Rich businessmen pulling out of France as tax-hit looms - FRANCE 24
A flood of top-end properties are hitting the market as businessmen
seek to leave France before stiff tax hikes hit, real estate agents and
financial advisors say.
"It's nearly a general panic. Some 400 to 500 residences worth more
than one million euros ($1.3 million) have come onto the Paris market,"
said managers at Daniel Feau, a real-estate broker that specialises in
high-end property.
While it is not yet on the scale of the exodus of rich French after
the election of Socialist president Francois Mitterrand in 1981, real
estate agents said, the tax plans of France's new Socialist President
Francois Hollande are having a noticeable effect.
Front-running the tumbrels.
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