Olivia invested in Manosque from Thailand

Olivia felt she did not have the right profile for French banks. Using ImmoPourExpat’s banking strategy, she borrowed about €300,000 at 3.9% excluding insurance and 4.2% including it. She secured a full 24-month repayment holiday, and the bank granted a €102,000 budget for works on quotes. If rates fall, she will renegotiate.

Manosque has plenty of small flats to let, and its two-bedroom flats tend to be small. Olivia is creating a 42 m² one-bedroom flat and an 80 m² two-bedroom flat to stand out. She has set aside €10,000 to furnish both, kitchens excluded, and is aiming for a 7 to 8% gross yield, self-financing. Those around her keep trying to put her off letting from abroad.

Olivia lives in Bangkok. Her mother was the first to view the property; Olivia only saw it at Christmas, on a trip back to France. During the works, her builder will send her photos every week. Her Franco-American partner was not ready for the paperwork and delays of French banks.

The property is a former medical practice, commercial premises for some fifty years: everything needs redoing, even though it is in good condition. Olivia did not know the steps, permits and change of use, and the programme guided her step by step. The co-owners have agreed, and the split will be made official at the general meeting in May. The works, quoted at €92,000, should run from mid-March to early July.