Open

Coming up

Don't miss

Replay


LATEST SHOWS

DEBATE

Iraq's Christians - Nowhere to Run? (part 2)

Read more

DEBATE

Iraq's Christians - Nowhere to Run?

Read more

MEDIAWATCH

Towards a "Third Intifada"?

Read more

FOCUS

What solutions for California's overcrowded prisons?

Read more

MIDDLE EAST MATTERS

Gaza conflict: Palestinians mark sombre Eid

Read more

WEB NEWS

Celebrities in the Israel-Gaza crossfire

Read more

IN THE PAPERS

Israeli strike takes out Gaza power station

Read more

IN THE PAPERS

French newspaper apologises for Sarkozy story

Read more

BUSINESS DAILY

Last-ditch talks aim to avert Argentina default

Read more

  • Deadly strike hits Gaza market despite four-hour 'truce'

    Read more

  • Russia defiant as US, EU unveil 'phase three' sanctions

    Read more

  • Argentina fails to reach deal with holdout creditors

    Read more

  • US House votes to sue Obama for over-reaching his powers

    Read more

  • Suspect in Jewish Museum attack charged with 'terrorist' murder

    Read more

  • Women should not laugh in public, Turkey's deputy PM says

    Read more

  • Fourth female suicide bomber targets Nigerian city

    Read more

  • US rebounds to 4% growth in second quarter

    Read more

  • Video: Coping with rocket attacks in Israel’s Sderot

    Read more

  • Rats on the rampage at Louvre museum gardens

    Read more

  • France evacuates nationals, closes embassy in Libya

    Read more

  • 'Compelling' signs Kosovo leaders trafficked organs, prosecutor says

    Read more

  • Graphic: Ebola spreads across West Africa

    Read more

  • Video: How tourism is helping Rwanda’s gorillas, ex-poachers

    Read more

  • Islamists seize key Benghazi army base as fire rages on

    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)