Jasses de Camargue

I have a deposit on one of the 45sqm 2 bedroom apartments, and was getting a little frustrated/worried at lack of communication. I contacted IMOINVEST and was told that contracts would be sent out in next two weeks (from 22nd February).

I also asked for advice from a friend who is a bit independent. Here it is.

"You asked for my personal advice on the Jasses de Camargue project and here it is - I would keep the purchase for several reasons - notably because it is good value for the price. I know the delay may have caused some inconvenience, however if it doesn't actually costs more in cash - it will be worth the wait. I know some clients who pulled out because of anxiety and their units were bought within the same day for 20,000 euros more in cash! So for me the price is a major consideration because it could be nearly impossible to find a piece of property of that size in that region for the same price.
The next consideration is that the Languedoc Roussillon region in France has been reporting outstanding capital growth throughout the past few years. It has been quoted in several magazines as the best area to buy in France. So once you get past the initial hurdle, you probably will be quite happy you stuck with it.

A year or two is not an extraordinarily long time to wait for a leaseback investment property as these are normally bought off plans and building takes time in France. The fact is that the project was bought off the first developer by another developer. The delay was caused by the fact that this new developer had to get all the certification and approvals that the previous one had - via notary and all the relevant government building agencies. They had to get these before continuing with the building and before closing on the units already reserved. My last information was that these approvals have now been received and you should be getting closing documentation directly from the notary shortly."

As this ties in with what other people are saying on the forum, I am a little happier, but hope to see movement soon, or will become despondent again.

Does anyone know of where you can buy second hand leasebacks. I stayed in a residence in the Alps recently and it was over 20 years old. Surely some of that age of apartment are for sale somewhere. Or what about people who have to sell their 5 year old property - there must be quite a few. Where are they?? This is my main concern re leasebacks - how easy will it be to sell in 20 years time?

We are buying in Les Jasse also - we visited there last year and it is a lovely area. After a long delay we got our final doc. but they are all in french & we have been told there is no translation available. Is anybody else having this problem? Should we sign if it is only in french?

I have just received the contract in french - will the french notaire send me the english version for it to be stamped by the public notary here ?

We also received contracts in French - Notaire does not supply Eng. Trans. Except the power of attorney. Our agent brought an Eng. speaking notaire from the french office to Dublin to help anybody who needed it. But it was only for the power of att.[proxy] & nothing else.We didn't go as it was too far.We're going ahead & sending back signed docs. tomorrow

w

Niamh,

We've been informed that our foundations are layed and have been asked for a further 10% so things are moving on. I'm in contact with another couple from Ireland how are purchasing as well - if you like we could have a chat.

Annette

Just found out that the price has gone up to 153,207 and the rental return reduced to 4% - this is great news for those of us who got in early.
Annette

thinking of investing in "jasses de camargue" but curious as to other peoples views. is anybody out there???

surprised to hear it is still a green field site from robbie. what do you think???

Hi Seamus,

We're visiting Les Jasses early in Nov.just wondering should we notify the contractors.When we' re there is there anything specific we should look out for and anything we should enquire about.Will let you know how it is progressing when we get back.

Annette

I have some photos from the developer. They're not very exciting, but do show walls going up etc. If you want them let me know.

Michael

Has anybody got any up to date news on this development

ian b

Getting bridging is normal as most french banks wont finance the VAT.

I know of several banks that will finance VAT on leaseback purchase, some will ask that you put it back into the mortgage when you get it back and others will let you keep it. Amounts available are generally from 70% to 85%.

I also know of a lender that will do 96%

Hi Sharon, 96% sounds great, which bank is that with??

Not sure if I can post links here, send me an email to (to email Sharon click on the pm "private message" button) and I will forward details.

7 months for a mortgage is a long time - which bank did you apply with? When we send in customers applications we normally have a decision within a couple of weeks max although some files do take longer it really depends on how complicated your file is and whether or not any paper work was missing. mccos38638.8462847222