Expert Insight, Breaking News, and Insider Stories on Real Estate in Paris
You’d like to buy property in Paris, but you’re not sure whether it’s also the right investment property. For many buyers, particularly in the most coveted neighborhoods, short-term rentals provide great income to offset costs and expenses. It’s important to understand what the key components are that create lasting value.
There is no capital gains tax on the sale of a primary residence in France. For a secondary residence owned either individually or through an SCI, the amount of capital gains owed at the time of sale is determined by
A compromis de vente is a mutual obligation of the buyer (to buy) and the seller (to sell). Literally translating as “a promise to sell,” the promesse de vente is a unilateral obligation to sell. There are two substantial drawbacks to a compromis de vente:
Whether the parties sign a compromis de vente or a promesse de vente, the preliminary contract will always contain the following terms:
French banks will lend up to 85% of the assessed value of the property and renovations to most non-resident buyers.
The notaire is a public official with legal training (but different from a lawyer) who prepares and registers official acts such as wills and property ownership transfers. Notaires enjoy a very privileged and highly respected position in French society.