LF ST JEAN DE LUZ

Reference: LF ST JEAN DE LUZ - 2 Bedroom Apartment - €160,000 (life annuity sale 160000 euros downpayment plus 1595 euros life annuity monthly payments)
Location: Saint-Jean-de-Luz, ST JEAN DE LUZ

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€160,000 is approximately :

Australian Dollars : $261,546

British Pounds : £144,123

Canadian Dollars : $254,208

Hongkong Dollars : $1,840,470

Japanese Yen : ¥21,112,777

New Zealand Dollars : $329,035

Swiss Francs : F242,012

US Dollars : $237,662

Please note that these conversions are approximate and for guidance only. They do not constitute sale prices.

€160,000

Bedrooms	Habitable	Land Size
2	70m²	?

2 Bedroom Apartment - €160,000 (life annuity sale 160000 euros downpayment plus 1595 euros life annuity monthly payments) - Location: Saint-Jean-de-Luz, ST JEAN DE LUZ

Aquitaine, Pyrénées-Atlantiques, Saint-Jean-de-Luz

This Property is For Sale by FGP CEV
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Highlights

LIVE IN FRONT OF THE ATLANTIC SEA LIKE THE BELLE EPOQUE INDUSTRIALISTS IN ST JEAN DE LUZ
BUY YOURSELF A LUXURY FLAT ON A CHEAP LIFE ANNUITY BASIS

Description

free market value 650.000 euros
a wonderful flat occupied lifelong by lady seller 82 years old
downpayment 160000 euros life annuity monthly payments 1595 euros
80m2 flat plus 10m2 veranda loggia and a balcony overlooking the shore and the aTlantic sea and 50 metres from the sand!
entrance hall -bathroom - fully furbished kitchen - living room - two bedrooms - on second floor of a beautiful ancient styled residence

PROPERTY PURCHASE AGAINST LIFE ANNUITY IN FRANCE
people over 70 often seek means to increase their income
they can sell a property "en viager" to a buyer who will pay them an "annuity" for the rest of their lives
they will receive an income indexed to cost of living for the rest of their lives avoiding risks asscoiated with traditional investment scheme
the sale against life annuity can be either vacant (rare) or occupied (most commonly)
in the latter case sellers remain living in their house for the rest of their life or for a more limited period
the seller may relinquish occupation at any time in which case life annuity is increased by a further supplement

WHAT ARE THE ADVANTAGES FOR A BUYER ON LIFE ANNUITY PURCHASE
property is sold at a lower price
downpayment is often modest
rate of the annuity can often be lower than the repayments on a bank loan
no need to manage a let and no income to pay tax on until such time as the property reverts

ON WHAT BASIS IS LIFE ANNUITY CALCULATED?
upon signing the transfer of property and bill of sale the buyer is required to effect the initial downpayment
the balance is payable monthly in the form of life annuity which is calculated on the basis of the following criteria:-

value of the proeprty purchased
amount of downpayment
life expectancy of seller

life annuity is linked to consumers price index and updated once a year

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Features

Bedrooms: 2
Habitable Space: 70 m²
Town
Beach
Balcony

Condition and Utility Information

Condition - New

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