Expert Insight, Breaking News, and Insider Stories on Real Estate in Paris
Fees collected by legal professionals in France are set to decrease, including those paid to notaires. However, savings will only be significant on small transactions while most Paris real estate buyers won’t notice much change at all. Starting in May, buyers in France will benefit from ever-so-slightly reduced notaire fees on their purchase. Part of the Macron Law passed last year, a decree published […]
Paris officials want to instate a fivefold increase on occupancy tax on vacant secondary residences to encourage owners to sell their properties or rent them out. Last month, the City of Paris voted in the principle of increasing the occupancy tax — taxe d’habitation — on vacant second homes in the capital. The tax would […]
As of January 1st, 2016, property purchased in Paris is subject to an increased purchase tax — or transfer tax. This tax has increased by 0.7% for the purchase of housing, office or commercial property. While the vast majority of French departments had already taken this step, Paris is the latest to apply an increased […]
Some decisions on local taxes taken at the municipal level this year in France will affect homeowners in 2015 and 2016. New increases in residential taxes (taxe d’habitation) and property tax (taxe foncière) as well as surtaxes on second homes and building lots are part of the program.
The national average rate for residential occupancy tax (taxe d’habitation) payable on property in France has crept up 19% over ten years, according to an analysis based on official figures from the tax office/INSEE and published by Home’n’go. The French taxe d’habitation is equivalent to a residence tax and is paid by the person or household unit living in […]
Real estate transactions in France are subject to stamp duty, which the buyer pays. The rate is currently 5.09% of the price of the property and breaks down into: A departmental (county) tax of 3.80%. Paris is classified as a county. A communal (municipal) tax of 1.20%. Each arrondissement (district) of Paris counts as a […]