23.07.2009 - Tax change to impact on European property market
From Homesoverseas.co.uk: The dynamic of the European property market is set to change considerably in the New Year, with the UK potentially the biggest loser, according to Pierre & Vacances (P&V) Group. From 1 January 2010 next year, companies and trustees managing investment funds in the Channel Islands, Isle of Man and British Virgin Islands will be able to invest in French property free of the French annual 3% tax on their open market value. This will radically alter the flow of funds within Europe.........Full Article: Source