France from €212,164:A four-star sale-and-leaseback resort 7kms from Cannes on the Cote d'Azur in the south of France is being sold off plans by agent Savills HOK.
Le Petit Lac Mandelieu La Napoule, right, between Cannes and Fréjus, will have 274 28.69-51sq m (309-549sq ft)studio, one and two-bedroom apartments built around a private lake in a development on nearly 40 acres. Apartments, costing from €212,164 to €365,000, will border a golf course and will be 300m from a sandy beach.
Units in the development, to be completed by June 2008, must be bought as part of an 11-year and three-month leaseback scheme.
Guaranteed rental returns vary according to personal use: there is a 4 per cent guaranteed return if onwers don't use the property at all, a 3 per cent return with four weeks (out of high season) use by owners, and 2 per cent if owners want to use it for 20 weeks, out of high season.
Le Petit Lac is near one of the oldest golf courses in the region: it was created in 1891.
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