Join the Paris express

From the TimesOnline (UK) - A SURGE in the popularity of second homes is set to follow the Chancellor’s tax concessions unveiled this week. Anyone selling such a property after nine years will benefit from the new low rate of capital gains tax on the profits – only 18 per cent. According to Liam Bailey, Knight Frank’s head of residential research, “this could have the effect of raising investment volumes – and hence underpin prices in investment and second-home locations”. Paris, which is already receiving a boost from the high-speed Eurostar train link from St Pancras starting next month, is set to be one of those locations. House prices in the French capital rose by 9.9 per cent last year.

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