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Rich businessmen pulling out of France as tax - hit looms

Rich businessmen pulling out of France as tax - hit looms

AFP
07 OCTOBER 2012

(AFP) A flood of top-end properties are hitting the market as businessmen seek to leave France before stiff tax hikes hit, real estate agents and financial advisors say.

"It's nearly a general panic. Some 400 to 500 residences worth more than one million euros ($1.3 million) have come onto the Paris market," said managers at Daniel Feau, a real-estate broker that specialises in high-end property.

While it is not yet on the scale of the exodus of rich French after the election of Socialist president Francois Mitterrand in 1981, real estate agents said, the tax plans of France's new Socialist President Francois Hollande are having a noticeable effect.

Read more: http://www.france24.com/en/20121007-rich-businessmen-pulling...



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Nice way to hand top of the

Nice way to hand top of the line properties cheaply to members of the global banksters for use as a crash pad in Paris. Much better they should own the top properties, rather than some pesky entrepreneur who does something as lowly as work for a living, instead of servicing Bernanke in return for bailouts.

Too bad

That we are not a nation devoted to lowering taxes, we might get a few of them here otherwise.

My

sentiments, exactly...

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