The French president Nicolas Sarkozy announced on the 29th January his plan to increase the possibility of construction by 30%. This reform grants the landlords the individual right to extend their property by 30%, without having to ask for planning permission. This will include all types of properties (land, houses, buildings, etc.). As a consequence, landlords who had already reached their construction limits will be able to again increase the size of their property.
For example, with a new building, where the construction was previously limited to 50 feet high, they will now be able to reach 65 feet. The same applies to French resale properties, with 30% extensions possible.
It represents a great opportunity for building professionals, property developers and especially for individuals who are thinking about extending their house. Indeed, it makes more sense to invest in extending a property than in building a garden office!
Furthermore, the French president also plans to sell some state land so that even more new properties can be built. According to the French government, 100.000 new properties could be built on this land between 2012 and 2016. Currently, the new property market only totals 400.000 new constructions a year.
The main purpose of these measures is to significantly increase housing in France, in order to create more offer and thus more competitive prices. This way, buying prices would fall in the long-term and should facilitate home-ownership. This is yet another chance for individuals to acquire property in France, especially in this pre-electoral period, when candidates try to fight it out with various tactics.
So take advantage of this great opportunity!