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France Welcomes Foreign Property Buyers

The French government is selling off state-owned property assets. French openness to foreign buyers makes for an interesting contrast with the xenophobic reactions to foreign investment in Australian property markets:

All buyers, French or foreign, are welcome to bid for the properties but there will be checks to ensure that they acquired their money legally…

Heritage bodies welcomed the sale plan as a way of ensuring the improvement of neglected properties.

Francis Cahuzac, the head of the Commission for the Protection of Historic and Rural Heritage, said: “What matters is that the properties are protected, never mind if the owner is a foreigner or the Government. In most cases, foreigners are very good at restoring old buildings.”

posted on 10 June 2010 by skirchner in Economics, Foreign Investment

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