French property fears

Thousands of British people with holiday homes in France could be hit with 20 per cent hike in ‘weekend tax’ as its Socialist government sets it sights on wealthy foreigners.President Francois Hollande’s floundering administration wants to use the money in a bid to raise an extra £117million towards its EU budget deficit. The tax will be aimed at those who buy apartments in major cities and areas and then leave them empty for most of the year.The new move to squeeze money from foreign homeowners comes as British buyers are increasingly tempted by lower French house prices and record low mortgage rates across the Channel.