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Sarkozy to help overseas investors

The planned overhaul of inheritance tax law by newly-elected French president Nicolas Sarkozy could benefit UK investors, according to market commentators.

The struggling French economy is expected to improve once Mr Sarkozy instigates sweeping reforms and his revamp of the country's inheritance tax rules is likely to be one of the most potent policy changes.

While it will result in families of "average wealth" not having to pay inheritance tax on their property, it will also lead to reduced costs for foreign investors purchasing properties from the families of newly-deceased owners.

Niclas Dowlatshai, managing director of Leapfrog Properties Europe, expects a market boost if the inheritance tax laws are altered, reports World of Property.

He said: "If this happens, I believe we will see the property market in France pick up pace significantly and French and foreigners alike will be encouraged to invest.

"The French property market is notoriously safe and if this change happens, it will also offer an excellent tax break. I imagine we will see acceleration in the price rise of property in France and increased ownership and buy-to-let from the French themselves."

Mr Dowlatshai's comments followed a recent survey from lifestyle and travel magazine International Living, which named France as the winner of its quality of life poll for the second year running.

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