Kuvera Properties has launched a range of apartments, starting from 203,000 and holiday cottages starting from 317,000, at the Maison de Biarritz four star development at the Country Normandie Aqua Resort & Spa, near Deauville in Normandy.

The Irish company has negotiated an exclusive deal with Maison de Biarritz where it has secured a 10% discount (equivalent to 7.3% net after costs) on the French launch price for the Irish launch this week. To further encourage Irish buyers Maison de Biarritz will pay and reclaim the VAT applicable and is also offering to lease back the dwelling while offering investors a guaranteed index linked 5% per annum rental yield.

"The major benefit to our investors is that a deposit of 5% down is all that is required. As you can only secure an 80% French mortgage, all former French investors have had to find 20% of the cost of the development plus they have had to finance the VAT payment. Hence there has been a large initial cash outlay required. By contrast, the deal that Kuvera Properties has secured allows our investors to benefit from a generous discount of 10%, to disregard the VAT (and) a guaranteed 5%pa rental return for the first 11 years, " managing director Kieran Murphy said.

For further information: Kuvera Properties 01-640 1815;

www. kuveraproperties. com