A New Visa Proposed for Foreign Second Home Owners in France

 

There are a lot of home ownership myths out there for those who are seeking to buy a property in France. One of which we hear most frequently is the assumption that if you buy a home in France, this automatically allows you to come and stay for as long as want.

Unfortunately, this isn’t the case as the same wouldn’t apply if one wanted to buy in North America or the UK but with France being such a wonderful travel destination, we can see how there might be some confusion.

With that, there is some good news on the horizon.

Second-home owners (or about to be owners) in France who are not French nationals or legal residents now have the chance of obtaining a special visa so they can completely enjoy their second homes.

Senator Corinne Imbert submitted an amendment to change an upcoming Immigration Bill (Article L. 312-2 of the Code on the Entry and Residence of Foreigners and the Right of Asylum) that “Any foreign national who owns a secondary residence in France may apply for a very long-stay visa authorizing him or her to stay on French territory for a period not exceeding six months per year. This visa is valid for five years.”

The purpose of this amendment is to allow foreign nationals who own a secondary residence (or who plan to) in France to apply for a very long-stay visa authorizing them to stay in France for a period not exceeding six months per year.

This is because of Brexit, for all the British who own homes in France and have found themselves without a visa, when before Brexit, a visa was unnecessary.

The senator commented that “They’ve been here a long time and are really integrated into the life of our villages, including the local associations, so it is important.”

This new visa would work well for non-EU nationals with second homes in France (or those planning to buy here) who can’t stay longer than 90 days under the current visa-waiver program but don’t need or want to commit to a long-stay visa renewable annually in France.

While the amendment was created primarily for the British, it must be available for all non-EU foreigners to avoid being discriminatory.

The campaign has the support of many French politicians, including the Member of Parliament for the Department of Manche, Bernard Sorre, who called the 90-day rule “penalizing for property owners who participate in the local economy, take part in associations and restore old buildings.”

Since this new visa proposal is on the table, this is a good sign that a positive change is coming.

We will keep you informed of any updates.

French Riviera Real Estate Options Eight

For the month of March, we are heading back to one of the most sought-after locations in the Cote d’Azur, the beautiful peninsula of Saint Jean Cap Ferrat.

Whether you are looking for a vacation villa rental or want to buy a property here, this is the ideal place to be as its history and breathtaking surroundings offer the true essence of what the region is all about.

As a real estate investment, this is the prime spot to be looking at as demand has always been high, it is recession-proof as properties tend to either stay at the same high value but for the most part increase as people from around the world have discovered this area.

The peninsula offers a community feeling, is extremely safe and secure, and just visiting the peninsula feels like you are somewhere special for a holiday.

With that, here are three property choices that have recently come on the market that we have chosen situated in the village.

 

Saint Jean Cap Ferrat - 1,395,000 EUR

Immaculate 2-bedroom apartment in the port of Saint-Jean.

Welcome to this thoughtfully renovated apartment centrally located in Saint-Jean. Situated on the 1st floor in a well-maintained condominium, this apartment boasts approx. 70 m² interior space with additional approx. 5 m² of the balcony with idyllic sea views over the port of Saint-Jean.

The condominium is situated centrally within the village and provides a convenient walking distance to all the facilities you need and including the reputable Paloma beach. Easily accessible by car, and the condominium provides ample safety.

The condominium is equipped with an elevator. Upon entering the apartment, you are welcomed by an open-plan living/dining area that flows seamlessly into the kitchen and the balcony. The kitchen is fully equipped and features a practical layout that is perfect for entertaining guests.

Furthermore, it comprises two well-sized bedrooms with views into the back gardens, two bathrooms finished with marble flooring, and one guest WC, and comes with an indoor parking place and storage unit adjacent to the parking.

The apartment is equipped with reversible air-conditioning throughout for cooling and heating. In summary an apartment that provides a convenient lifestyle for both main residents and secondary homeowners to enjoy their best holidays in Saint-Jean-Cap-Ferrat.

Saint Jean Cap Ferrat - 5,750,000 EUR

Facing the village beach and port, triplex property with a sea view is on the market.

Area: 167m²

7 room(s)

5 bedroom(s)

Better than an apartment and more practical than a house, this triplex villa has a large roof terrace, and a sumptuous view of the sea, and the port.

This villa is located in front of the beach and port of Saint Jean, and is perfect as a secondary home to welcome your guests or family.

This triplex villa is built on two floors and benefits from a large roof terrace with a swimming pool, a solarium, two living rooms, and five bedrooms in total.

On the first floor, you will find a living room with a kitchen and three bedrooms. On the second floor, is the main living room with a terrace, a separate kitchen, a master bedroom, and a fifth bedroom.

A garage and a parking lot complete this property.

Within walking distance of all local amenities.

Saint Jean Cap Ferrat - 5,900,000 EUR

In the immediate vicinity of the port. Luxurious property completely renovated in 2023 on a flat plot of 695 m² including a main villa of 202 m², a swimming pool, an independent house of 60 m² including a 1 bedroom apartment with sauna and a closed garage of 17 m².

The main villa is made up of 3 levels served by an elevator. At the garden level: large terraces, a living room of 59m², a large independent kitchen with a pantry, and a wine cellar.

On the 1st floor: 3 bedrooms with fitted wardrobes and terraces, 2 bathrooms. On the top floor, a lounge and bar area with a superb 25 m² roof terrace with an unobstructed view of the sea and the mountains.

An exceptional property with high-end services close to the shops, restaurants, and beaches of the Cap Ferrat.


If you see a property you would like more information about or have something more specific in mind you are seeking, feel free to connect with us.

Plage Keller Restaurant - Cap d'Antibes

Last week after a property viewing with a client, we decided to discuss the estate further at a local restaurant. Fortunately close by for us was Plage Keller, an incredibly well-known seaside restaurant on the beautiful and historic peninsula of Cap d’Antibes.

For all the years I have lived in the Cote d’Azur, I was surprised I haven’t visited the establishment sooner. It was by luck we happened to be there on opening day for the season, and from the minute we stepped down the few steps onto the main terrace, we were graciously welcomed by the staff, and the restaurant, having only opened two hours before, was already buzzing with activity which says two things - they were missed throughout the winter months and this is definitely the place to be.

We had the choice to sit inside or outside next to the sandy beach, but since we were still in business mode, the small group of us chose to sit inside, where we were given a table by the large windows offering us spectacular, panoramic, Mediterranean Sea views with parts of the peninsula on either side of us.

In the far background of the sea were the still snow-capped mountains, along with the seaside city landscapes of Nice, the Saint Jean Cap Ferrat peninsula, and beyond that the Tête de Chien above Monaco. It was breathtaking and added something really special to the restaurant environment, allowing one to relax, no matter if you were talking business or also just enjoying lunch with friends and family.

The employees of Plage Keller were certainly on top of their game, and if there was anything perhaps going wrong for them with it being opening day, you definitely didn’t pick up on it as we had numerous attentive waiters taking care of our every whim, and with us at the table speaking a variety of languages, they could without hesitation switch it up to whatever language the client spoke to them in.

The menu has a wide variety of food, drink, and dessert choices, very much in sync with not only the stunning beach location but also in refined rhythm with the character of the French Riviera.

Our small, group, being of different nationalities ordered, fresh seafood, and Italian pasta, and I had the French version of tartare de boeuf with accompanying side dishes. Even though this was a business meeting, the ambiance of the restaurant helped to quickly soothe our work thoughts and define us more as friends, soon we were all taste-testing each other’s dishes, in full agreement that it was all delicious.

Plage Keller has ample space both inside and outside on the terraces at the beach, and although the restaurant was busy when we arrived, we did not feel rushed in the least, in fact, the opposite, we were encouraged to relish this established restaurant by staying for as long as we would want.

Those who know me, know I don’t often write about restaurants, but if I do, that means it is highly recommended.

Plage Keller is very reasonably priced for the array of mouth-watering, fresh food items available and overall, the experience alone in such a unique, wonderful natural setting is something you would want to write home about.

I cannot wait to visit again this season, and I suspect once the height of summer arrives, and given the prime location, the restaurant will be bursting so I would advise you to book your reservation ahead of time with Plage Keller.


Photos credit: Plage Keller

Monaco & Wealth

Not surprisingly, it has been recently noted in a new report by the human data agency Altrata that more ultra-high-net-worth individuals have chosen to make Monaco their home, by population density, than anywhere else, with one in every 39 homeowners being classed as a UHNWI.

UHNWI is an acronym used quite frequently in the region due in part to the lifestyle.

UHNWI is the term ultra-high-net-worth individual. It describes people with investible liquid assets of at least US$30 million (around €28.5 million), excluding personal assets, property, collectibles, and consumer durables.

Although used often to describe and promote a luxurious way of life, it is actually a strict definition that excludes most of the world, but there are a few enclaves where people in this category are highly prevalent and the Principality of Monaco is undoubtedly one of them.

The study, entitled ‘Residential Real Estate 2023: Spotlight on the World’s Leading Markets for the Wealthy’, took a “holistic view” of properties owned by these individuals, noting that many in this category own multiple homes and that the report is not focused solely on primary residences.

This study also showed that the top three main residence cities for this group are Hong Kong, New York, and London. With New York, London, and Miami being the top choices for UHNWIs to buy second homes. 

 
“As we emerge from years riddled with uncertainty around a historic pandemic, social unrest, political discourse, and natural disasters, regardless of your age or demographic, luxury has made a monumental shift in the minds of the global population,” said Julie Faupel, Founder and CEO of REALM, which sponsored the report. “We are excited to partner with Altrata for a second time to examine how this shift is influencing how and where the world’s wealthiest individuals choose to reside.”

Analysis used in creating this report was done with Altrata’s Wealth-X Database, the biggest collection of focused research and intelligence on the world’s wealthy, as well as with their recently updated Wealth and Investible Assets Model, which launched this past December.

One thing you notice as a local in Monaco is there tend to be three primary camps. Those who flaunt their wealth, those who don’t, and those that are trying to achieve it.