Buying a property in France can be a very exciting experience. The French Riviera is a very popular area, and the real estate prices in the region have increased by as much as 23% in the last five years. Here are a few tips that can help you get the most out of your experience.
French Riviera is a buyer’s market
Despite the low growth in real estate prices on the French Riviera, the market for properties is a strong one. It is expected to continue to do so, with a particularly strong focus on the most sought-after properties on the Riviera.
French Riviera property is popular amongst investors from around the world. In 2014, 90% of luxury sales in the Cote d’Azur were made by foreign buyers.
Although property prices in the French Riviera have dropped by almost 20% since the peak in 2007, the market remains strong. Buyers continue to look for opportunities to invest outside of the prime areas of development.
Property prices in Paris have increased by 23% in the last 5 years
Despite falling prices in the French Riviera, property prices in Paris have risen by more than 23% over the past five years. This is a very significant rise in a country where the average cost of living is 24% less than in the United Kingdom and 35% less than in the US.
The increase in property prices has been driven by an increase in buying activity. In addition, the government has pumped in over EUR100 billion into the French economy to help stimulate recovery. This has increased the demand for apartments in the city centre. The average price of a prime Parisian property grew by 9 percent in the first half of 2022.
New-build properties are better for the environment
Whether you are looking to buy a home in France or you are an investor, the new-build properties of the future can offer a level of comfort and security not often associated with the French mainland. The French government is keen to promote environmentally friendly construction projects and measures. This includes the aforementioned Whole Life Carbon Assessment.
The French government has implemented numerous measures to replace outdated energy producing mechanisms with more efficient ones. This has had the beneficial effect of reducing the country’s overall carbon footprint by some 38%, according to the Grenelle Environment Round Table. It is also worth noting that France has a good track record of producing a good quality energy efficient home.
Commission charges for real estate in France
Buying or selling a property in France can be a complicated and taxing experience. In addition to the purchase price, you will also have to pay fees. The cost of a real estate agent’s services can range from 4% to 10% of the sale price.
The price a real estate agent charges for their services is also a matter of negotiation. If you’re planning to purchase a French property, you should ask about the commission fee in the initial contact.
The commission charge is usually built into the price of a property. This makes it easier for the buyer to compare prices. The commission fee may also be included in the valuation of a property.
Buying a property off-plan
Buying a property off-plan in France can be a lucrative investment. It is an option that has become increasingly popular in recent years. The French new-build sector is well regulated. It offers a number of advantages over buying property dans l’ancien, including tax savings and a guarantee of quality.
There are some important steps to follow when buying off-plan. Firstly, the developer should have all necessary permissions in place. If they are unable to comply, then you risk losing your rights to buy into the development. Secondly, you should find out how much progress the developer has made. You should also check whether the property has a “garantie d’achevement” clause. This is an insurance clause that guarantees that the construction will be completed in case the developer goes bust.
Buying a house in France as a foreigner
Buying a house in France as a foreigner can be a daunting task. It’s important to understand the process and make sure that you’re prepared to handle the financial and legal aspects. It’s also a good idea to have a real estate lawyer to help you with the process.
To buy a house in France as a foreigner, you need to be prepared to pay a range of fees. Some of the most common fees include agent fees, lawyer’s fees and stamp duty. The exchange rate can also be a big factor. If you want to save money, make sure that you use a currency exchange service before starting your search.