London, United Kingdom (15th June, 2012) – M Winkworth plc, the largest single estate agency brand in London, predict an influx of French families moving to the UK in light of Francois Hollande’s electoral victory in France.
Socialist Francois Hollande’s victory marks the end of Sarkozy’s reign, and Winkworth predicts that the move to the left will bring some big changes for the wealthy French. One of the most notable changes that Hollande intends to introduce is a 75% tax on anyone earning over €1 million. Winkworth agents are predicting that more French people will look to move to the UK where they will be taxed at 50% on their earnings.
Winkworth South Kensington have already noted a marked increase in enquiries from French buyers since Hollande’s election to power. This trend looks set to continue for the foreseeable future in the area – often referred to as London’s French Quarter, or the 21st Arrondissement of Paris – where French buyers snap up the smart apartments.
James Moran, of Winkworth South Kensington, comments: “South Kensington is the home of the Charles de Gaulle Lycee Francais and as a result, our area is heavily populated with many French families who have been resident in The Royal Borough for a number of years.
We fully expect to see an increased interest from French buyers; enquiries have doubled since the beginning of last week when Hollande’s victory seemed a certainty.
Most commonly the typical French buyer will be over thirty years of age and come with a family or the intention of starting a family. We predict large two and three bedroom apartments coupled with maisonettes and family houses to be most in demand, especially those that have access to garden squares.
We have recently employed a fluent French speaker to assist us with the increase in enquiries that we expect as the changes come into force effect.”
For more information on Winkworth’s estate agency, please visit www.winkworth.co.uk or call 020 7355 0220.
Winkworth is a leading franchisor of residential real estate agencies and is admitted to trading on the AIM Market of the London Stock Exchange.
Established in Mayfair in 1835, Winkworth has a pre-eminent position in the mid to upper segments of the central London residential sales and lettings markets. Winkworth has in excess of 90 offices, with 60 in London alone.
The franchise model allows entrepreneurial real estate professionals to provide the highest standards of service under the banner of a well-respected brand name and to benefit from the support and promotion that Winkworth offers. Franchisees deliver in depth local knowledge and a highly personalised service to their clients.
M Winkworth Plc
11 Berkeley Street
Zip: W1J 8DS
Tel: 020 7355 0220