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THE French Riviera was described by American Vogue as "the secret Mediterranean" and as housing demand in the North of France has become stable more and more French people are heading south, both to live permanently and to buy second homes. In France the leasehold system is popular with buyers, especially the Irish, as it guarantees a certain level of consistent income; however, the scheme is only as good as the company running it and the area's ability to attract tourists.
Agents Colliers JacksonStops have teamed up with a large established development company and Resid'hotel, one of the largest holiday operators in France to launch a new leaseback opportunity in Frejus, a coastal town in the Var region of the Cote d'Azur.
Frejus is a Roman built medieval town, 20 minutes from both Cannes and St Tropez and 35 and 90 minutes from Nice and Marseille airports respectively.
The development, called Residence de la Tour de Mare, is situated on mature landscaped parklands and consists of 60 apartments.
Fifty-five will have a terrace or balcony and apartments range from studio to threebed. The Residence will be completely refurbished and will have a 10-year building guarantee.
Prices range from 92,000 to 360,000 (excl VAT) and the leaseback offers both personal usage and a guaranteed rental income of up to 4.3% NET over an 11-year period while 80% funding is available through local French banks.
Further information: Colliers Jackson-Stops 01-633 3700;
www. colliersjs. com
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YOU ARE HERE: 11 November 2007 / tribune.ie / 2007 / 09 / 23
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