Luxury French Government Property Up For Grabs

The French government are selling of 1700 French properties in a bid to save money in maintaining the French buildings some of which include a grand 1800 Chateaux.

 

The opportunity is open to overseas property buyers who could be set to won something very unique in France. Budget Minister Francois Baroin said in announcing the sell-off Wednesday emphasised that no dodgy money would be accepted and that cash must be clean. Any buyer will be subject to thorough background checks

The 1,700 properties for sale by the French state has been a result of the French government debt and a desire to shed dilapidated, expensive-to-maintain buildings and chip away at the country’s record-high debt.

“Contributing to the reduction of debts” is part of the reason for the sales, Baroin said, though he wouldn’t give an overall estimate of the value of the 1,700 properties. And it does not appear that the state’s real estate profits will make much of a dent in France’s euro1.49 trillion debt, which is worth about 77 per cent of the country’s gross domestic product, according to the state statistics agency.

The properties in question include chateaux, such as one in Thonon-les-Bains built in 1800 and perched on the shore of Lake Geneva at the foot of the Alps. Another is a royal hunting lodge and guest house built the century before in the Saint-Germain-en-Laye forest west of Paris. “Buildings unoccupied for many years. Needs restoration,” reads the government’s listing for that property.

A large chunk of the properties for sale belong to the Defence Ministry, which is undergoing a sweeping rehaul to make the military smaller, more modern and technology focused. The Defence Ministry itself is moving to a new facility under construction on the southwest edge of Paris that some dub a “Pentagon a la francaise,” after which the old Defence Ministry buildings along the elite, Left Bank artery, Boulevard Saint-Germain, will be sold off.

 

Buying or selling French property Homesgofast.com can help

 

  

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