Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

Search of Air Algerie crash site continues

Read more

MEDIAWATCH

Sarkozy, Hollande and the scooter wars

Read more

MEDIAWATCH

Confusion online over Air Algérie flight

Read more

THE WORLD THIS WEEK

The World This Week - July 25th, 2014 (part 2)

Read more

THE WORLD THIS WEEK

The World This Week - July 25th, 2014

Read more

REPORTERS

Halal tourism on the rise

Read more

ENCORE!

Tunisia's Carthage International Festival turns 50

Read more

FRANCE IN FOCUS

WWI Centenary: the battle for Verdun

Read more

THE BUSINESS INTERVIEW

When big companies want to do good

Read more

  • Hamas opens fire on Israel despite offer to extend humanitarian truce

    Read more

  • Photos: Youths clash with police at banned Gaza protest in Paris

    Read more

  • Bodies of all Air Algérie crash victims to be brought to France

    Read more

  • Germany's Tony Martin wins 20th stage of Tour de France

    Read more

  • Kidnapped Briton freed after five months' detention in Yemen

    Read more

  • US evacuates embassy in Libya amid militia clashes

    Read more

  • Kerry in Paris for new round of Gaza ceasefire talks

    Read more

  • Nibali rides serenely toward a place in Tour history

    Read more

  • Video: 'Lack of security' at MH17 crash site, FRANCE 24 reports

    Read more

  • In pictures: Devastation, debris at Air Algérie crash site

    Read more

  • Washington Post reporter and his wife arrested in Iran

    Read more

  • French families grieve for Algerian plane crash victims

    Read more

  • Lithuania’s Navardauskas wins 19th stage of Tour de France

    Read more

  • LA Times wipes France off the map in air crash infographic

    Read more

  • Fans electrify the mood as Tour de France crosses the Pyrenees

    Read more

  • French lawyer files complaint against Israel at ICC

    Read more

  • Protest against Gaza offensive turns deadly in West Bank

    Read more

France

Corsican lawmakers pass 'residents only' home-buying law

Text by FRANCE 24

Latest update : 2014-04-25

Legislators in Corsica have made it compulsory for people to be permanent residents for a minimum of five years before they can buy property on the French island.

Corsica’s Executive Council, the regional governmental body, approved the law restricting real estate transactions on Friday, with 29 votes in  favour, 18 votes against and four abstentions.

Proponents of the bill said the move would help curb speculation that has inflated the price of houses, apartments and land on the picturesque Mediterranean island.

Holiday homes owned by residents of mainland France and by foreigners now represent up to 40 percent of all Corsican real estate, according to local authorities.

France’s national statistics agency INSEE said the island had 7,000 holiday homes in 1968 but in 2007 counted as many as 71,000.

The bill sharply divided left-wing lawmakers, with most of the dissenting votes on Friday coming from members of the far-left who warned the measure would lead to the creation of a real-estate black market.

The law also contains a provision to raise taxes on vacation properties, according to local daily Corse Matin.

The new residency requirement law would provide exceptions for native Corsicans living abroad.

Debate over the law has been raging since last summer, when Paul Giacobbi, the head of Corsica’s Executive Council, began championing it.

Nationalists opposed to foreign investment in Corsican properties as second homes have sometimes resorted to using explosives to blow up houses as a warning to outsiders to leave the island.

(FRANCE 24 with AFP)

Date created : 2014-04-25

  • FRANCE-CORSICA

    Corsican politician wants 'locals only' housing market

    Read more

  • A TOUR OF FRANCE

    Tour de France stage 1: Bonifacio, a town on a cliff edge

    Read more

  • FRANCE

    Third gangland killing strikes ‘murder capital’ Corsica

    Read more

COMMENT(S)