Additional Photos
Extra photographs: Click a thumbnail image to view the full photograph
About the Apartment
- Property: Apartment (Leaseback)
- Bedrooms: N/A
- Bathrooms: N/A
- Receptions: N/A
This 4 star development due for completion in 2009 is only minutes from the Croisette in Cannes and offers spacious studios, 1 and 2 bedroom apartments situated in a quiet street close to shops and restaurants. Cannes hosts many festivals and conferences attracting both business & tourist rentals.
Features
This prestigious development of just 60 apartments in the centre of Cannes is only 400 metres away from the Croisette, but is situated in a quiet one-way street. With fully furnished and elegant spacious studios, 1 and 2 bedroom apartments for sale, this 9 year leaseback scheme offers the investor:
A guaranteed net rental return of 4.5% inclusive of:
Management Fees
Condominium Charges
City Taxes
Maintenance Fees
Insurance
Prices:
Studios from 208,400 euros (excl VAT)
One bedroom from 289,700 euros (excl VAT)
2 bedroom from 424,500 euros (excl VAT)
Leaseback Information
A lease-back plan is a scheme where you buy an apartment in a service apartment building, then grant a management company the right to use it for short-term tourist rentals, this usually over a period of 9 years.
You receive in return major tax breaks from the French administration as well as a guaranteed rental income for the duration of the contract.
Anyone can buy a lease-back property , there are no restrictions for non residents.
The buyer pays the asking price for an apartment, less the VAT (19,6%) which is refunded.
In return for a lease-back contract to a management company the buyer gets a net guaranteed return of 4 to 5% depending on the location. These returns are net during the term of the lease, i.e. means net of the running costs, as well as index-linked.
Everything is covered, from management fees to city tax, water and electricity charges, heating and air conditioning, even down to replacing the furniture and these over 9 years period.
The French banks lend up to 80% of the property value with fixed rates over 25 years period, the present rates are below 5 %. By using leveraging you can invest a relatively small amount and yet reap the gains on a large amount. The lease-back programs are located in the best locations in terms of capital-gain potential and mostly in Paris and in the French Riviera.
The lease-back contract provide for you to occupy the property yourself as much as you wish but your rental income, of course, will be reduced accordingly.
Plot Size: N/A
Location
- Beach
- Coastal
- Luxury
- Historic
- Events / Festivals
- Sightseeing
The development in located in a central but quiet street in Cannes, some 400 metres from the beach, numerous shops, restaurants and the Palais des Festivals where several conferences, exhibitions and of course the famous Cannes Film Festival are held each year. This unique development of just 60 apartments offers the investor excellent rental returns as well as one of the highest capital gains potentials in France.
Currency Converter
The sale price is quoted in (EUR €). Show approximate sale price in:
From EUR €208,400 = GBP £164,795*
Overseas Mortgage Calculator
Disclaimer:
Property Reference: . This listing is a property advertisement.
PropertyIndex.com does not control
the content of the advertisement and makes no warranty as to the accuracy or
completeness of the advertisement, or any associated or linked information.
This property advertisement does not constitute property particulars. The information is
maintained by Northern Property Investment Agency.
Please contact the owner, selling agent or developer directly to obtain
any information.