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Sarkozy's presidency 'good news for investors'

Article Date : Thursday, May 17, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

New centre-right French president Nicolas Sarkozy will boost the country's economy and make the property market much "livelier", an expert has said.

According to Trisha Mason, the managing director of property specialists VEF, property prices in France will grow as the economy gains strength and administrative red tape is slashed.

However, she predicted that changes in the French market will probably not take effect until 2008, which means investors still have time to get into the market and benefit from booming prices, although they must act now.

"Basically everything Mr Sarkozy is proposing to do will bring France far more in line with the UK economy and the US economy," she commented.

"He's also intending to lower inheritance tax and things like that and to get rid of some of the onerous French administration. All of that seems to point to the fact that the market will become livelier."

Mr Sarkozy took office as president of France yesterday, replacing Jacques Chirac, who was at the helm for 12 years.
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