Chinese Buying French Luxury Property - A New Trend !
October 29, 2010 - France
French luxury property specialist, Phillippe Benoit du Rey, the managing director of Aruzzrealestate - Closed his first major property transaction with an affluent Chinese businessman on September 15, 2010. This transaction was also the first recorded purchase from a China national in the French Riviera.
'September 15, 2010 was an historical day for China on the French Riviera.On this day, a shanghaiese entrepreneur signed the final agreement which made him the owner of a luxury villa, with amazing sea views in the city of Nice.This transaction was apparently the very first ever recorded purchase by a private chinese citizen on the French Riviera,' says Phillippe Benoit Du Rey.
'A huge number of international jet setters and famous industrialists or politicians from all over the world have a villa on the French Riviera, and it is a clever move to connect with them while purchasing also a villa whose value will never decrease in such places » says Philippe, an HEC alumni, the best french business school partner of Tsingua University.And not only France is quite cheap compared to many chinese cities, but the life style in Nice, Cannes, St tropez, Monaco is unique and famous worldwide.
Chinese buyers typically may feel Europe is very far, and they may have concerns to invest in France: France has a very safe and secure banking and notary system, very protective of buyers, and the value of nice villas on French Riviera has never really suffered from any crisis.Once you are owner of a property in France, some Visas can allow you to stay full time in France and are easy to get, may be easier that Canada immigration visa.
Phillippe is seeing more and more interest from the affluent Chinese seeking to take advantage of relatively 'low' property prices in France's luxury market. China's appreciating currency, 'bubbly property market', and citizens desire to 'expatriate wealth' to diversify their portfolio - are all contributing factors to the rise of this new phenominon.
Phillippe advises that mainland Chinese select an agency having a branch in China, and the international country. A company that offers an integrated legal, banking, and cultural management services for these type of 'ultra-rich' Chinese buyers.
Phillippe Benoit du Rey
This article was published by PropGOLuxury.com
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