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Hollande's estate is worth €1.2m

Incoming president reveals his net worth includes Riviera house and two Cannes flats as he heads for the Elysée

NO CAR, no stocks, no shares, no valuables - just a house and two flats on the Riviera make up the sum total of president-elect François Hollande's estate as he prepares to take over at the Elysée.

Each presidential candidate has to provide a list of their patrimoine but only the new president has it published. This "déclaration de situation patrimoniale" is published today in the Journal Officiel after the official election results were declared yesterday.

Hollande, who promised complete transparency over his finances when he entered the presidential race, has estate worth around €1.17 million; almost entirely made up of the value of the three properties he owns.

He has a house in Mougins (Alpes-Maritimes) worth €800,000 which he has owned since 1986 and two flats in nearby Cannes of €230,000 and €140,000.

While he has three current bank accounts, none is outside France. They contain under €8,000 between them and he also holds an assurance vie of a value of €3,550. His bank accounts are at the Banque Postale and Société Générale. He has no stocks or shares.

Hollande has no art or jewellery collection, no car and declares only "various items of furniture" valued at €15,000.

Nicolas Sarkozy, the président sortant declared his outgoing estate at around €2.7m, mostly made up of assurance vie contracts. He declared valuables worth €100,000, made up of an autograph collection, watches and sculptures. His declaration at the start of his presidency, in 2007, was around €2.1m.

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