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France housing market outlook 2013: European housing crisis? French businessmen leaving in bulk

Posted on 08 October 2012

According to real-estate agents and financial advisers, a large group of high-end properties are hitting the market as business folks are trying to leave France before a stiff tax rise hits. “It’s nearly a general panic. Some 400 to 500 residences worth more than €1 million have come onto the Paris market,” a manager at Daniel Feau, a real-estate broker that specialises in high-end property, told AFP France.
While it is not yet as serious as the exodus of rich Frenchmen after the election of Socialist president Francois Mitterrand in 1981, real-estate agents said the tax plans of new Socialist President Francois Hollande are having a noticeable effect………………………………………..Full Article: Source


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