Yanis invested in Nantes from Denmark

In 2020, Yanis called his family bank, Crédit Agricole. The answer: impossible, as he was a non-resident paid in a foreign currency. A broker then asked for a 40 to 50% deposit: it would have taken all his savings, and the project stalled for four years. After the programme, he went back with a professionally presented project, and the same bank accepted his terms, with a three-year deferral. The regional committee finally rejected the file two weeks before the deadline, but Yanis had planned ahead: a second offer took over, with a six-month deferral.

The studio is in the historic centre of Nantes, where rental demand is strong. Yanis plans to let it mainly to students on a nine-month lease, and to add short-term lets in summer. He estimates the rent at €680 or €690, against a monthly repayment of €530. During the programme, he also discovered the French tax regimes, including LMNP and short-term letting, which had been “double Dutch” to him.

From Copenhagen, Yanis spotted the studio and called the agent. A viewing was booked for 9 am the next day: he asked for a video of the flat and made an offer without seeing it, after getting the agent’s verbal commitment to give him priority. The next day, a full-price offer came in, and the agent still kept his. He then signed the deed of sale by video call, without travelling.

The 26 m² studio needs a full renovation and will be turned into a one-bedroom “T1 bis” with a sleeping area. The notary also spotted PVC windows, which are not allowed in the protected historic centre: Yanis used this to renegotiate the price. He now expects €15,000 to €20,000 of works, more than he told the bank: he admits he underestimated them. He is running the works with his sister and hopes to finish within three months.