The lease agreement:

The freehold apartments will be leased for 9 years by one of the largest French tour operators. This is a leaseback investment with occupancy offering a net rental yield between 3.80% and 4%.

You will be able to use your property or similar one (depending on availability) in your residence or any other management company’s residences for up to 35 days per year (from 2 to 7 nights) with a tariff between €50 and €150 per week (depending on property you will occupy) excluding high season.

Besides this, you do enjoy a 10% discount for high season usage on public tariffs in the residence or any other residence.

Rents will be payable on a quarterly basis, and will be linked to inflation. Rent-Index maximum increases of 1.5% on average per annum.

The Management Company:

The residence is fully managed by Village Centre Gestion, it is a company specialised in the management of apartment hotels and tourist residences.

It is a family business known in the regional level of France; Village Centre Gestion has 25 years of experience that helped them to build up their know-how and expertise in the management of tourist and hotel residences.

The VAT refund:

By signing a management agreement for 9 years, the VAT of 19.6% that is included in the purchase price of all new properties in France is fully refundable to the owner by the government following completion of the development. VAT paid within the purchase price of the parking and furniture package will also be refunded.

The Stage payments:                         

Reservation Contract - 5%- Total 5%

Start of building works – 25% - Total 30%

Completion of foundation work – 5% - Total 35%

Flooring of ground floor – 30% - Total 65%

Completion of the roof – 5% - Total 70%

Completion of carpentry – 20% - Total 90%

Completion of work – 5% - Total 95%

Handover of keys - 5% - Total 100%    

Reservation Process:

In order to take a property off the market, a 5% deposit will be requested, based on the total price including VAT. This deposit is fully refundable if you cannot get a mortgage. The funds will be transferred to the notary office in charge of the development and will only become available to the developer upon signing of the final contracts.

Full details of the buying process and the relevant parties involved will be sent to you upon request.