Leaseback property specialists in France assumed that those wanting to buy into its new Midi-Pyrénées development would mostly be retirees, but the strongest interest has actually come from young professionals looking for holiday homes.
La Durantie is located on the grounds of an elegant, late nineteenth century chateau in the Tarn. When completed, it will feature nearly sixty one to five-bedroom detached homes as well as stylish two and three bedroom apartments.
The exclusive UK sales agent for the development is Abercrombie & Kent International Estates.
The first two homes have a scheduled completion date of February 2016, followed by another six in the third quarter and six more in the fourth quarter.
For buyers who want to rent their properties for at least nine weeks a year, La Durantie has a nine-year leaseback scheme that includes a guaranteed minimum net rental return of 2.6% and a VAT reduction of 20% on the property price.
Available homes range in net price from ¤333,732 to ¤777,530.
The Tarn department of the Midi-Pyrénées is also known as the ‘Tuscany of France’. Low mortgage rates and the pound’s strong performance against the euro is making the region popular with UK families seeking an overseas holiday home.
Investors who buy homes in La Durantie also benefit from the presence of an on-site management company. Staff maintain all communal areas and buildings, and can be hired by resident families to perform repairs and gardening as well as maid service.
Jeanne Boden, Sales and Marketing Director for La Durantie, says that the maintenance services provided to investors eliminate the concerns associated with owning an overseas property. At the end of each holiday they can simply lock up and leave, knowing that managed resorts have very few problems with theft and break-ins.