – they are not employed by the French government, so the notaire earns his or her income directly from the fees charged for their services. However, the notaire is not the sole beneficiary. The majority is made up of fees due to the Treasury, which the notaire is responsible for collecting, and professional fees owed to the land and building surveyors, among others. As a general rule, for a purchase without a mortgage, the percentage of notaire’s fees that go to the notaire tend to be around 1%, although a scale system is in operation – the higher the sale price of the property, the smaller the cut taken by the notaire. For example, for a purchase between €17k and €30k, around 1.1% of the ‘frais de notaire’ goes directly to the notaire, while for a purchase above €30k, the notaire will only take around 0.825%.

The rates for notaire fees are fixed by the French government and are determined in relation to the sale price of the property, and, as previously mentioned, can be rather confusing. While the percentage of the fee going to the notaire does not change whether the house in question is a new build, leaseback or an older property, the age of the property is used to calculate the total fees due. Broadly speaking, they are usually between 2 and 3% for an Off Plan or ‘new build’ property – that is to say, one that is less than five years old.

Here is a good calculator which will give you an estimation of the Notaire fee you need to pay: Calculator

Start the après-ski early on the ski train to the French Alps

As the leaves continue to fall and the days become ever shorter and increasingly cold and miserable, the average person naturally begins to entertain thoughts of escaping the damp gloom of the UK. Ski resorts have a sort of inherent glamour – names like Chamonix, Val d’Isere and Courchevel instantly evoke images of roaring fires, of glittering expanses of snowy slopes, and of attractive people with rosy noses and gleaming white teeth laughing gaily as they tuck into vats of fondue. Even resolute non-skiers born utterly devoid of any sense of balance are not immune to daydreams of alpine frolics, finding themselves being seduced by the idea of après-ski antics and melted cheese. Unfortunately, in reality, skiing holidays invariably entail a considerable amount more hassle than they do in escapist daydreams; getting there involves either driving for hours along winding mountain roads, or grappling with bulky ski-wear in a vain attempt to make it all comply with airline baggage restrictions. Unless you possess the driving skills of Clarkson and a tardis-like suitcase, or resort to wearing your salopettes and snowboard boots on the flight, getting there can be a rather stressful experience. There is now, however, a third option – one which will allow you to travel down to your chosen resort in comfort and style, with minimal fuss.

The Eurostar is arguably one of the best inventions of the 20th century – it is without a doubt the best and easiest way to hop between London and Paris. It is sleek. It is comfortable. It is fast. It is entirely carbon neutral. It is very, very stylish. And, from the 19th December 2009 and the 17th April 2010, it can whisk you from St. Pancras International or Ashford International to the ski resorts of Moutiers, Aime-la-Plagne and Bourg-St-Maurice at a seriously speedy 186 miles per hour. If booked early enough, prices are competitive – a Standard class return journey begins at £149, while a Leisure Select ticket, including meals, drinks and extra comfortable seating, starts at £229 return. One of the many advantages of using the Eurostar Snow Train service is that it deposits you on the doorstep of your resort – it is merely a case of hopping on the train in London or Kent, settling back to enjoy the stunning scenery, then hopping off the train at the other end, ready and raring to hit the slopes. Either opt for the day train, which departs from St. Pancras at 10am and arrives at its last stop in Bourg-St. Maurice in time for dinner around 8 hours later, or the overnight train which leaves at 8.30pm and arrives at 6.30am, allowing you time to grab breakfast before hitting the slopes. It is worth taking into consideration the fact that if you decide to travel on the night train in both directions, it will allow you to spend eight days on the slopes rather than the usual six. Those travelling with children needn’t worry about sharing the train with crowds of drunken revellers, either – Eurostar will be imposing limitations on the amount of alcohol passengers can bring onto the train with them, so a restful journey is assured. Snow Train passengers also benefit from an increased luggage allowance, allowing you to pack clothing and equipment for the whole family without resorting to wearing it.

For avid skiers looking to invest in the French property market, there is plenty of affordable accommodation in the most popular Alpine resorts, conveniently located for the Snow Train service. Fully furnished leaseback apartments in a new 4 star development in Les Arcs cost between €222k and €428k, have between one and three bedrooms, and come with access to a superb leisure complex including a swimming pool, sauna, hammam, jacuzzi and fitness room. The complex is a stone’s throw away from the station in Bourg-St. Maurice, the last stop for the Eurostar Snow Train, making it unbelieveably easy to travel from the UK in comfort without having to haul mountains of ski equipment between the airport and your resort. As all the leaseback apartments come with a guaranteed return on your investment of between 3.8% and 2.5%, dreams of a cosy apartment in a winter wonderland have the potential to become a reality.