Corsica is a French region that never ceases to impress its gentiles and tourists. This region of France offers many opportunities that allow its residents and visitors to flourish better. As an opportunity, Corsica allows its people to invest efficiently in real estate. Thus, they can diversify their income. But why is investing in real estate so crucial in Corsica? This article will answer you.
Corsica: A Trendy Region for Tourism
On the French territory, Corsica is one of the most coveted regions for visitors. Indeed, this French area remains among the largest islands in the Mediterranean. Therefore, it offers a stunning landscape to its visitors. Moreover, it should be noted that it offers its tourists beautiful beaches where they can relax. Then, Corsica’s natural wealth pushes the other gentilés of the world to rush towards it. This flow of visitors benefits Corsica, in this case, the real estate business in Corsica.
In fact, tourists will have to rent small apartments in Corsica not to pay big fees at the hotel. Thus, if you invest in this sector, you will have great chance of increasing your income. Based on these elements, it should be understood that the demand for the real estate market in Corsica is growing. This factor shows that the sector is very profitable and that you can make big profits in the long run.
Corsica: The Real Estate Market Is Cheaper
The reasons for the importance of real estate in Corsica are not limited to the high flow of visitors who flock to this area. In fact, in addition to this factor, you should know that the real estate market is very accessible in Corsica. Otherwise, real estate prices in Corsica are cheaper than in other French departments. To confirm this fact, statistics (Le Figaro) reveal that the Corsican market is 30% cheaper than the prices charged in the PACA region in France.
For example, while a concession can be sold at 3000 € per square meter in Corsica, you would have to pay at least 5000 € to acquire the same house in Bordeaux. This situation shows that you can pay less for housing in Corsica while taking advantage of an attractive tax system. Moreover, you will have the possibility to slightly increase the price of your property to make enough profit. So, this characteristic of the real estate market in Corsica is of great benefit to its residents, as they can easily increase their income with a good investment.
Corsica: The Real Estate Market Is Very Dynamic
Apart from these reasons mentioned above, the dynamism of the Corsican real estate market attests to the importance of this sector in the area. Speaking of dynamism, you should understand that it is about fluctuating prices proposed to acquire real estate. The market is much more characterized by an increase in prices over an adequate period. For example, according to statistics, the Corsican real estate market has seen a 6.6% price increase in 10 years. Although not very high, this rate nevertheless allows you to increase your income tenfold.
Following this fact, it would be profitable to invest in real estate in the Corsican market. Apart from this detail, it should also be noted that some regions of Corsica are subject to the tax exemption mechanism of the Pinel law. This principle submits then the holders of real estate to Pinel tax reductions. In this way, the charges generated by real estate are reduced in Corsica. Thus, property owners can make their investment in the Corsican real estate market more profitable.