Boost for second home owners in France as CGT exemption is reduced

Second home owners in France will no longer have to own their property for 30 years to be exempt from capital gains tax after the French government backtracked on new rules. Earlier this year the previous 15 year exemption was doubled to 30 years but now the French government has reduced it to 22 years after intense lobbying from the property industry claiming the decision was putting off foreign buyers. From 01 September those owning a second home in the country for more than 22 years will have...