Bienvenue À Miami!

October October 16 marks the anniversary of Marie Antoinette’s death. In 1793 she was convicted by the Convention for treason to the principles of the revolution, and executed by guillotine on October 1793. Two hundred and nineteen years later, French citizens will be “ guillotined” by the 75% tax hike on all earnings over €1million – ($1.28M)  – which will come into force later this year.

This has brought on a ‘selling panic’ on France’s luxury property market. According to a Daily Mail article, “More than 400 Paris homes worth more than €1million have been put on the market since President Francois Hollande came to power in May – more than double the same period last year.

Many of France’s super-rich want to escape to ‘wealth-friendly’ countries. This is good news for our South Florida market which has benefitted greatly from foreign investment. We extend a hand to the French and say, Bienvenue á Miami!

http://www.dailymail.co.uk/news/article-2214595/More-400-1million-euro-homes-Paris-market-millionaires-flee-Hollandes-socialist-tax-hikes.html